Virginia Lottery

VALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jan 3, 2026 is estimated to be $64 Million, with a cash option of 29.5 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Virginia, your state will take 4% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Virginia Powerball Jackpot/Cash Option for Sat Jan 3, 2026

Draw Date	Jackpot	Cash Option
Sat Jan 3, 2026	$64,000,000	$29,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$29,500,000
Federal Tax(24%)	$7,080,000
Additional Federal Tax	$3,795,330
State Tax(4%)	$1,180,000
Net Lumpsum Payment	$17,444,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$963,264	-$316,738 -$38,531	$607,995
2	$1,011,456	-$334,569 -$40,458	$636,429
3	$1,062,016	-$353,276 -$42,481	$666,259
4	$1,115,136	-$372,931 -$44,605	$697,600
5	$1,170,880	-$393,556 -$46,835	$730,489
6	$1,229,440	-$415,223 -$49,178	$765,039
7	$1,290,880	-$437,956 -$51,635	$801,289
8	$1,355,456	-$461,849 -$54,218	$839,389
9	$1,423,232	-$486,926 -$56,929	$879,377
10	$1,494,400	-$513,258 -$59,776	$921,366
11	$1,569,088	-$540,893 -$62,764	$965,431
12	$1,647,552	-$569,925 -$65,902	$1,011,725
13	$1,729,920	-$600,401 -$69,197	$1,060,322
14	$1,816,448	-$632,416 -$72,658	$1,111,374
15	$1,907,264	-$666,018 -$76,291	$1,164,955
16	$2,002,624	-$701,301 -$80,105	$1,221,218
17	$2,102,720	-$738,337 -$84,109	$1,280,274
18	$2,207,872	-$777,243 -$88,315	$1,342,314
19	$2,318,272	-$818,091 -$92,731	$1,407,450
20	$2,434,176	-$860,976 -$97,367	$1,475,833
21	$2,555,904	-$906,015 -$102,236	$1,547,653
22	$2,683,712	-$953,304 -$107,348	$1,623,060
23	$2,817,856	-$1,002,937 -$112,714	$1,702,205
24	$2,958,784	-$1,055,080 -$118,351	$1,785,353
25	$3,106,688	-$1,109,805 -$124,268	$1,872,615
26	$3,262,080	-$1,167,300 -$130,483	$1,964,297
27	$3,425,152	-$1,227,637 -$137,006	$2,060,509
28	$3,596,416	-$1,291,004 -$143,857	$2,161,555
29	$3,776,256	-$1,357,545 -$151,050	$2,267,661
30	$3,965,056	-$1,427,401 -$158,602	$2,379,053