The jackpot for the Powerball draw on Wed Aug 12, 2026, is projected to be $975 Million, with an option for a cash payout of $422.3 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 Aug 12, 2026 |
|---|
| Draw Date | Wed Aug 12, 2026 | | Projected Jackpot | $975,000,000 | | Cash Value | $422,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $422,300,000 | | Federal Tax(24%) | $101,352,000 | | Additional Federal Tax | $54,859,330 | | State Tax(6.5%) | $27,449,500 | | Net Lumpsum Payment | $238,639,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,674,725 |
$5,389,979
$953,857 |
$8,330,889 |
| 2 |
$15,408,900 |
$5,661,623
$1,001,579 |
$8,745,698 |
| 3 |
$16,179,150 |
$5,946,616
$1,051,645 |
$9,180,889 |
| 4 |
$16,988,400 |
$6,246,038
$1,104,246 |
$9,638,116 |
| 5 |
$17,837,625 |
$6,560,252
$1,159,446 |
$10,117,927 |
| 6 |
$18,729,750 |
$6,890,338
$1,217,434 |
$10,621,978 |
| 7 |
$19,665,750 |
$7,236,658
$1,278,274 |
$11,150,818 |
| 8 |
$20,649,525 |
$7,600,655
$1,342,219 |
$11,706,651 |
| 9 |
$21,682,050 |
$7,982,689
$1,409,333 |
$12,290,028 |
| 10 |
$22,766,250 |
$8,383,843
$1,479,806 |
$12,902,601 |
| 11 |
$23,904,075 |
$8,804,838
$1,553,765 |
$13,545,472 |
| 12 |
$25,099,425 |
$9,247,118
$1,631,463 |
$14,220,844 |
| 13 |
$26,354,250 |
$9,711,403
$1,713,026 |
$14,929,821 |
| 14 |
$27,672,450 |
$10,199,137
$1,798,709 |
$15,674,604 |
| 15 |
$29,055,975 |
$10,711,041
$1,888,638 |
$16,456,296 |
| 16 |
$30,508,725 |
$11,248,559
$1,983,067 |
$17,277,099 |
| 17 |
$32,033,625 |
$11,812,772
$2,082,186 |
$18,138,667 |
| 18 |
$33,635,550 |
$12,405,484
$2,186,311 |
$19,043,755 |
| 19 |
$35,317,425 |
$13,027,778
$2,295,633 |
$19,994,014 |
| 20 |
$37,083,150 |
$13,681,096
$2,410,405 |
$20,991,649 |
| 21 |
$38,937,600 |
$14,367,242
$2,530,944 |
$22,039,414 |
| 22 |
$40,884,675 |
$15,087,660
$2,657,504 |
$23,139,511 |
| 23 |
$42,928,275 |
$15,843,792
$2,790,338 |
$24,294,145 |
| 24 |
$45,075,225 |
$16,638,164
$2,929,890 |
$25,507,171 |
| 25 |
$47,328,450 |
$17,471,857
$3,076,349 |
$26,780,244 |
| 26 |
$49,695,750 |
$18,347,758
$3,230,224 |
$28,117,768 |
| 27 |
$52,180,050 |
$19,266,949
$3,391,703 |
$29,521,398 |
| 28 |
$54,789,150 |
$20,232,316
$3,561,295 |
$30,995,539 |
| 29 |
$57,528,900 |
$21,246,023
$3,739,379 |
$32,543,498 |
| 30 |
$60,405,150 |
$22,310,236
$3,926,335 |
$34,168,579 |
|
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