The jackpot for the Powerball draw on Wed Nov 4, 2026, is projected to be $835 Million, with an option for a cash payout of $357.9 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 Wed Nov 4, 2026 |
|---|
| Draw Date | Wed Nov 4, 2026 | | Projected Jackpot | $835,000,000 | | Cash Value | $357,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $357,900,000 | | Federal Tax(24%) | $85,896,000 | | Additional Federal Tax | $46,487,330 | | State Tax(4%) | $14,316,000 | | Net Lumpsum Payment | $211,200,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$12,567,585 |
$4,610,337
$502,703 |
$7,454,545 |
| 2 |
$13,196,340 |
$4,842,976
$527,854 |
$7,825,510 |
| 3 |
$13,855,990 |
$5,087,047
$554,240 |
$8,214,703 |
| 4 |
$14,549,040 |
$5,343,475
$581,962 |
$8,623,603 |
| 5 |
$15,276,325 |
$5,612,571
$611,053 |
$9,052,701 |
| 6 |
$16,040,350 |
$5,895,260
$641,614 |
$9,503,476 |
| 7 |
$16,841,950 |
$6,191,852
$673,678 |
$9,976,420 |
| 8 |
$17,684,465 |
$6,503,582
$707,379 |
$10,473,504 |
| 9 |
$18,568,730 |
$6,830,760
$742,749 |
$10,995,221 |
| 10 |
$19,497,250 |
$7,174,313
$779,890 |
$11,543,047 |
| 11 |
$20,471,695 |
$7,534,858
$818,868 |
$12,117,969 |
| 12 |
$21,495,405 |
$7,913,630
$859,816 |
$12,721,959 |
| 13 |
$22,570,050 |
$8,311,249
$902,802 |
$13,355,999 |
| 14 |
$23,698,970 |
$8,728,949
$947,959 |
$14,022,062 |
| 15 |
$24,883,835 |
$9,167,349
$995,353 |
$14,721,133 |
| 16 |
$26,127,985 |
$9,627,685
$1,045,119 |
$15,455,181 |
| 17 |
$27,433,925 |
$10,110,883
$1,097,357 |
$16,225,685 |
| 18 |
$28,805,830 |
$10,618,487
$1,152,233 |
$17,035,110 |
| 19 |
$30,246,205 |
$11,151,426
$1,209,848 |
$17,884,931 |
| 20 |
$31,758,390 |
$11,710,935
$1,270,336 |
$18,777,119 |
| 21 |
$33,346,560 |
$12,298,558
$1,333,862 |
$19,714,140 |
| 22 |
$35,014,055 |
$12,915,531
$1,400,562 |
$20,697,962 |
| 23 |
$36,764,215 |
$13,563,090
$1,470,569 |
$21,730,556 |
| 24 |
$38,602,885 |
$14,243,398
$1,544,115 |
$22,815,372 |
| 25 |
$40,532,570 |
$14,957,381
$1,621,303 |
$23,953,886 |
| 26 |
$42,559,950 |
$15,707,512
$1,702,398 |
$25,150,040 |
| 27 |
$44,687,530 |
$16,494,716
$1,787,501 |
$26,405,313 |
| 28 |
$46,921,990 |
$17,321,467
$1,876,880 |
$27,723,643 |
| 29 |
$49,268,340 |
$18,189,616
$1,970,734 |
$29,107,990 |
| 30 |
$51,731,590 |
$19,101,019
$2,069,264 |
$30,561,307 |
|
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