The jackpot for the Powerball draw on Sat Oct 31, 2026, is projected to be $760 Million, with an option for a cash payout of $326 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 Oct 31, 2026 |
|---|
| Draw Date | Sat Oct 31, 2026 | | Projected Jackpot | $760,000,000 | | Cash Value | $326,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $326,000,000 | | Federal Tax(24%) | $78,240,000 | | Additional Federal Tax | $42,340,330 | | State Tax(8.82%) | $28,753,200 | | Net Lumpsum Payment | $176,666,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,438,760 |
$4,192,672
$1,008,899 |
$6,237,189 |
| 2 |
$12,011,040 |
$4,404,415
$1,059,374 |
$6,547,251 |
| 3 |
$12,611,440 |
$4,626,563
$1,112,329 |
$6,872,548 |
| 4 |
$13,242,240 |
$4,859,959
$1,167,966 |
$7,214,315 |
| 5 |
$13,904,200 |
$5,104,884
$1,226,350 |
$7,572,966 |
| 6 |
$14,599,600 |
$5,362,182
$1,287,685 |
$7,949,733 |
| 7 |
$15,329,200 |
$5,632,134
$1,352,035 |
$8,345,031 |
| 8 |
$16,096,040 |
$5,915,865
$1,419,671 |
$8,760,504 |
| 9 |
$16,900,880 |
$6,213,656
$1,490,658 |
$9,196,566 |
| 10 |
$17,746,000 |
$6,526,350
$1,565,197 |
$9,654,453 |
| 11 |
$18,632,920 |
$6,854,511
$1,643,424 |
$10,134,985 |
| 12 |
$19,564,680 |
$7,199,262
$1,725,605 |
$10,639,813 |
| 13 |
$20,542,800 |
$7,561,166
$1,811,875 |
$11,169,759 |
| 14 |
$21,570,320 |
$7,941,349
$1,902,502 |
$11,726,469 |
| 15 |
$22,648,760 |
$8,340,372
$1,997,621 |
$12,310,767 |
| 16 |
$23,781,160 |
$8,759,360
$2,097,498 |
$12,924,302 |
| 17 |
$24,969,800 |
$9,199,156
$2,202,336 |
$13,568,308 |
| 18 |
$26,218,480 |
$9,661,168
$2,312,470 |
$14,244,842 |
| 19 |
$27,529,480 |
$10,146,238
$2,428,100 |
$14,955,142 |
| 20 |
$28,905,840 |
$10,655,491
$2,549,495 |
$15,700,854 |
| 21 |
$30,351,360 |
$11,190,334
$2,676,990 |
$16,484,036 |
| 22 |
$31,869,080 |
$11,751,890
$2,810,853 |
$17,306,337 |
| 23 |
$33,462,040 |
$12,341,285
$2,951,352 |
$18,169,403 |
| 24 |
$35,135,560 |
$12,960,488
$3,098,956 |
$19,076,116 |
| 25 |
$36,891,920 |
$13,610,341
$3,253,867 |
$20,027,712 |
| 26 |
$38,737,200 |
$14,293,094
$3,416,621 |
$21,027,485 |
| 27 |
$40,673,680 |
$15,009,592
$3,587,419 |
$22,076,669 |
| 28 |
$42,707,440 |
$15,762,083
$3,766,796 |
$23,178,561 |
| 29 |
$44,843,040 |
$16,552,255
$3,955,156 |
$24,335,629 |
| 30 |
$47,085,040 |
$17,381,795
$4,152,901 |
$25,550,344 |
|
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