Virginia Lottery

VALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Oct 26, 2026 is estimated to be $687 Million, with a cash option of 294.7 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 Mon Oct 26, 2026

Draw Date	Jackpot	Cash Option
Mon Oct 26, 2026	$687,000,000	$294,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$294,700,000
Federal Tax(24%)	$70,728,000
Additional Federal Tax	$38,271,330
State Tax(4%)	$11,788,000
Net Lumpsum Payment	$173,912,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,340,037	-$3,786,144 -$413,601	$6,140,292
2	$10,857,348	-$3,977,549 -$434,294	$6,445,505
3	$11,400,078	-$4,178,359 -$456,003	$6,765,716
4	$11,970,288	-$4,389,337 -$478,812	$7,102,139
5	$12,568,665	-$4,610,736 -$502,747	$7,455,182
6	$13,197,270	-$4,843,320 -$527,891	$7,826,059
7	$13,856,790	-$5,087,343 -$554,272	$8,215,175
8	$14,549,973	-$5,343,820 -$581,999	$8,624,154
9	$15,277,506	-$5,613,008 -$611,100	$9,053,398
10	$16,041,450	-$5,895,667 -$641,658	$9,504,125
11	$16,843,179	-$6,192,307 -$673,727	$9,977,145
12	$17,685,441	-$6,503,944 -$707,418	$10,474,079
13	$18,569,610	-$6,831,086 -$742,784	$10,995,740
14	$19,498,434	-$7,174,751 -$779,937	$11,543,746
15	$20,473,287	-$7,535,447 -$818,931	$12,118,909
16	$21,496,917	-$7,914,190 -$859,877	$12,722,850
17	$22,571,385	-$8,311,743 -$902,855	$13,356,787
18	$23,700,126	-$8,729,377 -$948,005	$14,022,744
19	$24,885,201	-$9,167,855 -$995,408	$14,721,938
20	$26,129,358	-$9,628,193 -$1,045,174	$15,455,991
21	$27,436,032	-$10,111,662 -$1,097,441	$16,226,929
22	$28,807,971	-$10,619,280 -$1,152,319	$17,036,372
23	$30,247,923	-$11,152,062 -$1,209,917	$17,885,944
24	$31,760,697	-$11,711,788 -$1,270,428	$18,778,481
25	$33,348,354	-$12,299,221 -$1,333,934	$19,715,199
26	$35,016,390	-$12,916,395 -$1,400,656	$20,699,339
27	$36,766,866	-$13,564,071 -$1,470,675	$21,732,120
28	$38,605,278	-$14,244,283 -$1,544,211	$22,816,784
29	$40,535,748	-$14,958,557 -$1,621,430	$23,955,761
30	$42,562,398	-$15,708,418 -$1,702,496	$25,151,484