Virginia Lottery

VALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 10, 2025 is estimated to be $82 Million, with a cash option of 37.7 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 Sat May 10, 2025

Draw Date	Jackpot	Cash Option
Sat May 10, 2025	$82,000,000	$37,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$37,700,000
Federal Tax(24%)	$9,048,000
Additional Federal Tax	$4,861,330
State Tax(4%)	$1,508,000
Net Lumpsum Payment	$22,282,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,234,182	-$416,978 -$49,367	$767,837
2	$1,295,928	-$439,824 -$51,837	$804,267
3	$1,360,708	-$463,792 -$54,428	$842,488
4	$1,428,768	-$488,975 -$57,151	$882,642
5	$1,500,190	-$515,401 -$60,008	$924,781
6	$1,575,220	-$543,162 -$63,009	$969,049
7	$1,653,940	-$572,288 -$66,158	$1,015,494
8	$1,736,678	-$602,901 -$69,467	$1,064,310
9	$1,823,516	-$635,031 -$72,941	$1,115,544
10	$1,914,700	-$668,769 -$76,588	$1,169,343
11	$2,010,394	-$704,176 -$80,416	$1,225,802
12	$2,110,926	-$741,373 -$84,437	$1,285,116
13	$2,216,460	-$780,421 -$88,658	$1,347,381
14	$2,327,324	-$821,440 -$93,093	$1,412,791
15	$2,443,682	-$864,493 -$97,747	$1,481,442
16	$2,565,862	-$909,699 -$102,634	$1,553,529
17	$2,694,110	-$957,151 -$107,764	$1,629,195
18	$2,828,836	-$1,007,000 -$113,153	$1,708,683
19	$2,970,286	-$1,059,336 -$118,811	$1,792,139
20	$3,118,788	-$1,114,282 -$124,752	$1,879,754
21	$3,274,752	-$1,171,989 -$130,990	$1,971,773
22	$3,438,506	-$1,232,578 -$137,540	$2,068,388
23	$3,610,378	-$1,296,170 -$144,415	$2,169,793
24	$3,790,942	-$1,362,979 -$151,638	$2,276,325
25	$3,980,444	-$1,433,095 -$159,218	$2,388,131
26	$4,179,540	-$1,506,760 -$167,182	$2,505,598
27	$4,388,476	-$1,584,067 -$175,539	$2,628,870
28	$4,607,908	-$1,665,256 -$184,316	$2,758,336
29	$4,838,328	-$1,750,512 -$193,533	$2,894,283
30	$5,080,228	-$1,840,015 -$203,209	$3,037,004