The jackpot for the Powerball draw on Sat Aug 2, 2025, is projected to be $410 Million, with an option for a cash payout of $184.9 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 Sat Aug 2, 2025 |
|---|
| Draw Date | Sat Aug 2, 2025 | | Projected Jackpot | $410,000,000 | | Cash Value | $184,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $184,900,000 | | Federal Tax(24%) | $44,376,000 | | Additional Federal Tax | $23,997,330 | | State Tax(4%) | $7,396,000 | | Net Lumpsum Payment | $109,130,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,170,910 |
$2,243,567
$246,836 |
$3,680,507 |
| 2 |
$6,479,640 |
$2,357,797
$259,186 |
$3,862,657 |
| 3 |
$6,803,540 |
$2,477,640
$272,142 |
$4,053,758 |
| 4 |
$7,143,840 |
$2,603,551
$285,754 |
$4,254,535 |
| 5 |
$7,500,950 |
$2,735,682
$300,038 |
$4,465,230 |
| 6 |
$7,876,100 |
$2,874,487
$315,044 |
$4,686,569 |
| 7 |
$8,269,700 |
$3,020,119
$330,788 |
$4,918,793 |
| 8 |
$8,683,390 |
$3,173,185
$347,336 |
$5,162,869 |
| 9 |
$9,117,580 |
$3,333,835
$364,703 |
$5,419,042 |
| 10 |
$9,573,500 |
$3,502,525
$382,940 |
$5,688,035 |
| 11 |
$10,051,970 |
$3,679,559
$402,079 |
$5,970,332 |
| 12 |
$10,554,630 |
$3,865,543
$422,185 |
$6,266,902 |
| 13 |
$11,082,300 |
$4,060,781
$443,292 |
$6,578,227 |
| 14 |
$11,636,620 |
$4,265,880
$465,465 |
$6,905,275 |
| 15 |
$12,218,410 |
$4,481,142
$488,736 |
$7,248,532 |
| 16 |
$12,829,310 |
$4,707,175
$513,172 |
$7,608,963 |
| 17 |
$13,470,550 |
$4,944,434
$538,822 |
$7,987,294 |
| 18 |
$14,144,180 |
$5,193,677
$565,767 |
$8,384,736 |
| 19 |
$14,851,430 |
$5,455,359
$594,057 |
$8,802,014 |
| 20 |
$15,593,940 |
$5,730,088
$623,758 |
$9,240,094 |
| 21 |
$16,373,760 |
$6,018,622
$654,950 |
$9,700,188 |
| 22 |
$17,192,530 |
$6,321,566
$687,701 |
$10,183,263 |
| 23 |
$18,051,890 |
$6,639,530
$722,076 |
$10,690,284 |
| 24 |
$18,954,710 |
$6,973,573
$758,188 |
$11,222,949 |
| 25 |
$19,902,220 |
$7,324,152
$796,089 |
$11,781,979 |
| 26 |
$20,897,700 |
$7,692,479
$835,908 |
$12,369,313 |
| 27 |
$21,942,380 |
$8,079,011
$877,695 |
$12,985,674 |
| 28 |
$23,039,540 |
$8,484,960
$921,582 |
$13,632,998 |
| 29 |
$24,191,640 |
$8,911,237
$967,666 |
$14,312,737 |
| 30 |
$25,401,140 |
$9,358,752
$1,016,046 |
$15,026,342 |
|
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