The jackpot for the Powerball draw on Mon Jun 23, 2025, is projected to be $128 Million, with an option for a cash payout of $57.6 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 Mon Jun 23, 2025 |
|---|
| Draw Date | Mon Jun 23, 2025 | | Projected Jackpot | $128,000,000 | | Cash Value | $57,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,600,000 | | Federal Tax(24%) | $13,824,000 | | Additional Federal Tax | $7,448,330 | | State Tax(4%) | $2,304,000 | | Net Lumpsum Payment | $34,023,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$77,061 |
$1,176,321 |
| 2 |
$2,022,912 |
$708,808
$80,916 |
$1,233,188 |
| 3 |
$2,124,032 |
$746,222
$84,961 |
$1,292,849 |
| 4 |
$2,230,272 |
$785,531
$89,211 |
$1,355,530 |
| 5 |
$2,341,760 |
$826,782
$93,670 |
$1,421,308 |
| 6 |
$2,458,880 |
$870,116
$98,355 |
$1,490,409 |
| 7 |
$2,581,760 |
$915,582
$103,270 |
$1,562,908 |
| 8 |
$2,710,912 |
$963,368
$108,436 |
$1,639,108 |
| 9 |
$2,846,464 |
$1,013,522
$113,859 |
$1,719,083 |
| 10 |
$2,988,800 |
$1,066,186
$119,552 |
$1,803,062 |
| 11 |
$3,138,176 |
$1,121,456
$125,527 |
$1,891,193 |
| 12 |
$3,295,104 |
$1,179,519
$131,804 |
$1,983,781 |
| 13 |
$3,459,840 |
$1,240,471
$138,394 |
$2,080,975 |
| 14 |
$3,632,896 |
$1,304,502
$145,316 |
$2,183,078 |
| 15 |
$3,814,528 |
$1,371,706
$152,581 |
$2,290,241 |
| 16 |
$4,005,248 |
$1,442,272
$160,210 |
$2,402,766 |
| 17 |
$4,205,440 |
$1,516,343
$168,218 |
$2,520,879 |
| 18 |
$4,415,744 |
$1,594,156
$176,630 |
$2,644,958 |
| 19 |
$4,636,544 |
$1,675,852
$185,462 |
$2,775,230 |
| 20 |
$4,868,352 |
$1,761,621
$194,734 |
$2,911,997 |
| 21 |
$5,111,808 |
$1,851,699
$204,472 |
$3,055,637 |
| 22 |
$5,367,424 |
$1,946,277
$214,697 |
$3,206,450 |
| 23 |
$5,635,712 |
$2,045,544
$225,428 |
$3,364,740 |
| 24 |
$5,917,568 |
$2,149,831
$236,703 |
$3,531,034 |
| 25 |
$6,213,376 |
$2,259,280
$248,535 |
$3,705,561 |
| 26 |
$6,524,160 |
$2,374,270
$260,966 |
$3,888,924 |
| 27 |
$6,850,304 |
$2,494,943
$274,012 |
$4,081,349 |
| 28 |
$7,192,832 |
$2,621,678
$287,713 |
$4,283,441 |
| 29 |
$7,552,512 |
$2,754,760
$302,100 |
$4,495,652 |
| 30 |
$7,930,112 |
$2,894,472
$317,204 |
$4,718,436 |
|
|
