The jackpot for the Powerball draw on Sat Aug 22, 2026, is projected to be $68 Million, with an option for a cash payout of $29.5 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 Sat Aug 22, 2026 |
|---|
| Draw Date | Sat Aug 22, 2026 | | Projected Jackpot | $68,000,000 | | Cash Value | $29,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,500,000 | | Federal Tax(24%) | $7,080,000 | | Additional Federal Tax | $3,795,330 | | State Tax(6.5%) | $1,917,500 | | Net Lumpsum Payment | $16,707,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,023,468 |
$339,014
$66,525 |
$617,929 |
| 2 |
$1,074,672 |
$357,959
$69,854 |
$646,859 |
| 3 |
$1,128,392 |
$377,835
$73,345 |
$677,212 |
| 4 |
$1,184,832 |
$398,718
$77,014 |
$709,100 |
| 5 |
$1,244,060 |
$420,633
$80,864 |
$742,563 |
| 6 |
$1,306,280 |
$443,654
$84,908 |
$777,718 |
| 7 |
$1,371,560 |
$467,808
$89,151 |
$814,601 |
| 8 |
$1,440,172 |
$493,194
$93,611 |
$853,367 |
| 9 |
$1,512,184 |
$519,838
$98,292 |
$894,054 |
| 10 |
$1,587,800 |
$547,816
$103,207 |
$936,777 |
| 11 |
$1,667,156 |
$577,178
$108,365 |
$981,613 |
| 12 |
$1,750,524 |
$608,024
$113,784 |
$1,028,716 |
| 13 |
$1,838,040 |
$640,405
$119,473 |
$1,078,162 |
| 14 |
$1,929,976 |
$674,422
$125,448 |
$1,130,106 |
| 15 |
$2,026,468 |
$710,124
$131,720 |
$1,184,624 |
| 16 |
$2,127,788 |
$747,612
$138,306 |
$1,241,870 |
| 17 |
$2,234,140 |
$786,962
$145,219 |
$1,301,959 |
| 18 |
$2,345,864 |
$828,300
$152,481 |
$1,365,083 |
| 19 |
$2,463,164 |
$871,701
$160,106 |
$1,431,357 |
| 20 |
$2,586,312 |
$917,266
$168,110 |
$1,500,936 |
| 21 |
$2,715,648 |
$965,120
$176,517 |
$1,574,011 |
| 22 |
$2,851,444 |
$1,015,365
$185,344 |
$1,650,735 |
| 23 |
$2,993,972 |
$1,068,100
$194,608 |
$1,731,264 |
| 24 |
$3,143,708 |
$1,123,502
$204,341 |
$1,815,865 |
| 25 |
$3,300,856 |
$1,181,647
$214,556 |
$1,904,653 |
| 26 |
$3,465,960 |
$1,242,736
$225,287 |
$1,997,937 |
| 27 |
$3,639,224 |
$1,306,843
$236,550 |
$2,095,831 |
| 28 |
$3,821,192 |
$1,374,171
$248,377 |
$2,198,644 |
| 29 |
$4,012,272 |
$1,444,871
$260,798 |
$2,306,603 |
| 30 |
$4,212,872 |
$1,519,093
$273,837 |
$2,419,942 |
|
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