Virginia Lottery

VALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Aug 30, 2025 is estimated to be $950 Million, with a cash option of 428.9 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 Aug 30, 2025

Draw Date	Jackpot	Cash Option
Sat Aug 30, 2025	$950,000,000	$428,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$428,900,000
Federal Tax(24%)	$102,936,000
Additional Federal Tax	$55,717,330
State Tax(4%)	$17,156,000
Net Lumpsum Payment	$253,090,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$14,298,450	-$5,250,757 -$571,938	$8,475,755
2	$15,013,800	-$5,515,436 -$600,552	$8,897,812
3	$15,764,300	-$5,793,121 -$630,572	$9,340,607
4	$16,552,800	-$6,084,866 -$662,112	$9,805,822
5	$17,380,250	-$6,391,023 -$695,210	$10,294,017
6	$18,249,500	-$6,712,645 -$729,980	$10,806,875
7	$19,161,500	-$7,050,085 -$766,460	$11,344,955
8	$20,120,050	-$7,404,749 -$804,802	$11,910,499
9	$21,126,100	-$7,776,987 -$845,044	$12,504,069
10	$22,182,500	-$8,167,855 -$887,300	$13,127,345
11	$23,291,150	-$8,578,056 -$931,646	$13,781,448
12	$24,455,850	-$9,008,995 -$978,234	$14,468,621
13	$25,678,500	-$9,461,375 -$1,027,140	$15,189,985
14	$26,962,900	-$9,936,603 -$1,078,516	$15,947,781
15	$28,310,950	-$10,435,382 -$1,132,438	$16,743,130
16	$29,726,450	-$10,959,117 -$1,189,058	$17,578,275
17	$31,212,250	-$11,508,863 -$1,248,490	$18,454,897
18	$32,773,100	-$12,086,377 -$1,310,924	$19,375,799
19	$34,411,850	-$12,692,715 -$1,376,474	$20,342,661
20	$36,132,300	-$13,329,281 -$1,445,292	$21,357,727
21	$37,939,200	-$13,997,834 -$1,517,568	$22,423,798
22	$39,836,350	-$14,699,780 -$1,593,454	$23,543,116
23	$41,827,550	-$15,436,524 -$1,673,102	$24,717,924
24	$43,919,450	-$16,210,527 -$1,756,778	$25,952,145
25	$46,114,900	-$17,022,843 -$1,844,596	$27,247,461
26	$48,421,500	-$17,876,285 -$1,936,860	$28,608,355
27	$50,842,100	-$18,771,907 -$2,033,684	$30,036,509
28	$53,384,300	-$19,712,521 -$2,135,372	$31,536,407
29	$56,053,800	-$20,700,236 -$2,242,152	$33,111,412
30	$58,856,300	-$21,737,161 -$2,354,252	$34,764,887