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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky 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(4.5%) | $2,587,500 | | Net Lumpsum Payment | $33,677,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,971,681 |
$689,852
$88,726 |
$1,193,103 |
| 2 |
$2,070,324 |
$726,350
$93,165 |
$1,250,809 |
| 3 |
$2,173,814 |
$764,642
$97,822 |
$1,311,350 |
| 4 |
$2,282,544 |
$804,872
$102,714 |
$1,374,958 |
| 5 |
$2,396,645 |
$847,089
$107,849 |
$1,441,707 |
| 6 |
$2,516,510 |
$891,439
$113,243 |
$1,511,828 |
| 7 |
$2,642,270 |
$937,970
$118,902 |
$1,585,398 |
| 8 |
$2,774,449 |
$986,877
$124,850 |
$1,662,722 |
| 9 |
$2,913,178 |
$1,038,206
$131,093 |
$1,743,879 |
| 10 |
$3,058,850 |
$1,092,105
$137,648 |
$1,829,097 |
| 11 |
$3,211,727 |
$1,148,669
$144,528 |
$1,918,530 |
| 12 |
$3,372,333 |
$1,208,094
$151,755 |
$2,012,484 |
| 13 |
$3,540,930 |
$1,270,474
$159,342 |
$2,111,114 |
| 14 |
$3,718,042 |
$1,336,006
$167,312 |
$2,214,724 |
| 15 |
$3,903,931 |
$1,404,785
$175,677 |
$2,323,469 |
| 16 |
$4,099,121 |
$1,477,005
$184,460 |
$2,437,656 |
| 17 |
$4,304,005 |
$1,552,812
$193,680 |
$2,557,513 |
| 18 |
$4,519,238 |
$1,632,448
$203,366 |
$2,683,424 |
| 19 |
$4,745,213 |
$1,716,059
$213,535 |
$2,815,619 |
| 20 |
$4,982,454 |
$1,803,838
$224,210 |
$2,954,406 |
| 21 |
$5,231,616 |
$1,896,028
$235,423 |
$3,100,165 |
| 22 |
$5,493,223 |
$1,992,823
$247,195 |
$3,253,205 |
| 23 |
$5,767,799 |
$2,094,416
$259,551 |
$3,413,832 |
| 24 |
$6,056,261 |
$2,201,147
$272,532 |
$3,582,582 |
| 25 |
$6,359,002 |
$2,313,161
$286,155 |
$3,759,686 |
| 26 |
$6,677,070 |
$2,430,846
$300,468 |
$3,945,756 |
| 27 |
$7,010,858 |
$2,554,348
$315,489 |
$4,141,021 |
| 28 |
$7,361,414 |
$2,684,054
$331,264 |
$4,346,096 |
| 29 |
$7,729,524 |
$2,820,254
$347,829 |
$4,561,441 |
| 30 |
$8,115,974 |
$2,963,241
$365,219 |
$4,787,514 |
|
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