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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $2,178,540 | | Net Lumpsum Payment | $32,259,130 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,806,120 |
$628,595
$72,064 |
$1,105,461 |
| 2 |
$1,896,480 |
$662,028
$75,670 |
$1,158,782 |
| 3 |
$1,991,280 |
$697,104
$79,452 |
$1,214,724 |
| 4 |
$2,090,880 |
$733,956
$83,426 |
$1,273,498 |
| 5 |
$2,195,400 |
$772,628
$87,596 |
$1,335,176 |
| 6 |
$2,305,200 |
$813,254
$91,977 |
$1,399,969 |
| 7 |
$2,420,400 |
$855,878
$96,574 |
$1,467,948 |
| 8 |
$2,541,480 |
$900,678
$101,405 |
$1,539,397 |
| 9 |
$2,668,560 |
$947,698
$106,476 |
$1,614,386 |
| 10 |
$2,802,000 |
$997,070
$111,800 |
$1,693,130 |
| 11 |
$2,942,040 |
$1,048,885
$117,387 |
$1,775,768 |
| 12 |
$3,089,160 |
$1,103,320
$123,257 |
$1,862,583 |
| 13 |
$3,243,600 |
$1,160,462
$129,420 |
$1,953,718 |
| 14 |
$3,405,840 |
$1,220,491
$135,893 |
$2,049,456 |
| 15 |
$3,576,120 |
$1,283,495
$142,687 |
$2,149,938 |
| 16 |
$3,754,920 |
$1,349,651
$149,821 |
$2,255,448 |
| 17 |
$3,942,600 |
$1,419,092
$157,310 |
$2,366,198 |
| 18 |
$4,139,760 |
$1,492,042
$165,176 |
$2,482,542 |
| 19 |
$4,346,760 |
$1,568,632
$173,436 |
$2,604,692 |
| 20 |
$4,564,080 |
$1,649,040
$182,107 |
$2,732,933 |
| 21 |
$4,792,320 |
$1,733,489
$191,214 |
$2,867,617 |
| 22 |
$5,031,960 |
$1,822,156
$200,775 |
$3,009,029 |
| 23 |
$5,283,480 |
$1,915,218
$210,811 |
$3,157,451 |
| 24 |
$5,547,720 |
$2,012,987
$221,354 |
$3,313,379 |
| 25 |
$5,825,040 |
$2,115,595
$232,419 |
$3,477,026 |
| 26 |
$6,116,400 |
$2,223,398
$244,044 |
$3,648,958 |
| 27 |
$6,422,160 |
$2,336,530
$256,244 |
$3,829,386 |
| 28 |
$6,743,280 |
$2,455,344
$269,057 |
$4,018,879 |
| 29 |
$7,080,480 |
$2,580,108
$282,511 |
$4,217,861 |
| 30 |
$7,434,480 |
$2,711,088
$296,636 |
$4,426,756 |
|
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