Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Feb 7, 2026 is estimated to be $102 Million, with a cash option of 46.1 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. Additionally, if you are a resident of Michigan, your state will take 4.25% 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.

Michigan Powerball Jackpot/Cash Option for Sat Feb 7, 2026

Draw Date	Jackpot	Cash Option
Sat Feb 7, 2026	$102,000,000	$46,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$46,100,000
Federal Tax(24%)	$11,064,000
Additional Federal Tax	$5,953,330
State Tax(4.25%)	$1,959,250
Net Lumpsum Payment	$27,123,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,535,202	-$528,355 -$65,246	$941,601
2	$1,612,008	-$556,773 -$68,510	$986,725
3	$1,692,588	-$586,588 -$71,935	$1,034,065
4	$1,777,248	-$617,912 -$75,533	$1,083,803
5	$1,866,090	-$650,784 -$79,309	$1,135,997
6	$1,959,420	-$685,316 -$83,275	$1,190,829
7	$2,057,340	-$721,546 -$87,437	$1,248,357
8	$2,160,258	-$759,626 -$91,811	$1,308,821
9	$2,268,276	-$799,593 -$96,402	$1,372,281
10	$2,381,700	-$841,559 -$101,222	$1,438,919
11	$2,500,734	-$885,602 -$106,281	$1,508,851
12	$2,625,786	-$931,871 -$111,596	$1,582,319
13	$2,757,060	-$980,443 -$117,175	$1,659,442
14	$2,894,964	-$1,031,467 -$123,036	$1,740,461
15	$3,039,702	-$1,085,020 -$129,187	$1,825,495
16	$3,191,682	-$1,141,253 -$135,646	$1,914,783
17	$3,351,210	-$1,200,278 -$142,426	$2,008,506
18	$3,518,796	-$1,262,285 -$149,549	$2,106,962
19	$3,694,746	-$1,327,386 -$157,027	$2,210,333
20	$3,879,468	-$1,395,734 -$164,877	$2,318,857
21	$4,073,472	-$1,467,515 -$173,123	$2,432,834
22	$4,277,166	-$1,542,882 -$181,780	$2,552,504
23	$4,490,958	-$1,621,985 -$190,866	$2,678,107
24	$4,715,562	-$1,705,088 -$200,411	$2,810,063
25	$4,951,284	-$1,792,305 -$210,430	$2,948,549
26	$5,198,940	-$1,883,938 -$220,955	$3,094,047
27	$5,458,836	-$1,980,100 -$232,001	$3,246,735
28	$5,731,788	-$2,081,092 -$243,601	$3,407,095
29	$6,018,408	-$2,187,141 -$255,782	$3,575,485
30	$6,319,308	-$2,298,474 -$268,571	$3,752,263