The jackpot for the Powerball draw on Mon Aug 10, 2026, is projected to be $905 Million, with an option for a cash payout of $391.9 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 Mon Aug 10, 2026 |
|---|
| Draw Date | Mon Aug 10, 2026 | | Projected Jackpot | $905,000,000 | | Cash Value | $391,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $391,900,000 | | Federal Tax(24%) | $94,056,000 | | Additional Federal Tax | $50,907,330 | | State Tax(6.5%) | $25,473,500 | | Net Lumpsum Payment | $221,463,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$13,621,155 |
$5,000,158
$885,375 |
$7,735,622 |
| 2 |
$14,302,620 |
$5,252,300
$929,670 |
$8,120,650 |
| 3 |
$15,017,570 |
$5,516,831
$976,142 |
$8,524,597 |
| 4 |
$15,768,720 |
$5,794,757
$1,024,967 |
$8,948,996 |
| 5 |
$16,556,975 |
$6,086,411
$1,076,203 |
$9,394,361 |
| 6 |
$17,385,050 |
$6,392,799
$1,130,028 |
$9,862,223 |
| 7 |
$18,253,850 |
$6,714,255
$1,186,500 |
$10,353,095 |
| 8 |
$19,166,995 |
$7,052,119
$1,245,855 |
$10,869,021 |
| 9 |
$20,125,390 |
$7,406,725
$1,308,150 |
$11,410,515 |
| 10 |
$21,131,750 |
$7,779,078
$1,373,564 |
$11,979,108 |
| 11 |
$22,187,885 |
$8,169,848
$1,442,213 |
$12,575,824 |
| 12 |
$23,297,415 |
$8,580,374
$1,514,332 |
$13,202,709 |
| 13 |
$24,462,150 |
$9,011,326
$1,590,040 |
$13,860,784 |
| 14 |
$25,685,710 |
$9,464,043
$1,669,571 |
$14,552,096 |
| 15 |
$26,969,905 |
$9,939,195
$1,753,044 |
$15,277,666 |
| 16 |
$28,318,355 |
$10,438,122
$1,840,693 |
$16,039,540 |
| 17 |
$29,733,775 |
$10,961,827
$1,932,695 |
$16,839,253 |
| 18 |
$31,220,690 |
$11,511,986
$2,029,345 |
$17,679,359 |
| 19 |
$32,781,815 |
$12,089,602
$2,130,818 |
$18,561,395 |
| 20 |
$34,420,770 |
$12,696,015
$2,237,350 |
$19,487,405 |
| 21 |
$36,142,080 |
$13,332,900
$2,349,235 |
$20,459,945 |
| 22 |
$37,949,365 |
$14,001,595
$2,466,709 |
$21,481,061 |
| 23 |
$39,846,245 |
$14,703,441
$2,590,006 |
$22,552,798 |
| 24 |
$41,839,055 |
$15,440,781
$2,719,539 |
$23,678,735 |
| 25 |
$43,930,510 |
$16,214,619
$2,855,483 |
$24,860,408 |
| 26 |
$46,127,850 |
$17,027,635
$2,998,310 |
$26,101,905 |
| 27 |
$48,433,790 |
$17,880,833
$3,148,196 |
$27,404,761 |
| 28 |
$50,855,570 |
$18,776,891
$3,305,612 |
$28,773,067 |
| 29 |
$53,398,620 |
$19,717,820
$3,470,910 |
$30,209,890 |
| 30 |
$56,068,370 |
$20,705,627
$3,644,444 |
$31,718,299 |
|
|
