The jackpot for the Powerball draw on Wed Jul 8, 2026, is projected to be $434 Million, with an option for a cash payout of $194.7 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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West Virginia Powerball Jackpot/Cash Option for Wed Jul 8, 2026 |
|---|
| Draw Date | Wed Jul 8, 2026 | | Projected Jackpot | $434,000,000 | | Cash Value | $194,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $194,700,000 | | Federal Tax(24%) | $46,728,000 | | Additional Federal Tax | $25,271,330 | | State Tax(6.5%) | $12,655,500 | | Net Lumpsum Payment | $110,045,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,532,134 |
$2,377,220
$424,589 |
$3,730,325 |
| 2 |
$6,858,936 |
$2,498,137
$445,831 |
$3,914,968 |
| 3 |
$7,201,796 |
$2,624,995
$468,117 |
$4,108,684 |
| 4 |
$7,562,016 |
$2,758,276
$491,531 |
$4,312,209 |
| 5 |
$7,940,030 |
$2,898,141
$516,102 |
$4,525,787 |
| 6 |
$8,337,140 |
$3,045,072
$541,914 |
$4,750,154 |
| 7 |
$8,753,780 |
$3,199,229
$568,996 |
$4,985,555 |
| 8 |
$9,191,686 |
$3,361,254
$597,460 |
$5,232,972 |
| 9 |
$9,651,292 |
$3,531,308
$627,334 |
$5,492,650 |
| 10 |
$10,133,900 |
$3,709,873
$658,704 |
$5,765,323 |
| 11 |
$10,640,378 |
$3,897,270
$691,625 |
$6,051,483 |
| 12 |
$11,172,462 |
$4,094,141
$726,210 |
$6,352,111 |
| 13 |
$11,731,020 |
$4,300,808
$762,516 |
$6,667,696 |
| 14 |
$12,317,788 |
$4,517,912
$800,656 |
$6,999,220 |
| 15 |
$12,933,634 |
$4,745,775
$840,686 |
$7,347,173 |
| 16 |
$13,580,294 |
$4,985,039
$882,719 |
$7,712,536 |
| 17 |
$14,259,070 |
$5,236,186
$926,840 |
$8,096,044 |
| 18 |
$14,972,132 |
$5,500,019
$973,189 |
$8,498,924 |
| 19 |
$15,720,782 |
$5,777,020
$1,021,851 |
$8,921,911 |
| 20 |
$16,506,756 |
$6,067,830
$1,072,939 |
$9,365,987 |
| 21 |
$17,332,224 |
$6,373,253
$1,126,595 |
$9,832,376 |
| 22 |
$18,198,922 |
$6,693,932
$1,182,930 |
$10,322,060 |
| 23 |
$19,108,586 |
$7,030,507
$1,242,058 |
$10,836,021 |
| 24 |
$20,064,254 |
$7,384,104
$1,304,177 |
$11,375,973 |
| 25 |
$21,067,228 |
$7,755,205
$1,369,370 |
$11,942,653 |
| 26 |
$22,120,980 |
$8,145,093
$1,437,864 |
$12,538,023 |
| 27 |
$23,226,812 |
$8,554,251
$1,509,743 |
$13,162,818 |
| 28 |
$24,388,196 |
$8,983,963
$1,585,233 |
$13,819,000 |
| 29 |
$25,607,736 |
$9,435,193
$1,664,503 |
$14,508,040 |
| 30 |
$26,888,036 |
$9,908,904
$1,747,722 |
$15,231,410 |
|
|
