Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Feb 16, 2026 is estimated to be $154 Million, with a cash option of 72.2 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 Mon Feb 16, 2026

Draw Date	Jackpot	Cash Option
Mon Feb 16, 2026	$154,000,000	$72,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$72,200,000
Federal Tax(24%)	$17,328,000
Additional Federal Tax	$9,346,330
State Tax(4.25%)	$3,068,500
Net Lumpsum Payment	$42,457,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,317,854	-$817,936 -$98,509	$1,401,409
2	$2,433,816	-$860,842 -$103,437	$1,469,537
3	$2,555,476	-$905,857 -$108,608	$1,541,011
4	$2,683,296	-$953,150 -$114,040	$1,616,106
5	$2,817,430	-$1,002,779 -$119,741	$1,694,910
6	$2,958,340	-$1,054,916 -$125,729	$1,777,695
7	$3,106,180	-$1,109,617 -$132,013	$1,864,550
8	$3,261,566	-$1,167,110 -$138,617	$1,955,839
9	$3,424,652	-$1,227,452 -$145,548	$2,051,652
10	$3,595,900	-$1,290,813 -$152,826	$2,152,261
11	$3,775,618	-$1,357,309 -$160,464	$2,257,845
12	$3,964,422	-$1,427,167 -$168,488	$2,368,767
13	$4,162,620	-$1,500,500 -$176,911	$2,485,209
14	$4,370,828	-$1,577,537 -$185,760	$2,607,531
15	$4,589,354	-$1,658,391 -$195,048	$2,735,915
16	$4,818,814	-$1,743,292 -$204,800	$2,870,722
17	$5,059,670	-$1,832,408 -$215,036	$3,012,226
18	$5,312,692	-$1,926,026 -$225,789	$3,160,877
19	$5,578,342	-$2,024,317 -$237,080	$3,316,945
20	$5,857,236	-$2,127,508 -$248,933	$3,480,795
21	$6,150,144	-$2,235,884 -$261,381	$3,652,879
22	$6,457,682	-$2,349,673 -$274,451	$3,833,558
23	$6,780,466	-$2,469,103 -$288,170	$4,023,193
24	$7,119,574	-$2,594,573 -$302,582	$4,222,419
25	$7,475,468	-$2,726,254 -$317,707	$4,431,507
26	$7,849,380	-$2,864,601 -$333,599	$4,651,180
27	$8,241,772	-$3,009,786 -$350,275	$4,881,711
28	$8,653,876	-$3,162,265 -$367,790	$5,123,821
29	$9,086,616	-$3,322,378 -$386,181	$5,378,057
30	$9,540,916	-$3,490,469 -$405,489	$5,644,958