The jackpot for the Powerball draw on Wed May 14, 2025, is projected to be $106 Million, with an option for a cash payout of $48.2 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 May 14, 2025 |
|---|
| Draw Date | Wed May 14, 2025 | | Projected Jackpot | $106,000,000 | | Cash Value | $48,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $48,200,000 | | Federal Tax(24%) | $11,568,000 | | Additional Federal Tax | $6,226,330 | | State Tax(6.5%) | $3,133,000 | | Net Lumpsum Payment | $27,272,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,595,406 |
$550,631
$103,701 |
$941,074 |
| 2 |
$1,675,224 |
$580,163
$108,890 |
$986,171 |
| 3 |
$1,758,964 |
$611,147
$114,333 |
$1,033,484 |
| 4 |
$1,846,944 |
$643,700
$120,051 |
$1,083,193 |
| 5 |
$1,939,270 |
$677,860
$126,053 |
$1,135,357 |
| 6 |
$2,036,260 |
$713,747
$132,357 |
$1,190,156 |
| 7 |
$2,138,020 |
$751,398
$138,971 |
$1,247,651 |
| 8 |
$2,244,974 |
$790,971
$145,923 |
$1,308,080 |
| 9 |
$2,357,228 |
$832,505
$153,220 |
$1,371,503 |
| 10 |
$2,475,100 |
$876,117
$160,882 |
$1,438,101 |
| 11 |
$2,598,802 |
$921,887
$168,922 |
$1,507,993 |
| 12 |
$2,728,758 |
$969,971
$177,369 |
$1,581,418 |
| 13 |
$2,865,180 |
$1,020,447
$186,237 |
$1,658,496 |
| 14 |
$3,008,492 |
$1,073,472
$195,552 |
$1,739,468 |
| 15 |
$3,158,906 |
$1,129,126
$205,329 |
$1,824,451 |
| 16 |
$3,316,846 |
$1,187,563
$215,595 |
$1,913,688 |
| 17 |
$3,482,630 |
$1,248,903
$226,371 |
$2,007,356 |
| 18 |
$3,656,788 |
$1,313,342
$237,691 |
$2,105,755 |
| 19 |
$3,839,638 |
$1,380,996
$249,576 |
$2,209,066 |
| 20 |
$4,031,604 |
$1,452,024
$262,054 |
$2,317,526 |
| 21 |
$4,233,216 |
$1,526,620
$275,159 |
$2,431,437 |
| 22 |
$4,444,898 |
$1,604,943
$288,918 |
$2,551,037 |
| 23 |
$4,667,074 |
$1,687,148
$303,360 |
$2,676,566 |
| 24 |
$4,900,486 |
$1,773,510
$318,532 |
$2,808,444 |
| 25 |
$5,145,452 |
$1,864,148
$334,454 |
$2,946,850 |
| 26 |
$5,402,820 |
$1,959,374
$351,183 |
$3,092,263 |
| 27 |
$5,672,908 |
$2,059,306
$368,739 |
$3,244,863 |
| 28 |
$5,956,564 |
$2,164,259
$387,177 |
$3,405,128 |
| 29 |
$6,254,424 |
$2,274,467
$406,538 |
$3,573,419 |
| 30 |
$6,567,124 |
$2,390,166
$426,863 |
$3,750,095 |
|
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