Ohio Lottery

OHLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 24, 2026 is estimated to be $81 Million, with a cash option of 34.8 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 Ohio, your state will take 3.99% 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.

Ohio Powerball Jackpot/Cash Option for Mon Aug 24, 2026

Draw Date	Jackpot	Cash Option
Mon Aug 24, 2026	$81,000,000	$34,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,800,000
Federal Tax(24%)	$8,352,000
Additional Federal Tax	$4,484,330
State Tax(3.99%)	$1,388,520
Net Lumpsum Payment	$20,575,150

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,219,131	-$411,409 -$48,643	$759,079
2	$1,280,124	-$433,976 -$51,077	$795,071
3	$1,344,114	-$457,653 -$53,630	$832,831
4	$1,411,344	-$482,528 -$56,313	$872,503
5	$1,481,895	-$508,632 -$59,128	$914,135
6	$1,556,010	-$536,054 -$62,085	$957,871
7	$1,633,770	-$564,825 -$65,187	$1,003,758
8	$1,715,499	-$595,065 -$68,448	$1,051,986
9	$1,801,278	-$626,803 -$71,871	$1,102,604
10	$1,891,350	-$660,130 -$75,465	$1,155,755
11	$1,985,877	-$695,105 -$79,236	$1,211,536
12	$2,085,183	-$731,848 -$83,199	$1,270,136
13	$2,189,430	-$770,419 -$87,358	$1,331,653
14	$2,298,942	-$810,939 -$91,728	$1,396,275
15	$2,413,881	-$853,466 -$96,314	$1,464,101
16	$2,534,571	-$898,122 -$101,129	$1,535,320
17	$2,661,255	-$944,995 -$106,184	$1,610,076
18	$2,794,338	-$994,235 -$111,494	$1,688,609
19	$2,934,063	-$1,045,934 -$117,069	$1,771,060
20	$3,080,754	-$1,100,209 -$122,922	$1,857,623
21	$3,234,816	-$1,157,212 -$129,069	$1,948,535
22	$3,396,573	-$1,217,062 -$135,523	$2,043,988
23	$3,566,349	-$1,279,880 -$142,297	$2,144,172
24	$3,744,711	-$1,345,873 -$149,414	$2,249,424
25	$3,931,902	-$1,415,134 -$156,883	$2,359,885
26	$4,128,570	-$1,487,901 -$164,730	$2,475,939
27	$4,334,958	-$1,564,265 -$172,965	$2,597,728
28	$4,551,714	-$1,644,465 -$181,613	$2,725,636
29	$4,779,324	-$1,728,680 -$190,695	$2,859,949
30	$5,018,274	-$1,817,092 -$200,229	$3,000,953