The jackpot for the Powerball draw on Sat May 23, 2026, is projected to be $131 Million, with an option for a cash payout of $57.5 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC Powerball Jackpot/Cash Option for Sat May 23, 2026 |
|---|
| Draw Date | Sat May 23, 2026 | | Projected Jackpot | $131,000,000 | | Cash Value | $57,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,500,000 | | Federal Tax(24%) | $13,800,000 | | Additional Federal Tax | $7,435,330 | | State Tax(10.75%) | $6,181,250 | | Net Lumpsum Payment | $30,083,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,971,681 |
$689,852
$211,956 |
$1,069,873 |
| 2 |
$2,070,324 |
$726,350
$222,560 |
$1,121,414 |
| 3 |
$2,173,814 |
$764,642
$233,685 |
$1,175,487 |
| 4 |
$2,282,544 |
$804,872
$245,373 |
$1,232,299 |
| 5 |
$2,396,645 |
$847,089
$257,639 |
$1,291,917 |
| 6 |
$2,516,510 |
$891,439
$270,525 |
$1,354,546 |
| 7 |
$2,642,270 |
$937,970
$284,044 |
$1,420,256 |
| 8 |
$2,774,449 |
$986,877
$298,253 |
$1,489,319 |
| 9 |
$2,913,178 |
$1,038,206
$313,167 |
$1,561,805 |
| 10 |
$3,058,850 |
$1,092,105
$328,826 |
$1,637,919 |
| 11 |
$3,211,727 |
$1,148,669
$345,261 |
$1,717,797 |
| 12 |
$3,372,333 |
$1,208,094
$362,526 |
$1,801,713 |
| 13 |
$3,540,930 |
$1,270,474
$380,650 |
$1,889,806 |
| 14 |
$3,718,042 |
$1,336,006
$399,690 |
$1,982,346 |
| 15 |
$3,903,931 |
$1,404,785
$419,673 |
$2,079,473 |
| 16 |
$4,099,121 |
$1,477,005
$440,656 |
$2,181,460 |
| 17 |
$4,304,005 |
$1,552,812
$462,681 |
$2,288,512 |
| 18 |
$4,519,238 |
$1,632,448
$485,818 |
$2,400,972 |
| 19 |
$4,745,213 |
$1,716,059
$510,110 |
$2,519,044 |
| 20 |
$4,982,454 |
$1,803,838
$535,614 |
$2,643,002 |
| 21 |
$5,231,616 |
$1,896,028
$562,399 |
$2,773,189 |
| 22 |
$5,493,223 |
$1,992,823
$590,521 |
$2,909,879 |
| 23 |
$5,767,799 |
$2,094,416
$620,038 |
$3,053,345 |
| 24 |
$6,056,261 |
$2,201,147
$651,048 |
$3,204,066 |
| 25 |
$6,359,002 |
$2,313,161
$683,593 |
$3,362,248 |
| 26 |
$6,677,070 |
$2,430,846
$717,785 |
$3,528,439 |
| 27 |
$7,010,858 |
$2,554,348
$753,667 |
$3,702,843 |
| 28 |
$7,361,414 |
$2,684,054
$791,352 |
$3,886,008 |
| 29 |
$7,729,524 |
$2,820,254
$830,924 |
$4,078,346 |
| 30 |
$8,115,974 |
$2,963,241
$872,467 |
$4,280,266 |
|
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