Tennessee Lottery

TNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Aug 22, 2026 is estimated to be $68 Million, with a cash option of 29.5 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 Tennessee, 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.

Tennessee Powerball Jackpot/Cash Option for Sat Aug 22, 2026

Draw Date	Jackpot	Cash Option
Sat Aug 22, 2026	$68,000,000	$29,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$29,500,000
Federal Tax(24%)	$7,080,000
Additional Federal Tax	$3,795,330
State Tax(0%)	$0
Net Lumpsum Payment	$18,624,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,023,468	-$339,014 -$0	$684,454
2	$1,074,672	-$357,959 -$0	$716,713
3	$1,128,392	-$377,835 -$0	$750,557
4	$1,184,832	-$398,718 -$0	$786,114
5	$1,244,060	-$420,633 -$0	$823,427
6	$1,306,280	-$443,654 -$0	$862,626
7	$1,371,560	-$467,808 -$0	$903,752
8	$1,440,172	-$493,194 -$0	$946,978
9	$1,512,184	-$519,838 -$0	$992,346
10	$1,587,800	-$547,816 -$0	$1,039,984
11	$1,667,156	-$577,178 -$0	$1,089,978
12	$1,750,524	-$608,024 -$0	$1,142,500
13	$1,838,040	-$640,405 -$0	$1,197,635
14	$1,929,976	-$674,422 -$0	$1,255,554
15	$2,026,468	-$710,124 -$0	$1,316,344
16	$2,127,788	-$747,612 -$0	$1,380,176
17	$2,234,140	-$786,962 -$0	$1,447,178
18	$2,345,864	-$828,300 -$0	$1,517,564
19	$2,463,164	-$871,701 -$0	$1,591,463
20	$2,586,312	-$917,266 -$0	$1,669,046
21	$2,715,648	-$965,120 -$0	$1,750,528
22	$2,851,444	-$1,015,365 -$0	$1,836,079
23	$2,993,972	-$1,068,100 -$0	$1,925,872
24	$3,143,708	-$1,123,502 -$0	$2,020,206
25	$3,300,856	-$1,181,647 -$0	$2,119,209
26	$3,465,960	-$1,242,736 -$0	$2,223,224
27	$3,639,224	-$1,306,843 -$0	$2,332,381
28	$3,821,192	-$1,374,171 -$0	$2,447,021
29	$4,012,272	-$1,444,871 -$0	$2,567,401
30	$4,212,872	-$1,519,093 -$0	$2,693,779