Powerball Jackpot Nears $750 Million—Here’s What A Winner Would Take Home After Taxes
By Zachary Folk,
Forbes Staff.
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Aug 02, 2026, 10:17am EDT
Topline
The Powerball jackpot grew to $748 million after no winning tickets were drawn on Saturday night, however a potential winner would ultimately take home far less after taxes.
No winners were drawn on Saturday night, but multiple people won prizes of at least $1 million.
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Key Facts
No tickets matched all five numbers drawn on Saturday night (6, 17, 27, 48, 50 and Powerball number 5), so the jackpot grew again, to an estimated $748 million for the next drawing.
If a winner is drawn on Monday night, they will be given an option to take the entire $748 million in 30 annual payments, or receive a lump sum worth about $325.1 million immediately.
Most winners opt to take the lump sum, and if a winner does so on Monday they will immediately face a 24% federal withholding tax, bringing the prize down to about $247 million.
Income from the prize will likely put winners in the highest tax bracket, meaning they would also face a 37% federal marginal rate—bringing the prize down further to about $204.8 million.
If a winner takes the annuity, they will instead receive their prize in 30 payments that grow by 5% each year for the next 29 years—for a grand total of about $471 million after factoring in federal taxes.
Winners will also face state taxes, which can range as high as New York’s 10.9%—although some states, including Texas, California and Alaska, do not tax lottery winnings at all.
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