Virginia Lottery

VALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jul 16, 2025 is estimated to be $264 Million, with a cash option of 119.7 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 Wed Jul 16, 2025

Draw Date	Jackpot	Cash Option
Wed Jul 16, 2025	$264,000,000	$119,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$119,700,000
Federal Tax(24%)	$28,728,000
Additional Federal Tax	$15,521,330
State Tax(4%)	$4,788,000
Net Lumpsum Payment	$70,662,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,973,464	-$1,430,512 -$158,939	$2,384,013
2	$4,172,256	-$1,504,065 -$166,890	$2,501,301
3	$4,380,816	-$1,581,232 -$175,233	$2,624,351
4	$4,599,936	-$1,662,307 -$183,997	$2,753,632
5	$4,829,880	-$1,747,386 -$193,195	$2,889,299
6	$5,071,440	-$1,836,763 -$202,858	$3,031,819
7	$5,324,880	-$1,930,536 -$212,995	$3,181,349
8	$5,591,256	-$2,029,095 -$223,650	$3,338,511
9	$5,870,832	-$2,132,538 -$234,833	$3,503,461
10	$6,164,400	-$2,241,158 -$246,576	$3,676,666
11	$6,472,488	-$2,355,151 -$258,900	$3,858,437
12	$6,796,152	-$2,474,907 -$271,846	$4,049,399
13	$7,135,920	-$2,600,621 -$285,437	$4,249,862
14	$7,492,848	-$2,732,684 -$299,714	$4,460,450
15	$7,867,464	-$2,871,292 -$314,699	$4,681,473
16	$8,260,824	-$3,016,835 -$330,433	$4,913,556
17	$8,673,720	-$3,169,607 -$346,949	$5,157,164
18	$9,107,472	-$3,330,095 -$364,299	$5,413,078
19	$9,562,872	-$3,498,593 -$382,515	$5,681,764
20	$10,040,976	-$3,675,492 -$401,639	$5,963,845
21	$10,543,104	-$3,861,279 -$421,724	$6,260,101
22	$11,070,312	-$4,056,346 -$442,812	$6,571,154
23	$11,623,656	-$4,261,083 -$464,946	$6,897,627
24	$12,204,984	-$4,476,174 -$488,199	$7,240,611
25	$12,815,088	-$4,701,913 -$512,604	$7,600,571
26	$13,456,080	-$4,939,080 -$538,243	$7,978,757
27	$14,128,752	-$5,187,969 -$565,150	$8,375,633
28	$14,835,216	-$5,449,360 -$593,409	$8,792,447
29	$15,577,056	-$5,723,841 -$623,082	$9,230,133
30	$16,355,856	-$6,011,997 -$654,234	$9,689,625