The jackpot for the Powerball draw on Sat Oct 24, 2026, is projected to be $674 Million, with an option for a cash payout of $283.9 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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West Virginia Powerball Jackpot/Cash Option for Sat Oct 24, 2026 |
|---|
| Draw Date | Sat Oct 24, 2026 | | Projected Jackpot | $674,000,000 | | Cash Value | $283,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $283,900,000 | | Federal Tax(24%) | $68,136,000 | | Additional Federal Tax | $36,867,330 | | State Tax(6.5%) | $18,453,500 | | Net Lumpsum Payment | $160,443,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,144,374 |
$3,713,749
$659,384 |
$5,771,241 |
| 2 |
$10,651,896 |
$3,901,532
$692,373 |
$6,057,991 |
| 3 |
$11,184,356 |
$4,098,542
$726,983 |
$6,358,831 |
| 4 |
$11,743,776 |
$4,305,528
$763,345 |
$6,674,903 |
| 5 |
$12,330,830 |
$4,522,737
$801,504 |
$7,006,589 |
| 6 |
$12,947,540 |
$4,750,920
$841,590 |
$7,355,030 |
| 7 |
$13,594,580 |
$4,990,325
$883,648 |
$7,720,607 |
| 8 |
$14,274,646 |
$5,241,949
$927,852 |
$8,104,845 |
| 9 |
$14,988,412 |
$5,506,043
$974,247 |
$8,508,122 |
| 10 |
$15,737,900 |
$5,783,353
$1,022,964 |
$8,931,583 |
| 11 |
$16,524,458 |
$6,074,380
$1,074,090 |
$9,375,988 |
| 12 |
$17,350,782 |
$6,380,120
$1,127,801 |
$9,842,861 |
| 13 |
$18,218,220 |
$6,701,072
$1,184,184 |
$10,332,964 |
| 14 |
$19,129,468 |
$7,038,234
$1,243,415 |
$10,847,819 |
| 15 |
$20,085,874 |
$7,392,104
$1,305,582 |
$11,388,188 |
| 16 |
$21,090,134 |
$7,763,680
$1,370,859 |
$11,955,595 |
| 17 |
$22,144,270 |
$8,153,710
$1,439,378 |
$12,551,182 |
| 18 |
$23,251,652 |
$8,563,442
$1,511,357 |
$13,176,853 |
| 19 |
$24,414,302 |
$8,993,622
$1,586,930 |
$13,833,750 |
| 20 |
$25,634,916 |
$9,445,249
$1,666,270 |
$14,523,397 |
| 21 |
$26,916,864 |
$9,919,570
$1,749,596 |
$15,247,698 |
| 22 |
$28,262,842 |
$10,417,582
$1,837,085 |
$16,008,175 |
| 23 |
$29,675,546 |
$10,940,282
$1,928,910 |
$16,806,354 |
| 24 |
$31,159,694 |
$11,489,417
$2,025,380 |
$17,644,897 |
| 25 |
$32,717,308 |
$12,065,734
$2,126,625 |
$18,524,949 |
| 26 |
$34,353,780 |
$12,671,229
$2,232,996 |
$19,449,555 |
| 27 |
$36,071,132 |
$13,306,649
$2,344,624 |
$20,419,859 |
| 28 |
$37,874,756 |
$13,973,990
$2,461,859 |
$21,438,907 |
| 29 |
$39,768,696 |
$14,674,748
$2,584,965 |
$22,508,983 |
| 30 |
$41,756,996 |
$15,410,419
$2,714,205 |
$23,632,372 |
|
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