The jackpot for the Powerball draw on Sat Mar 21, 2026, is projected to be $120 Million, with an option for a cash payout of $54.6 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Sat Mar 21, 2026 |
|---|
| Draw Date | Sat Mar 21, 2026 | | Projected Jackpot | $120,000,000 | | Cash Value | $54,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,600,000 | | Federal Tax(24%) | $13,104,000 | | Additional Federal Tax | $7,058,330 | | State Tax(8.82%) | $4,815,720 | | Net Lumpsum Payment | $29,621,950 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,806,120 |
$628,595
$159,300 |
$1,018,225 |
| 2 |
$1,896,480 |
$662,028
$167,270 |
$1,067,182 |
| 3 |
$1,991,280 |
$697,104
$175,631 |
$1,118,545 |
| 4 |
$2,090,880 |
$733,956
$184,416 |
$1,172,508 |
| 5 |
$2,195,400 |
$772,628
$193,634 |
$1,229,138 |
| 6 |
$2,305,200 |
$813,254
$203,319 |
$1,288,627 |
| 7 |
$2,420,400 |
$855,878
$213,479 |
$1,351,043 |
| 8 |
$2,541,480 |
$900,678
$224,159 |
$1,416,643 |
| 9 |
$2,668,560 |
$947,698
$235,367 |
$1,485,495 |
| 10 |
$2,802,000 |
$997,070
$247,136 |
$1,557,794 |
| 11 |
$2,942,040 |
$1,048,885
$259,488 |
$1,633,667 |
| 12 |
$3,089,160 |
$1,103,320
$272,464 |
$1,713,376 |
| 13 |
$3,243,600 |
$1,160,462
$286,086 |
$1,797,052 |
| 14 |
$3,405,840 |
$1,220,491
$300,395 |
$1,884,954 |
| 15 |
$3,576,120 |
$1,283,495
$315,414 |
$1,977,211 |
| 16 |
$3,754,920 |
$1,349,651
$331,184 |
$2,074,085 |
| 17 |
$3,942,600 |
$1,419,092
$347,737 |
$2,175,771 |
| 18 |
$4,139,760 |
$1,492,042
$365,127 |
$2,282,591 |
| 19 |
$4,346,760 |
$1,568,632
$383,384 |
$2,394,744 |
| 20 |
$4,564,080 |
$1,649,040
$402,552 |
$2,512,488 |
| 21 |
$4,792,320 |
$1,733,489
$422,683 |
$2,636,148 |
| 22 |
$5,031,960 |
$1,822,156
$443,819 |
$2,765,985 |
| 23 |
$5,283,480 |
$1,915,218
$466,003 |
$2,902,259 |
| 24 |
$5,547,720 |
$2,012,987
$489,309 |
$3,045,424 |
| 25 |
$5,825,040 |
$2,115,595
$513,769 |
$3,195,676 |
| 26 |
$6,116,400 |
$2,223,398
$539,466 |
$3,353,536 |
| 27 |
$6,422,160 |
$2,336,530
$566,435 |
$3,519,195 |
| 28 |
$6,743,280 |
$2,455,344
$594,757 |
$3,693,179 |
| 29 |
$7,080,480 |
$2,580,108
$624,498 |
$3,875,874 |
| 30 |
$7,434,480 |
$2,711,088
$655,721 |
$4,067,671 |
|
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