The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Wed Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(4%) | $5,920,000 | | Net Lumpsum Payment | $87,359,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$196,867 |
$2,943,459 |
| 2 |
$5,167,908 |
$1,872,456
$206,716 |
$3,088,736 |
| 3 |
$5,426,238 |
$1,968,038
$217,050 |
$3,241,150 |
| 4 |
$5,697,648 |
$2,068,460
$227,906 |
$3,401,282 |
| 5 |
$5,982,465 |
$2,173,842
$239,299 |
$3,569,324 |
| 6 |
$6,281,670 |
$2,284,548
$251,267 |
$3,745,855 |
| 7 |
$6,595,590 |
$2,400,699
$263,824 |
$3,931,067 |
| 8 |
$6,925,533 |
$2,522,778
$277,021 |
$4,125,734 |
| 9 |
$7,271,826 |
$2,650,906
$290,873 |
$4,330,047 |
| 10 |
$7,635,450 |
$2,785,447
$305,418 |
$4,544,585 |
| 11 |
$8,017,059 |
$2,926,642
$320,682 |
$4,769,735 |
| 12 |
$8,417,961 |
$3,074,976
$336,718 |
$5,006,267 |
| 13 |
$8,838,810 |
$3,230,690
$353,552 |
$5,254,568 |
| 14 |
$9,280,914 |
$3,394,269
$371,237 |
$5,515,408 |
| 15 |
$9,744,927 |
$3,565,953
$389,797 |
$5,789,177 |
| 16 |
$10,232,157 |
$3,746,228
$409,286 |
$6,076,643 |
| 17 |
$10,743,585 |
$3,935,457
$429,743 |
$6,378,385 |
| 18 |
$11,280,846 |
$4,134,243
$451,234 |
$6,695,369 |
| 19 |
$11,844,921 |
$4,342,951
$473,797 |
$7,028,173 |
| 20 |
$12,437,118 |
$4,562,064
$497,485 |
$7,377,569 |
| 21 |
$13,059,072 |
$4,792,187
$522,363 |
$7,744,522 |
| 22 |
$13,712,091 |
$5,033,804
$548,484 |
$8,129,803 |
| 23 |
$14,397,483 |
$5,287,399
$575,899 |
$8,534,185 |
| 24 |
$15,117,537 |
$5,553,819
$604,701 |
$8,959,017 |
| 25 |
$15,873,234 |
$5,833,427
$634,929 |
$9,404,878 |
| 26 |
$16,667,190 |
$6,127,191
$666,688 |
$9,873,311 |
| 27 |
$17,500,386 |
$6,435,473
$700,015 |
$10,364,898 |
| 28 |
$18,375,438 |
$6,759,242
$735,018 |
$10,881,178 |
| 29 |
$19,294,308 |
$7,099,224
$771,772 |
$11,423,312 |
| 30 |
$20,258,958 |
$7,456,145
$810,358 |
$11,992,455 |
|
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