Florida Lottery

FLLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 3, 2026 is estimated to be $748 Million, with a cash option of 325.1 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 Florida, 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.

Florida Powerball Jackpot/Cash Option for Mon Aug 3, 2026

Draw Date	Jackpot	Cash Option
Mon Aug 3, 2026	$748,000,000	$325,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$325,100,000
Federal Tax(24%)	$78,024,000
Additional Federal Tax	$42,223,330
State Tax(0%)	$0
Net Lumpsum Payment	$204,852,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,258,148	-$4,125,845 -$0	$7,132,303
2	$11,821,392	-$4,334,245 -$0	$7,487,147
3	$12,412,312	-$4,552,886 -$0	$7,859,426
4	$13,033,152	-$4,782,597 -$0	$8,250,555
5	$13,684,660	-$5,023,655 -$0	$8,661,005
6	$14,369,080	-$5,276,890 -$0	$9,092,190
7	$15,087,160	-$5,542,580 -$0	$9,544,580
8	$15,841,892	-$5,821,830 -$0	$10,020,062
9	$16,634,024	-$6,114,919 -$0	$10,519,105
10	$17,465,800	-$6,422,676 -$0	$11,043,124
11	$18,338,716	-$6,745,655 -$0	$11,593,061
12	$19,255,764	-$7,084,963 -$0	$12,170,801
13	$20,218,440	-$7,441,153 -$0	$12,777,287
14	$21,229,736	-$7,815,333 -$0	$13,414,403
15	$22,291,148	-$8,208,055 -$0	$14,083,093
16	$23,405,668	-$8,620,428 -$0	$14,785,240
17	$24,575,540	-$9,053,280 -$0	$15,522,260
18	$25,804,504	-$9,507,997 -$0	$16,296,507
19	$27,094,804	-$9,985,408 -$0	$17,109,396
20	$28,449,432	-$10,486,620 -$0	$17,962,812
21	$29,872,128	-$11,013,018 -$0	$18,859,110
22	$31,365,884	-$11,565,707 -$0	$19,800,177
23	$32,933,692	-$12,145,796 -$0	$20,787,896
24	$34,580,788	-$12,755,222 -$0	$21,825,566
25	$36,309,416	-$13,394,814 -$0	$22,914,602
26	$38,125,560	-$14,066,788 -$0	$24,058,772
27	$40,031,464	-$14,771,972 -$0	$25,259,492
28	$42,033,112	-$15,512,582 -$0	$26,520,530
29	$44,134,992	-$16,290,277 -$0	$27,844,715
30	$46,341,592	-$17,106,719 -$0	$29,234,873