The jackpot for the Powerball draw on Wed Apr 1, 2026, is projected to be $194 Million, with an option for a cash payout of $87.1 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Virginia residents, the state will deduct 4% from your lottery earnings.
| Virginia Powerball Jackpot/Cash Option for Wed Apr 1, 2026 |
|---|
| Draw Date | Wed Apr 1, 2026 | | Projected Jackpot | $194,000,000 | | Cash Value | $87,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $87,100,000 | | Federal Tax(24%) | $20,904,000 | | Additional Federal Tax | $11,283,330 | | State Tax(4%) | $3,484,000 | | Net Lumpsum Payment | $51,428,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,919,894 |
$1,040,691
$116,796 |
$1,762,407 |
| 2 |
$3,065,976 |
$1,094,742
$122,639 |
$1,848,595 |
| 3 |
$3,219,236 |
$1,151,448
$128,769 |
$1,939,019 |
| 4 |
$3,380,256 |
$1,211,025
$135,210 |
$2,034,021 |
| 5 |
$3,549,230 |
$1,273,545
$141,969 |
$2,133,716 |
| 6 |
$3,726,740 |
$1,339,224
$149,070 |
$2,238,446 |
| 7 |
$3,912,980 |
$1,408,133
$156,519 |
$2,348,328 |
| 8 |
$4,108,726 |
$1,480,559
$164,349 |
$2,463,818 |
| 9 |
$4,314,172 |
$1,556,574
$172,567 |
$2,585,031 |
| 10 |
$4,529,900 |
$1,636,393
$181,196 |
$2,712,311 |
| 11 |
$4,756,298 |
$1,720,161
$190,252 |
$2,845,885 |
| 12 |
$4,994,142 |
$1,808,163
$199,766 |
$2,986,213 |
| 13 |
$5,243,820 |
$1,900,544
$209,753 |
$3,133,523 |
| 14 |
$5,506,108 |
$1,997,590
$220,244 |
$3,288,274 |
| 15 |
$5,781,394 |
$2,099,446
$231,256 |
$3,450,692 |
| 16 |
$6,070,454 |
$2,206,398
$242,818 |
$3,621,238 |
| 17 |
$6,373,870 |
$2,318,662
$254,955 |
$3,800,253 |
| 18 |
$6,692,612 |
$2,436,597
$267,704 |
$3,988,311 |
| 19 |
$7,027,262 |
$2,560,417
$281,090 |
$4,185,755 |
| 20 |
$7,378,596 |
$2,690,411
$295,144 |
$4,393,041 |
| 21 |
$7,747,584 |
$2,826,936
$309,903 |
$4,610,745 |
| 22 |
$8,135,002 |
$2,970,281
$325,400 |
$4,839,321 |
| 23 |
$8,541,626 |
$3,120,732
$341,665 |
$5,079,229 |
| 24 |
$8,968,814 |
$3,278,792
$358,753 |
$5,331,269 |
| 25 |
$9,417,148 |
$3,444,675
$376,686 |
$5,595,787 |
| 26 |
$9,888,180 |
$3,618,957
$395,527 |
$5,873,696 |
| 27 |
$10,382,492 |
$3,801,852
$415,300 |
$6,165,340 |
| 28 |
$10,901,636 |
$3,993,936
$436,065 |
$6,471,635 |
| 29 |
$11,446,776 |
$4,195,638
$457,871 |
$6,793,267 |
| 30 |
$12,019,076 |
$4,407,389
$480,763 |
$7,130,924 |
|
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