California Lottery

CALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 15, 2026 is estimated to be $269 Million, with a cash option of 120.5 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. The good news is that if you're a resident of California, you won't owe any state tax on your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

California Powerball Jackpot/Cash Option for Mon Jun 15, 2026

Draw Date	Jackpot	Cash Option
Mon Jun 15, 2026	$269,000,000	$120,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,500,000
Federal Tax(24%)	$28,920,000
Additional Federal Tax	$15,625,330
State Tax(0%)	$0
Net Lumpsum Payment	$75,954,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,048,719	-$1,458,356 -$0	$2,590,363
2	$4,251,276	-$1,533,303 -$0	$2,717,973
3	$4,463,786	-$1,611,931 -$0	$2,851,855
4	$4,687,056	-$1,694,541 -$0	$2,992,515
5	$4,921,355	-$1,781,232 -$0	$3,140,123
6	$5,167,490	-$1,872,302 -$0	$3,295,188
7	$5,425,730	-$1,967,850 -$0	$3,457,880
8	$5,697,151	-$2,068,276 -$0	$3,628,875
9	$5,982,022	-$2,173,679 -$0	$3,808,343
10	$6,281,150	-$2,284,356 -$0	$3,996,794
11	$6,595,073	-$2,400,507 -$0	$4,194,566
12	$6,924,867	-$2,522,531 -$0	$4,402,336
13	$7,271,070	-$2,650,626 -$0	$4,620,444
14	$7,634,758	-$2,785,191 -$0	$4,849,567
15	$8,016,469	-$2,926,424 -$0	$5,090,045
16	$8,417,279	-$3,074,724 -$0	$5,342,555
17	$8,837,995	-$3,230,389 -$0	$5,607,606
18	$9,279,962	-$3,393,916 -$0	$5,886,046
19	$9,743,987	-$3,565,606 -$0	$6,178,381
20	$10,231,146	-$3,745,854 -$0	$6,485,292
21	$10,742,784	-$3,935,160 -$0	$6,807,624
22	$11,279,977	-$4,133,922 -$0	$7,146,055
23	$11,843,801	-$4,342,537 -$0	$7,501,264
24	$12,436,139	-$4,561,702 -$0	$7,874,437
25	$13,057,798	-$4,791,716 -$0	$8,266,082
26	$13,710,930	-$5,033,374 -$0	$8,677,556
27	$14,396,342	-$5,286,977 -$0	$9,109,365
28	$15,116,186	-$5,553,319 -$0	$9,562,867
29	$15,872,076	-$5,832,999 -$0	$10,039,077
30	$16,665,626	-$6,126,612 -$0	$10,539,014