The jackpot for the Powerball draw on Mon Aug 3, 2026, is projected to be $748 Million, with an option for a cash payout of $325.1 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 Mon Aug 3, 2026 |
|---|
| Draw Date | Mon Aug 3, 2026 | | Projected Jackpot | $748,000,000 | | Cash Value | $325,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $325,100,000 | | Federal Tax(24%) | $78,024,000 | | Additional Federal Tax | $42,223,330 | | State Tax(3.99%) | $12,971,490 | | Net Lumpsum Payment | $191,881,180 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,258,148 |
$4,125,845
$449,200 |
$6,683,103 |
| 2 |
$11,821,392 |
$4,334,245
$471,674 |
$7,015,473 |
| 3 |
$12,412,312 |
$4,552,886
$495,251 |
$7,364,175 |
| 4 |
$13,033,152 |
$4,782,597
$520,023 |
$7,730,532 |
| 5 |
$13,684,660 |
$5,023,655
$546,018 |
$8,114,987 |
| 6 |
$14,369,080 |
$5,276,890
$573,326 |
$8,518,864 |
| 7 |
$15,087,160 |
$5,542,580
$601,978 |
$8,942,602 |
| 8 |
$15,841,892 |
$5,821,830
$632,091 |
$9,387,971 |
| 9 |
$16,634,024 |
$6,114,919
$663,698 |
$9,855,407 |
| 10 |
$17,465,800 |
$6,422,676
$696,885 |
$10,346,239 |
| 11 |
$18,338,716 |
$6,745,655
$731,715 |
$10,861,346 |
| 12 |
$19,255,764 |
$7,084,963
$768,305 |
$11,402,496 |
| 13 |
$20,218,440 |
$7,441,153
$806,716 |
$11,970,571 |
| 14 |
$21,229,736 |
$7,815,333
$847,066 |
$12,567,337 |
| 15 |
$22,291,148 |
$8,208,055
$889,417 |
$13,193,676 |
| 16 |
$23,405,668 |
$8,620,428
$933,886 |
$13,851,354 |
| 17 |
$24,575,540 |
$9,053,280
$980,564 |
$14,541,696 |
| 18 |
$25,804,504 |
$9,507,997
$1,029,600 |
$15,266,907 |
| 19 |
$27,094,804 |
$9,985,408
$1,081,083 |
$16,028,313 |
| 20 |
$28,449,432 |
$10,486,620
$1,135,132 |
$16,827,680 |
| 21 |
$29,872,128 |
$11,013,018
$1,191,898 |
$17,667,212 |
| 22 |
$31,365,884 |
$11,565,707
$1,251,499 |
$18,548,678 |
| 23 |
$32,933,692 |
$12,145,796
$1,314,054 |
$19,473,842 |
| 24 |
$34,580,788 |
$12,755,222
$1,379,773 |
$20,445,793 |
| 25 |
$36,309,416 |
$13,394,814
$1,448,746 |
$21,465,856 |
| 26 |
$38,125,560 |
$14,066,788
$1,521,210 |
$22,537,562 |
| 27 |
$40,031,464 |
$14,771,972
$1,597,255 |
$23,662,237 |
| 28 |
$42,033,112 |
$15,512,582
$1,677,121 |
$24,843,409 |
| 29 |
$44,134,992 |
$16,290,277
$1,760,986 |
$26,083,729 |
| 30 |
$46,341,592 |
$17,106,719
$1,849,030 |
$27,385,843 |
|
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