Indiana Lottery

INLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 23, 2026 is estimated to be $131 Million, with a cash option of 57.5 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. Additionally, if you are a resident of Indiana, your state will take 3.15% of 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.

Indiana Powerball Jackpot/Cash Option for Sat May 23, 2026

Draw Date	Jackpot	Cash Option
Sat May 23, 2026	$131,000,000	$57,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$57,500,000
Federal Tax(24%)	$13,800,000
Additional Federal Tax	$7,435,330
State Tax(3.15%)	$1,811,250
Net Lumpsum Payment	$34,453,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,971,681	-$689,852 -$62,108	$1,219,721
2	$2,070,324	-$726,350 -$65,215	$1,278,759
3	$2,173,814	-$764,642 -$68,475	$1,340,697
4	$2,282,544	-$804,872 -$71,900	$1,405,772
5	$2,396,645	-$847,089 -$75,494	$1,474,062
6	$2,516,510	-$891,439 -$79,270	$1,545,801
7	$2,642,270	-$937,970 -$83,232	$1,621,068
8	$2,774,449	-$986,877 -$87,395	$1,700,177
9	$2,913,178	-$1,038,206 -$91,765	$1,783,207
10	$3,058,850	-$1,092,105 -$96,354	$1,870,391
11	$3,211,727	-$1,148,669 -$101,169	$1,961,889
12	$3,372,333	-$1,208,094 -$106,228	$2,058,011
13	$3,540,930	-$1,270,474 -$111,539	$2,158,917
14	$3,718,042	-$1,336,006 -$117,118	$2,264,918
15	$3,903,931	-$1,404,785 -$122,974	$2,376,172
16	$4,099,121	-$1,477,005 -$129,122	$2,492,994
17	$4,304,005	-$1,552,812 -$135,576	$2,615,617
18	$4,519,238	-$1,632,448 -$142,356	$2,744,434
19	$4,745,213	-$1,716,059 -$149,474	$2,879,680
20	$4,982,454	-$1,803,838 -$156,947	$3,021,669
21	$5,231,616	-$1,896,028 -$164,796	$3,170,792
22	$5,493,223	-$1,992,823 -$173,037	$3,327,363
23	$5,767,799	-$2,094,416 -$181,686	$3,491,697
24	$6,056,261	-$2,201,147 -$190,772	$3,664,342
25	$6,359,002	-$2,313,161 -$200,309	$3,845,532
26	$6,677,070	-$2,430,846 -$210,328	$4,035,896
27	$7,010,858	-$2,554,348 -$220,842	$4,235,668
28	$7,361,414	-$2,684,054 -$231,885	$4,445,475
29	$7,729,524	-$2,820,254 -$243,480	$4,665,790
30	$8,115,974	-$2,963,241 -$255,653	$4,897,080