The jackpot for the Powerball draw on Sat Jan 31, 2026, is projected to be $57 Million, with an option for a cash payout of $25.8 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 Virginia residents, the state will deduct 4% from your lottery earnings.
| Virginia Powerball Jackpot/Cash Option for Sat Jan 31, 2026 |
|---|
| Draw Date | Sat Jan 31, 2026 | | Projected Jackpot | $57,000,000 | | Cash Value | $25,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $25,800,000 | | Federal Tax(24%) | $6,192,000 | | Additional Federal Tax | $3,314,330 | | State Tax(4%) | $1,032,000 | | Net Lumpsum Payment | $15,261,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$857,907 |
$277,756
$34,316 |
$545,835 |
| 2 |
$900,828 |
$293,637
$36,033 |
$571,158 |
| 3 |
$945,858 |
$310,298
$37,834 |
$597,726 |
| 4 |
$993,168 |
$327,803
$39,727 |
$625,638 |
| 5 |
$1,042,815 |
$346,172
$41,713 |
$654,930 |
| 6 |
$1,094,970 |
$365,469
$43,799 |
$685,702 |
| 7 |
$1,149,690 |
$385,716
$45,988 |
$717,986 |
| 8 |
$1,207,203 |
$406,995
$48,288 |
$751,920 |
| 9 |
$1,267,566 |
$429,330
$50,703 |
$787,533 |
| 10 |
$1,330,950 |
$452,782
$53,238 |
$824,930 |
| 11 |
$1,397,469 |
$477,394
$55,899 |
$864,176 |
| 12 |
$1,467,351 |
$503,250
$58,694 |
$905,407 |
| 13 |
$1,540,710 |
$530,393
$61,628 |
$948,689 |
| 14 |
$1,617,774 |
$558,907
$64,711 |
$994,156 |
| 15 |
$1,698,657 |
$588,833
$67,946 |
$1,041,878 |
| 16 |
$1,783,587 |
$620,258
$71,343 |
$1,091,986 |
| 17 |
$1,872,735 |
$653,242
$74,909 |
$1,144,584 |
| 18 |
$1,966,386 |
$687,893
$78,655 |
$1,199,838 |
| 19 |
$2,064,711 |
$724,273
$82,588 |
$1,257,850 |
| 20 |
$2,167,938 |
$762,467
$86,718 |
$1,318,753 |
| 21 |
$2,276,352 |
$802,581
$91,054 |
$1,382,717 |
| 22 |
$2,390,181 |
$844,697
$95,607 |
$1,449,877 |
| 23 |
$2,509,653 |
$888,902
$100,386 |
$1,520,365 |
| 24 |
$2,635,167 |
$935,342
$105,407 |
$1,594,418 |
| 25 |
$2,766,894 |
$984,081
$110,676 |
$1,672,137 |
| 26 |
$2,905,290 |
$1,035,288
$116,212 |
$1,753,790 |
| 27 |
$3,050,526 |
$1,089,025
$122,021 |
$1,839,480 |
| 28 |
$3,203,058 |
$1,145,462
$128,122 |
$1,929,474 |
| 29 |
$3,363,228 |
$1,204,725
$134,529 |
$2,023,974 |
| 30 |
$3,531,378 |
$1,266,940
$141,255 |
$2,123,183 |
|
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