West Virginia Lottery

WVLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jan 11, 2025 is estimated to be $263 Million, with a cash option of 117.7 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of West Virginia, your state will take 6.5% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

West Virginia Powerball Jackpot/Cash Option for Sat Jan 11, 2025

Draw Date	Jackpot	Cash Option
Sat Jan 11, 2025	$263,000,000	$117,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$117,700,000
Federal Tax(24%)	$28,248,000
Additional Federal Tax	$15,261,330
State Tax(6.5%)	$7,650,500
Net Lumpsum Payment	$66,540,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$257,297	$2,276,173
2	$4,156,452	-$1,498,218 -$270,169	$2,388,065
3	$4,364,222	-$1,575,093 -$283,674	$2,505,455
4	$4,582,512	-$1,655,860 -$297,863	$2,628,789
5	$4,811,585	-$1,740,617 -$312,753	$2,758,215
6	$5,052,230	-$1,829,655 -$328,395	$2,894,180
7	$5,304,710	-$1,923,073 -$344,806	$3,036,831
8	$5,570,077	-$2,021,259 -$362,055	$3,186,763
9	$5,848,594	-$2,124,310 -$380,159	$3,344,125
10	$6,141,050	-$2,232,519 -$399,168	$3,509,363
11	$6,447,971	-$2,346,080 -$419,118	$3,682,773
12	$6,770,409	-$2,465,382 -$440,077	$3,864,950
13	$7,108,890	-$2,590,620 -$462,078	$4,056,192
14	$7,464,466	-$2,722,183 -$485,190	$4,257,093
15	$7,837,663	-$2,860,266 -$509,448	$4,467,949
16	$8,229,533	-$3,005,258 -$534,920	$4,689,355
17	$8,640,865	-$3,157,450 -$561,656	$4,921,759
18	$9,072,974	-$3,317,331 -$589,743	$5,165,900
19	$9,526,649	-$3,485,191 -$619,232	$5,422,226
20	$10,002,942	-$3,661,419 -$650,191	$5,691,332
21	$10,503,168	-$3,846,503 -$682,706	$5,973,959
22	$11,028,379	-$4,040,831 -$716,845	$6,270,703
23	$11,579,627	-$4,244,792 -$752,676	$6,582,159
24	$12,158,753	-$4,459,069 -$790,319	$6,909,365
25	$12,766,546	-$4,683,952 -$829,825	$7,252,769
26	$13,405,110	-$4,920,221 -$871,332	$7,613,557
27	$14,075,234	-$5,168,167 -$914,890	$7,992,177
28	$14,779,022	-$5,428,569 -$960,636	$8,389,817
29	$15,518,052	-$5,702,010 -$1,008,673	$8,807,369
30	$16,293,902	-$5,989,074 -$1,059,104	$9,245,724