$350 Million Powerball after taxes
$350 Million Powerball jackpot, cash option about $149.3 million. Single filer.
You keep about
$94.1 million in cash where there is no state income tax
Ninety-four million one hundred thirty-seven thousand three hundred fifty and 00/100 dollars
From $72.1 million in New York City to $94.1 million in Alaska, California, Florida, Nevada and 6 more.
Hypothetical jackpot. Cash value estimated from the current official Powerball cash-to-jackpot ratio (42.7%, as of Sep 24, 2026). Tax rules for 2026.
| Item | Amount | Share of jackpot |
|---|---|---|
| Advertised jackpotSum of 30 annuity payments | $350,000,000 | |
| Cash optionEstimated at 42.7% of the jackpot, the current official ratio | $149,345,000 | |
| Federal tax withheld at claim24% of the prize | −$35,842,800 | |
| Federal tax still owed at filingTop bracket is 37% | −$19,364,850 | |
| Texas state taxNo state income tax | $0 | |
| You keep26.9% of the advertised jackpot | $94,137,350 |
All 50 states and DC
| State | Cash kept | Annuity kept |
|---|---|---|
| Wyoming State tax: none | $94.1 million | $222 million |
| Wisconsin State tax: 7.65% | $82.7 million | $195.2 million |
| West Virginia State tax: 4.58% | $87.3 million | $206 million |
| Washington State tax: none | $94.1 million | $222 million |
| Virginia State tax: 5.75% | $85.6 million | $201.9 million |
| Vermont State tax: 8.75% | $81.1 million | $191.4 million |
| Utah* State tax: 4.45% | $87.5 million | $206.4 million |
| Texas State tax: none | $94.1 million | $222 million |
| Tennessee State tax: none | $94.1 million | $222 million |
| South Dakota State tax: none | $94.1 million | $222 million |
| South Carolina State tax: 5.21% | $86.4 million | $203.8 million |
| Rhode Island State tax: 5.99% | $85.2 million | $201 million |
| Pennsylvania State tax: 3.07% | $89.6 million | $211.3 million |
| Oregon State tax: 9.9% | $79.4 million | $187.3 million |
| Oklahoma State tax: 4.5% | $87.4 million | $206.2 million |
| Ohio State tax: 2.75% | $90 million | $212.4 million |
| North Dakota State tax: 2.5% | $90.4 million | $213.2 million |
| North Carolina State tax: 3.99% | $88.2 million | $208 million |
| New York State tax: 10.9% | $77.9 million | $183.8 million |
| New York City State tax: 14.776% | $72.1 million | $170.3 million |
| Yonkers State tax: 12.726% | $75.1 million | $177.5 million |
| New Mexico State tax: 5.9% | $85.3 million | $201.3 million |
| New Jersey State tax: 10.75% | $78.1 million | $184.4 million |
| New Hampshire State tax: none | $94.1 million | $222 million |
| Nevada* State tax: none | $94.1 million | $222 million |
| Nebraska State tax: 4.55% | $87.3 million | $206.1 million |
| Montana State tax: 5.65% | $85.7 million | $202.2 million |
| Missouri State tax: 4.7% | $87.1 million | $205.5 million |
| Mississippi State tax: 4% | $88.2 million | $208 million |
| Minnesota State tax: 9.85% | $79.4 million | $187.5 million |
| Michigan State tax: 4.25% | $87.8 million | $207.1 million |
| Massachusetts State tax: 9% | $80.7 million | $190.5 million |
| Maryland State tax: 6.5% | $84.4 million | $199.2 million |
| Maine State tax: 9.15% | $80.5 million | $190 million |
| Louisiana State tax: 3% | $89.7 million | $211.5 million |
| Kentucky State tax: 3.5% | $88.9 million | $209.7 million |
| Kansas State tax: 5.58% | $85.8 million | $202.5 million |
| Iowa State tax: 3.8% | $88.5 million | $208.7 million |
| Indiana State tax: 2.95% | $89.7 million | $211.7 million |
| Illinois State tax: 4.95% | $86.7 million | $204.7 million |
| Idaho State tax: 5.3% | $86.2 million | $203.4 million |
| Hawaii* State tax: 11% | $77.7 million | $183.5 million |
| Georgia State tax: 4.99% | $86.7 million | $204.5 million |
| Florida State tax: none | $94.1 million | $222 million |
| District of Columbia State tax: 10.75% | $78.1 million | $184.4 million |
| Delaware State tax: 6.6% | $84.3 million | $198.9 million |
| Connecticut State tax: 6.99% | $83.7 million | $197.5 million |
| Colorado State tax: 4.4% | $87.6 million | $206.6 million |
| California State tax: exempt | $94.1 million | $222 million |
| Arkansas State tax: 3.7% | $88.6 million | $209 million |
| Arizona State tax: 2.5% | $90.4 million | $213.2 million |
| Alaska* State tax: none | $94.1 million | $222 million |
| Alabama* State tax: 5% | $86.7 million | $204.5 million |
* No state lottery; residents who win with a ticket bought elsewhere still owe their home state's income tax, and the state where the ticket was bought may tax it first. Local rows (New York City, Yonkers) include state and city tax.
Lump sum or annuity
| Cash option | Annuity (30 payments) | |
|---|---|---|
| Before tax | $149,345,000 | $350,000,000 |
| Total tax | −$55,207,650 | −$128,000,008 |
| You keep | $94,137,350 | $221,999,993 |
| In today's dollarsannuity discounted at 3% a year | $94,137,350 | $134,426,930 |
| When you get it | All at once | $3.4 million now, then yearly up to $13.7 million |
The annuity keeps $127.9 million more after tax in total but pays it over 29 years; the cash would need to earn 5.47% a year after tax to fund the same payments. How to think about the choice.
30 annuity payments from $3.4 million to $13.7 million after tax
| Payment | Year | Before tax | Federal | State | After tax |
|---|---|---|---|---|---|
| 1 | 2026 | $5,268,002 | −$1,899,161 | $0 | $3,368,841 |
| 2 | 2027 | $5,531,402 | −$1,996,619 | $0 | $3,534,783 |
| 3 | 2028 | $5,807,973 | −$2,098,950 | $0 | $3,709,022 |
| 4 | 2029 | $6,098,371 | −$2,206,398 | $0 | $3,891,974 |
| 5 | 2030 | $6,403,290 | −$2,319,217 | $0 | $4,084,072 |
| 6 | 2031 | $6,723,454 | −$2,437,678 | $0 | $4,285,776 |
| 7 | 2032 | $7,059,627 | −$2,562,062 | $0 | $4,497,565 |
| 8 | 2033 | $7,412,608 | −$2,692,665 | $0 | $4,719,943 |
| 9 | 2034 | $7,783,239 | −$2,829,799 | $0 | $4,953,440 |
| 10 | 2035 | $8,172,401 | −$2,973,788 | $0 | $5,198,612 |
| 11 | 2036 | $8,581,021 | −$3,124,978 | $0 | $5,456,043 |
| 12 | 2037 | $9,010,072 | −$3,283,727 | $0 | $5,726,345 |
| 13 | 2038 | $9,460,575 | −$3,450,413 | $0 | $6,010,162 |
| 14 | 2039 | $9,933,604 | −$3,625,434 | $0 | $6,308,170 |
| 15 | 2040 | $10,430,284 | −$3,809,205 | $0 | $6,621,079 |
| 16 | 2041 | $10,951,798 | −$4,002,166 | $0 | $6,949,633 |
| 17 | 2042 | $11,499,388 | −$4,204,774 | $0 | $7,294,614 |
| 18 | 2043 | $12,074,358 | −$4,417,513 | $0 | $7,656,845 |
| 19 | 2044 | $12,678,076 | −$4,640,888 | $0 | $8,037,187 |
| 20 | 2045 | $13,311,979 | −$4,875,433 | $0 | $8,436,547 |
| 21 | 2046 | $13,977,578 | −$5,121,704 | $0 | $8,855,874 |
| 22 | 2047 | $14,676,457 | −$5,380,289 | $0 | $9,296,168 |
| 23 | 2048 | $15,410,280 | −$5,651,804 | $0 | $9,758,476 |
| 24 | 2049 | $16,180,794 | −$5,936,894 | $0 | $10,243,900 |
| 25 | 2050 | $16,989,834 | −$6,236,239 | $0 | $10,753,595 |
| 26 | 2051 | $17,839,326 | −$6,550,551 | $0 | $11,288,775 |
| 27 | 2052 | $18,731,292 | −$6,880,578 | $0 | $11,850,714 |
| 28 | 2053 | $19,667,856 | −$7,227,107 | $0 | $12,440,749 |
| 29 | 2054 | $20,651,249 | −$7,590,962 | $0 | $13,060,287 |
| 30 | 2055 | $21,683,812 | −$7,973,011 | $0 | $13,710,801 |
| Total | $350,000,000 | −$128,000,008 | $0 | $221,999,993 | |
Questions
How much is a $350 million Powerball after taxes?
About $94.1 million in cash in a state with no income tax, down to $72.1 million in New York City. The cash option is about $149.3 million (estimated with the current cash-to-jackpot ratio of 42.7%) before taxes.
What is the cash value of a $350 million Powerball jackpot?
About $149.3 million. The advertised $350 million is the sum of 30 annuity payments; the cash option is the money actually in the jackpot pool, which is why it is smaller.
How much is the $350 million Powerball annuity per year after taxes?
The first payment is about $5.3 million before taxes and $3.4 million after federal tax, rising 5% a year to $13.7 million after tax in year 30 (before any state tax).
How much federal tax do you pay on a $350 million Powerball jackpot?
About $55.2 million on the cash option: $35.8 million withheld at claim (24%) and about $19.4 million more when you file, because the top bracket is 37%.
Which state is best to win a $350 million Powerball jackpot in?
You keep the most, $94.1 million in cash, in Alaska, California, Florida, Nevada, New Hampshire, South Dakota and 4 more. You keep the least in New York City.
These figures describe the taxes on a prize that has already been won; they are not a reason to buy a ticket. Jackpot odds are hundreds of millions to one. If gambling is causing problems for you or someone close to you, call or text 1-800-GAMBLER (National Problem Gambling Helpline, 24/7).
Sources for this page
- IRS: 2026 inflation adjustments (Rev. Proc. 2025-32) (checked Sep 26, 2026)
- IRS Publication 505: withholding on gambling winnings (checked Sep 26, 2026)
- Powerball home page (checked Sep 26, 2026)
- $1.817 billion Powerball jackpot won in Arkansas (powerball.com) (checked Sep 26, 2026)
- Powerball FAQs (checked Sep 26, 2026)
- Report of the official jackpot estimate used here (checked Sep 26, 2026)
- State rules: see the sources page for all 51 jurisdictions
Figures are estimates for planning, not tax or legal advice. How they are calculated: methodology. Read the disclaimer.