The jackpot for the Powerball draw on Wed Jul 16, 2025, is projected to be $264 Million, with an option for a cash payout of $119.7 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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West Virginia Powerball Jackpot/Cash Option for Wed Jul 16, 2025 |
|---|
| Draw Date | Wed Jul 16, 2025 | | Projected Jackpot | $264,000,000 | | Cash Value | $119,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $119,700,000 | | Federal Tax(24%) | $28,728,000 | | Additional Federal Tax | $15,521,330 | | State Tax(6.5%) | $7,780,500 | | Net Lumpsum Payment | $67,670,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,973,464 |
$1,430,512
$258,275 |
$2,284,677 |
| 2 |
$4,172,256 |
$1,504,065
$271,197 |
$2,396,994 |
| 3 |
$4,380,816 |
$1,581,232
$284,753 |
$2,514,831 |
| 4 |
$4,599,936 |
$1,662,307
$298,996 |
$2,638,633 |
| 5 |
$4,829,880 |
$1,747,386
$313,942 |
$2,768,552 |
| 6 |
$5,071,440 |
$1,836,763
$329,644 |
$2,905,033 |
| 7 |
$5,324,880 |
$1,930,536
$346,117 |
$3,048,227 |
| 8 |
$5,591,256 |
$2,029,095
$363,432 |
$3,198,729 |
| 9 |
$5,870,832 |
$2,132,538
$381,604 |
$3,356,690 |
| 10 |
$6,164,400 |
$2,241,158
$400,686 |
$3,522,556 |
| 11 |
$6,472,488 |
$2,355,151
$420,712 |
$3,696,625 |
| 12 |
$6,796,152 |
$2,474,907
$441,750 |
$3,879,495 |
| 13 |
$7,135,920 |
$2,600,621
$463,835 |
$4,071,464 |
| 14 |
$7,492,848 |
$2,732,684
$487,035 |
$4,273,129 |
| 15 |
$7,867,464 |
$2,871,292
$511,385 |
$4,484,787 |
| 16 |
$8,260,824 |
$3,016,835
$536,954 |
$4,707,035 |
| 17 |
$8,673,720 |
$3,169,607
$563,792 |
$4,940,321 |
| 18 |
$9,107,472 |
$3,330,095
$591,986 |
$5,185,391 |
| 19 |
$9,562,872 |
$3,498,593
$621,587 |
$5,442,692 |
| 20 |
$10,040,976 |
$3,675,492
$652,663 |
$5,712,821 |
| 21 |
$10,543,104 |
$3,861,279
$685,302 |
$5,996,523 |
| 22 |
$11,070,312 |
$4,056,346
$719,570 |
$6,294,396 |
| 23 |
$11,623,656 |
$4,261,083
$755,538 |
$6,607,035 |
| 24 |
$12,204,984 |
$4,476,174
$793,324 |
$6,935,486 |
| 25 |
$12,815,088 |
$4,701,913
$832,981 |
$7,280,194 |
| 26 |
$13,456,080 |
$4,939,080
$874,645 |
$7,642,355 |
| 27 |
$14,128,752 |
$5,187,969
$918,369 |
$8,022,414 |
| 28 |
$14,835,216 |
$5,449,360
$964,289 |
$8,421,567 |
| 29 |
$15,577,056 |
$5,723,841
$1,012,509 |
$8,840,706 |
| 30 |
$16,355,856 |
$6,011,997
$1,063,131 |
$9,280,728 |
|
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