West Virginia Lottery

WVLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Feb 22, 2025 is estimated to be $215 Million, with a cash option of 99.3 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 West Virginia, your state will take 6.5% 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.

West Virginia Powerball Jackpot/Cash Option for Sat Feb 22, 2025

Draw Date	Jackpot	Cash Option
Sat Feb 22, 2025	$215,000,000	$99,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$99,300,000
Federal Tax(24%)	$23,832,000
Additional Federal Tax	$12,869,330
State Tax(6.5%)	$6,454,500
Net Lumpsum Payment	$56,144,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,235,965	-$1,157,637 -$210,338	$1,867,990
2	$3,397,860	-$1,217,539 -$220,861	$1,959,460
3	$3,567,710	-$1,280,383 -$231,901	$2,055,426
4	$3,746,160	-$1,346,410 -$243,500	$2,156,250
5	$3,933,425	-$1,415,698 -$255,673	$2,262,054
6	$4,130,150	-$1,488,486 -$268,460	$2,373,204
7	$4,336,550	-$1,564,854 -$281,876	$2,489,820
8	$4,553,485	-$1,645,120 -$295,977	$2,612,388
9	$4,781,170	-$1,729,363 -$310,776	$2,741,031
10	$5,020,250	-$1,817,823 -$326,316	$2,876,111
11	$5,271,155	-$1,910,658 -$342,625	$3,017,872
12	$5,534,745	-$2,008,186 -$359,758	$3,166,801
13	$5,811,450	-$2,110,567 -$377,744	$3,323,139
14	$6,102,130	-$2,218,118 -$396,638	$3,487,374
15	$6,407,215	-$2,331,000 -$416,469	$3,659,746
16	$6,727,565	-$2,449,529 -$437,292	$3,840,744
17	$7,063,825	-$2,573,946 -$459,149	$4,030,730
18	$7,417,070	-$2,704,646 -$482,110	$4,230,314
19	$7,787,945	-$2,841,870 -$506,216	$4,439,859
20	$8,177,310	-$2,985,935 -$531,525	$4,659,850
21	$8,586,240	-$3,137,239 -$558,106	$4,890,895
22	$9,015,595	-$3,296,101 -$586,014	$5,133,480
23	$9,466,235	-$3,462,837 -$615,305	$5,388,093
24	$9,939,665	-$3,638,006 -$646,078	$5,655,581
25	$10,436,530	-$3,821,846 -$678,374	$5,936,310
26	$10,958,550	-$4,014,994 -$712,306	$6,231,250
27	$11,506,370	-$4,217,687 -$747,914	$6,540,769
28	$12,081,710	-$4,430,563 -$785,311	$6,865,836
29	$12,685,860	-$4,654,099 -$824,581	$7,207,180
30	$13,320,110	-$4,888,771 -$865,807	$7,565,532