The jackpot for the Powerball draw on Sat Jul 12, 2025, is projected to be $234 Million, with an option for a cash payout of $106.6 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 Jul 12, 2025 |
|---|
| Draw Date | Sat Jul 12, 2025 | | Projected Jackpot | $234,000,000 | | Cash Value | $106,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $106,600,000 | | Federal Tax(24%) | $25,584,000 | | Additional Federal Tax | $13,818,330 | | State Tax(4%) | $4,264,000 | | Net Lumpsum Payment | $62,933,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,521,934 |
$1,263,446
$140,877 |
$2,117,611 |
| 2 |
$3,698,136 |
$1,328,641
$147,925 |
$2,221,570 |
| 3 |
$3,882,996 |
$1,397,039
$155,320 |
$2,330,637 |
| 4 |
$4,077,216 |
$1,468,900
$163,089 |
$2,445,227 |
| 5 |
$4,281,030 |
$1,544,311
$171,241 |
$2,565,478 |
| 6 |
$4,495,140 |
$1,623,532
$179,806 |
$2,691,802 |
| 7 |
$4,719,780 |
$1,706,649
$188,791 |
$2,824,340 |
| 8 |
$4,955,886 |
$1,794,008
$198,235 |
$2,963,643 |
| 9 |
$5,203,692 |
$1,885,696
$208,148 |
$3,109,848 |
| 10 |
$5,463,900 |
$1,981,973
$218,556 |
$3,263,371 |
| 11 |
$5,736,978 |
$2,083,012
$229,479 |
$3,424,487 |
| 12 |
$6,023,862 |
$2,189,159
$240,954 |
$3,593,749 |
| 13 |
$6,325,020 |
$2,300,588
$253,001 |
$3,771,431 |
| 14 |
$6,641,388 |
$2,417,644
$265,656 |
$3,958,088 |
| 15 |
$6,973,434 |
$2,540,501
$278,937 |
$4,153,996 |
| 16 |
$7,322,094 |
$2,669,505
$292,884 |
$4,359,705 |
| 17 |
$7,688,070 |
$2,804,916
$307,523 |
$4,575,631 |
| 18 |
$8,072,532 |
$2,947,167
$322,901 |
$4,802,464 |
| 19 |
$8,476,182 |
$3,096,518
$339,047 |
$5,040,617 |
| 20 |
$8,899,956 |
$3,253,314
$355,998 |
$5,290,644 |
| 21 |
$9,345,024 |
$3,417,989
$373,801 |
$5,553,234 |
| 22 |
$9,812,322 |
$3,590,890
$392,493 |
$5,828,939 |
| 23 |
$10,302,786 |
$3,772,361
$412,111 |
$6,118,314 |
| 24 |
$10,818,054 |
$3,963,010
$432,722 |
$6,422,322 |
| 25 |
$11,358,828 |
$4,163,097
$454,353 |
$6,741,378 |
| 26 |
$11,926,980 |
$4,373,313
$477,079 |
$7,076,588 |
| 27 |
$12,523,212 |
$4,593,919
$500,928 |
$7,428,365 |
| 28 |
$13,149,396 |
$4,825,607
$525,976 |
$7,797,813 |
| 29 |
$13,806,936 |
$5,068,897
$552,277 |
$8,185,762 |
| 30 |
$14,497,236 |
$5,324,308
$579,889 |
$8,593,039 |
|
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