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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West 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(6.5%) | $3,744,000 | | Net Lumpsum Payment | $32,583,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$125,224 |
$1,128,158 |
| 2 |
$2,022,912 |
$708,808
$131,489 |
$1,182,615 |
| 3 |
$2,124,032 |
$746,222
$138,062 |
$1,239,748 |
| 4 |
$2,230,272 |
$785,531
$144,968 |
$1,299,773 |
| 5 |
$2,341,760 |
$826,782
$152,214 |
$1,362,764 |
| 6 |
$2,458,880 |
$870,116
$159,827 |
$1,428,937 |
| 7 |
$2,581,760 |
$915,582
$167,814 |
$1,498,364 |
| 8 |
$2,710,912 |
$963,368
$176,209 |
$1,571,335 |
| 9 |
$2,846,464 |
$1,013,522
$185,020 |
$1,647,922 |
| 10 |
$2,988,800 |
$1,066,186
$194,272 |
$1,728,342 |
| 11 |
$3,138,176 |
$1,121,456
$203,981 |
$1,812,739 |
| 12 |
$3,295,104 |
$1,179,519
$214,182 |
$1,901,403 |
| 13 |
$3,459,840 |
$1,240,471
$224,890 |
$1,994,479 |
| 14 |
$3,632,896 |
$1,304,502
$236,138 |
$2,092,256 |
| 15 |
$3,814,528 |
$1,371,706
$247,944 |
$2,194,878 |
| 16 |
$4,005,248 |
$1,442,272
$260,341 |
$2,302,635 |
| 17 |
$4,205,440 |
$1,516,343
$273,354 |
$2,415,743 |
| 18 |
$4,415,744 |
$1,594,156
$287,023 |
$2,534,565 |
| 19 |
$4,636,544 |
$1,675,852
$301,375 |
$2,659,317 |
| 20 |
$4,868,352 |
$1,761,621
$316,443 |
$2,790,288 |
| 21 |
$5,111,808 |
$1,851,699
$332,268 |
$2,927,841 |
| 22 |
$5,367,424 |
$1,946,277
$348,883 |
$3,072,264 |
| 23 |
$5,635,712 |
$2,045,544
$366,321 |
$3,223,847 |
| 24 |
$5,917,568 |
$2,149,831
$384,642 |
$3,383,095 |
| 25 |
$6,213,376 |
$2,259,280
$403,869 |
$3,550,227 |
| 26 |
$6,524,160 |
$2,374,270
$424,070 |
$3,725,820 |
| 27 |
$6,850,304 |
$2,494,943
$445,270 |
$3,910,091 |
| 28 |
$7,192,832 |
$2,621,678
$467,534 |
$4,103,620 |
| 29 |
$7,552,512 |
$2,754,760
$490,913 |
$4,306,839 |
| 30 |
$7,930,112 |
$2,894,472
$515,457 |
$4,520,183 |
|
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