The jackpot for the Powerball draw on Sat May 10, 2025, is projected to be $82 Million, with an option for a cash payout of $37.7 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 Sat May 10, 2025 |
|---|
| Draw Date | Sat May 10, 2025 | | Projected Jackpot | $82,000,000 | | Cash Value | $37,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $37,700,000 | | Federal Tax(24%) | $9,048,000 | | Additional Federal Tax | $4,861,330 | | State Tax(4%) | $1,508,000 | | Net Lumpsum Payment | $22,282,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,234,182 |
$416,978
$49,367 |
$767,837 |
| 2 |
$1,295,928 |
$439,824
$51,837 |
$804,267 |
| 3 |
$1,360,708 |
$463,792
$54,428 |
$842,488 |
| 4 |
$1,428,768 |
$488,975
$57,151 |
$882,642 |
| 5 |
$1,500,190 |
$515,401
$60,008 |
$924,781 |
| 6 |
$1,575,220 |
$543,162
$63,009 |
$969,049 |
| 7 |
$1,653,940 |
$572,288
$66,158 |
$1,015,494 |
| 8 |
$1,736,678 |
$602,901
$69,467 |
$1,064,310 |
| 9 |
$1,823,516 |
$635,031
$72,941 |
$1,115,544 |
| 10 |
$1,914,700 |
$668,769
$76,588 |
$1,169,343 |
| 11 |
$2,010,394 |
$704,176
$80,416 |
$1,225,802 |
| 12 |
$2,110,926 |
$741,373
$84,437 |
$1,285,116 |
| 13 |
$2,216,460 |
$780,421
$88,658 |
$1,347,381 |
| 14 |
$2,327,324 |
$821,440
$93,093 |
$1,412,791 |
| 15 |
$2,443,682 |
$864,493
$97,747 |
$1,481,442 |
| 16 |
$2,565,862 |
$909,699
$102,634 |
$1,553,529 |
| 17 |
$2,694,110 |
$957,151
$107,764 |
$1,629,195 |
| 18 |
$2,828,836 |
$1,007,000
$113,153 |
$1,708,683 |
| 19 |
$2,970,286 |
$1,059,336
$118,811 |
$1,792,139 |
| 20 |
$3,118,788 |
$1,114,282
$124,752 |
$1,879,754 |
| 21 |
$3,274,752 |
$1,171,989
$130,990 |
$1,971,773 |
| 22 |
$3,438,506 |
$1,232,578
$137,540 |
$2,068,388 |
| 23 |
$3,610,378 |
$1,296,170
$144,415 |
$2,169,793 |
| 24 |
$3,790,942 |
$1,362,979
$151,638 |
$2,276,325 |
| 25 |
$3,980,444 |
$1,433,095
$159,218 |
$2,388,131 |
| 26 |
$4,179,540 |
$1,506,760
$167,182 |
$2,505,598 |
| 27 |
$4,388,476 |
$1,584,067
$175,539 |
$2,628,870 |
| 28 |
$4,607,908 |
$1,665,256
$184,316 |
$2,758,336 |
| 29 |
$4,838,328 |
$1,750,512
$193,533 |
$2,894,283 |
| 30 |
$5,080,228 |
$1,840,015
$203,209 |
$3,037,004 |
|
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