The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 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 those living in Washington, the bright side is you won't have to pay any state taxes on your lottery prize.
| Washington Powerball Jackpot/Cash Option for Mon Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $294,700,000 | | Federal Tax(24%) | $70,728,000 | | Additional Federal Tax | $38,271,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $185,700,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$0 |
$6,553,893 |
| 2 |
$10,857,348 |
$3,977,549
$0 |
$6,879,799 |
| 3 |
$11,400,078 |
$4,178,359
$0 |
$7,221,719 |
| 4 |
$11,970,288 |
$4,389,337
$0 |
$7,580,951 |
| 5 |
$12,568,665 |
$4,610,736
$0 |
$7,957,929 |
| 6 |
$13,197,270 |
$4,843,320
$0 |
$8,353,950 |
| 7 |
$13,856,790 |
$5,087,343
$0 |
$8,769,447 |
| 8 |
$14,549,973 |
$5,343,820
$0 |
$9,206,153 |
| 9 |
$15,277,506 |
$5,613,008
$0 |
$9,664,498 |
| 10 |
$16,041,450 |
$5,895,667
$0 |
$10,145,783 |
| 11 |
$16,843,179 |
$6,192,307
$0 |
$10,650,872 |
| 12 |
$17,685,441 |
$6,503,944
$0 |
$11,181,497 |
| 13 |
$18,569,610 |
$6,831,086
$0 |
$11,738,524 |
| 14 |
$19,498,434 |
$7,174,751
$0 |
$12,323,683 |
| 15 |
$20,473,287 |
$7,535,447
$0 |
$12,937,840 |
| 16 |
$21,496,917 |
$7,914,190
$0 |
$13,582,727 |
| 17 |
$22,571,385 |
$8,311,743
$0 |
$14,259,642 |
| 18 |
$23,700,126 |
$8,729,377
$0 |
$14,970,749 |
| 19 |
$24,885,201 |
$9,167,855
$0 |
$15,717,346 |
| 20 |
$26,129,358 |
$9,628,193
$0 |
$16,501,165 |
| 21 |
$27,436,032 |
$10,111,662
$0 |
$17,324,370 |
| 22 |
$28,807,971 |
$10,619,280
$0 |
$18,188,691 |
| 23 |
$30,247,923 |
$11,152,062
$0 |
$19,095,861 |
| 24 |
$31,760,697 |
$11,711,788
$0 |
$20,048,909 |
| 25 |
$33,348,354 |
$12,299,221
$0 |
$21,049,133 |
| 26 |
$35,016,390 |
$12,916,395
$0 |
$22,099,995 |
| 27 |
$36,766,866 |
$13,564,071
$0 |
$23,202,795 |
| 28 |
$38,605,278 |
$14,244,283
$0 |
$24,360,995 |
| 29 |
$40,535,748 |
$14,958,557
$0 |
$25,577,191 |
| 30 |
$42,562,398 |
$15,708,418
$0 |
$26,853,980 |
|
|
