West Virginia Lottery

WVLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 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 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 Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(6.5%)	$15,775,500
Net Lumpsum Payment	$137,165,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$503,832	$4,419,135
2	$8,139,060	-$2,971,783 -$529,039	$4,638,238
3	$8,545,910	-$3,122,317 -$555,484	$4,868,109
4	$8,973,360	-$3,280,474 -$583,268	$5,109,618
5	$9,421,925	-$3,446,443 -$612,425	$5,363,057
6	$9,893,150	-$3,620,796 -$643,055	$5,629,299
7	$10,387,550	-$3,803,724 -$675,191	$5,908,635
8	$10,907,185	-$3,995,989 -$708,967	$6,202,229
9	$11,452,570	-$4,197,781 -$744,417	$6,510,372
10	$12,025,250	-$4,409,673 -$781,641	$6,833,936
11	$12,626,255	-$4,632,045 -$820,707	$7,173,503
12	$13,257,645	-$4,865,659 -$861,747	$7,530,239
13	$13,920,450	-$5,110,897 -$904,829	$7,904,724
14	$14,616,730	-$5,368,520 -$950,087	$8,298,123
15	$15,347,515	-$5,638,911 -$997,588	$8,711,016
16	$16,114,865	-$5,922,830 -$1,047,466	$9,144,569
17	$16,920,325	-$6,220,851 -$1,099,821	$9,599,653
18	$17,766,470	-$6,533,924 -$1,154,821	$10,077,725
19	$18,654,845	-$6,862,623 -$1,212,565	$10,579,657
20	$19,587,510	-$7,207,709 -$1,273,188	$11,106,613
21	$20,567,040	-$7,570,135 -$1,336,858	$11,660,047
22	$21,595,495	-$7,950,664 -$1,403,707	$12,241,124
23	$22,674,935	-$8,350,056 -$1,473,871	$12,851,008
24	$23,808,965	-$8,769,647 -$1,547,583	$13,491,735
25	$24,999,130	-$9,210,008 -$1,624,943	$14,164,179
26	$26,249,550	-$9,672,664 -$1,706,221	$14,870,665
27	$27,561,770	-$10,158,185 -$1,791,515	$15,612,070
28	$28,939,910	-$10,668,097 -$1,881,094	$16,390,719
29	$30,387,060	-$11,203,543 -$1,975,159	$17,208,358
30	$31,906,310	-$11,765,665 -$2,073,910	$18,066,735