The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 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 Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(4%) | $3,188,000 | | Net Lumpsum Payment | $47,062,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$104,755 |
$1,584,805 |
| 2 |
$2,749,896 |
$977,792
$109,996 |
$1,662,108 |
| 3 |
$2,887,356 |
$1,028,652
$115,494 |
$1,743,210 |
| 4 |
$3,031,776 |
$1,082,088
$121,271 |
$1,828,417 |
| 5 |
$3,183,330 |
$1,138,162
$127,333 |
$1,917,835 |
| 6 |
$3,342,540 |
$1,197,070
$133,702 |
$2,011,768 |
| 7 |
$3,509,580 |
$1,258,875
$140,383 |
$2,110,322 |
| 8 |
$3,685,146 |
$1,323,834
$147,406 |
$2,213,906 |
| 9 |
$3,869,412 |
$1,392,013
$154,776 |
$2,322,623 |
| 10 |
$4,062,900 |
$1,463,603
$162,516 |
$2,436,781 |
| 11 |
$4,265,958 |
$1,538,735
$170,638 |
$2,556,585 |
| 12 |
$4,479,282 |
$1,617,665
$179,171 |
$2,682,446 |
| 13 |
$4,703,220 |
$1,700,522
$188,129 |
$2,814,569 |
| 14 |
$4,938,468 |
$1,787,564
$197,539 |
$2,953,365 |
| 15 |
$5,185,374 |
$1,878,919
$207,415 |
$3,099,040 |
| 16 |
$5,444,634 |
$1,974,845
$217,785 |
$3,252,004 |
| 17 |
$5,716,770 |
$2,075,535
$228,671 |
$3,412,564 |
| 18 |
$6,002,652 |
$2,181,312
$240,106 |
$3,581,234 |
| 19 |
$6,302,802 |
$2,292,367
$252,112 |
$3,758,323 |
| 20 |
$6,617,916 |
$2,408,959
$264,717 |
$3,944,240 |
| 21 |
$6,948,864 |
$2,531,410
$277,955 |
$4,139,499 |
| 22 |
$7,296,342 |
$2,659,977
$291,854 |
$4,344,511 |
| 23 |
$7,661,046 |
$2,794,917
$306,442 |
$4,559,687 |
| 24 |
$8,044,194 |
$2,936,682
$321,768 |
$4,785,744 |
| 25 |
$8,446,308 |
$3,085,464
$337,852 |
$5,022,992 |
| 26 |
$8,868,780 |
$3,241,779
$354,751 |
$5,272,250 |
| 27 |
$9,312,132 |
$3,405,819
$372,485 |
$5,533,828 |
| 28 |
$9,777,756 |
$3,578,100
$391,110 |
$5,808,546 |
| 29 |
$10,266,696 |
$3,759,008
$410,668 |
$6,097,020 |
| 30 |
$10,779,996 |
$3,948,929
$431,200 |
$6,399,867 |
|
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