The jackpot for the Powerball draw on Wed Jul 1, 2026, is projected to be $375 Million, with an option for a cash payout of $170.6 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 Wed Jul 1, 2026 |
|---|
| Draw Date | Wed Jul 1, 2026 | | Projected Jackpot | $375,000,000 | | Cash Value | $170,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $170,600,000 | | Federal Tax(24%) | $40,944,000 | | Additional Federal Tax | $22,138,330 | | State Tax(6.5%) | $11,089,000 | | Net Lumpsum Payment | $96,428,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,644,125 |
$2,048,657
$366,868 |
$3,228,600 |
| 2 |
$5,926,500 |
$2,153,135
$385,223 |
$3,388,142 |
| 3 |
$6,222,750 |
$2,262,748
$404,479 |
$3,555,523 |
| 4 |
$6,534,000 |
$2,377,910
$424,710 |
$3,731,380 |
| 5 |
$6,860,625 |
$2,498,762
$445,941 |
$3,915,922 |
| 6 |
$7,203,750 |
$2,625,718
$468,244 |
$4,109,788 |
| 7 |
$7,563,750 |
$2,758,918
$491,644 |
$4,313,188 |
| 8 |
$7,942,125 |
$2,898,917
$516,238 |
$4,526,970 |
| 9 |
$8,339,250 |
$3,045,853
$542,051 |
$4,751,346 |
| 10 |
$8,756,250 |
$3,200,143
$569,156 |
$4,986,951 |
| 11 |
$9,193,875 |
$3,362,064
$597,602 |
$5,234,209 |
| 12 |
$9,653,625 |
$3,532,172
$627,486 |
$5,493,967 |
| 13 |
$10,136,250 |
$3,710,743
$658,856 |
$5,766,651 |
| 14 |
$10,643,250 |
$3,898,333
$691,811 |
$6,053,106 |
| 15 |
$11,175,375 |
$4,095,219
$726,399 |
$6,353,757 |
| 16 |
$11,734,125 |
$4,301,957
$762,718 |
$6,669,450 |
| 17 |
$12,320,625 |
$4,518,962
$800,841 |
$7,000,822 |
| 18 |
$12,936,750 |
$4,746,928
$840,889 |
$7,348,933 |
| 19 |
$13,583,625 |
$4,986,272
$882,936 |
$7,714,417 |
| 20 |
$14,262,750 |
$5,237,548
$927,079 |
$8,098,123 |
| 21 |
$14,976,000 |
$5,501,450
$973,440 |
$8,501,110 |
| 22 |
$15,724,875 |
$5,778,534
$1,022,117 |
$8,924,224 |
| 23 |
$16,510,875 |
$6,069,354
$1,073,207 |
$9,368,314 |
| 24 |
$17,336,625 |
$6,374,882
$1,126,881 |
$9,834,862 |
| 25 |
$18,203,250 |
$6,695,533
$1,183,211 |
$10,324,506 |
| 26 |
$19,113,750 |
$7,032,418
$1,242,394 |
$10,838,938 |
| 27 |
$20,069,250 |
$7,385,953
$1,304,501 |
$11,378,796 |
| 28 |
$21,072,750 |
$7,757,248
$1,369,729 |
$11,945,773 |
| 29 |
$22,126,500 |
$8,147,135
$1,438,223 |
$12,541,142 |
| 30 |
$23,232,750 |
$8,556,448
$1,510,129 |
$13,166,173 |
|
|
