The jackpot for the Powerball draw on Sat May 3, 2025, is projected to be $44 Million, with an option for a cash payout of $20.3 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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West Virginia Powerball Jackpot/Cash Option for Sat May 3, 2025 |
|---|
| Draw Date | Sat May 3, 2025 | | Projected Jackpot | $44,000,000 | | Cash Value | $20,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,300,000 | | Federal Tax(24%) | $4,872,000 | | Additional Federal Tax | $2,599,330 | | State Tax(6.5%) | $1,319,500 | | Net Lumpsum Payment | $11,509,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$662,244 |
$205,361
$43,046 |
$413,837 |
| 2 |
$695,376 |
$217,620
$45,199 |
$432,557 |
| 3 |
$730,136 |
$230,481
$47,459 |
$452,196 |
| 4 |
$766,656 |
$243,993
$49,833 |
$472,830 |
| 5 |
$804,980 |
$258,173
$52,324 |
$494,483 |
| 6 |
$845,240 |
$273,069
$54,941 |
$517,230 |
| 7 |
$887,480 |
$288,698
$57,686 |
$541,096 |
| 8 |
$931,876 |
$305,125
$60,572 |
$566,179 |
| 9 |
$978,472 |
$322,365
$63,601 |
$592,506 |
| 10 |
$1,027,400 |
$340,468
$66,781 |
$620,151 |
| 11 |
$1,078,748 |
$359,467
$70,119 |
$649,162 |
| 12 |
$1,132,692 |
$379,426
$73,625 |
$679,641 |
| 13 |
$1,189,320 |
$400,379
$77,306 |
$711,635 |
| 14 |
$1,248,808 |
$422,389
$81,173 |
$745,246 |
| 15 |
$1,311,244 |
$445,491
$85,231 |
$780,522 |
| 16 |
$1,376,804 |
$469,748
$89,492 |
$817,564 |
| 17 |
$1,445,620 |
$495,210
$93,965 |
$856,445 |
| 18 |
$1,517,912 |
$521,958
$98,664 |
$897,290 |
| 19 |
$1,593,812 |
$550,041
$103,598 |
$940,173 |
| 20 |
$1,673,496 |
$579,524
$108,777 |
$985,195 |
| 21 |
$1,757,184 |
$610,488
$114,217 |
$1,032,479 |
| 22 |
$1,845,052 |
$643,000
$119,928 |
$1,082,124 |
| 23 |
$1,937,276 |
$677,123
$125,923 |
$1,134,230 |
| 24 |
$2,034,164 |
$712,971
$132,221 |
$1,188,972 |
| 25 |
$2,135,848 |
$750,594
$138,830 |
$1,246,424 |
| 26 |
$2,242,680 |
$790,122
$145,774 |
$1,306,784 |
| 27 |
$2,354,792 |
$831,603
$153,061 |
$1,370,128 |
| 28 |
$2,472,536 |
$875,169
$160,715 |
$1,436,652 |
| 29 |
$2,596,176 |
$920,916
$168,751 |
$1,506,509 |
| 30 |
$2,725,976 |
$968,942
$177,188 |
$1,579,846 |
|
|
