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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West 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(6.5%) | $9,620,000 | | Net Lumpsum Payment | $83,659,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$319,909 |
$2,820,417 |
| 2 |
$5,167,908 |
$1,872,456
$335,914 |
$2,959,538 |
| 3 |
$5,426,238 |
$1,968,038
$352,705 |
$3,105,495 |
| 4 |
$5,697,648 |
$2,068,460
$370,347 |
$3,258,841 |
| 5 |
$5,982,465 |
$2,173,842
$388,860 |
$3,419,763 |
| 6 |
$6,281,670 |
$2,284,548
$408,309 |
$3,588,813 |
| 7 |
$6,595,590 |
$2,400,699
$428,713 |
$3,766,178 |
| 8 |
$6,925,533 |
$2,522,778
$450,160 |
$3,952,595 |
| 9 |
$7,271,826 |
$2,650,906
$472,669 |
$4,148,251 |
| 10 |
$7,635,450 |
$2,785,447
$496,304 |
$4,353,699 |
| 11 |
$8,017,059 |
$2,926,642
$521,109 |
$4,569,308 |
| 12 |
$8,417,961 |
$3,074,976
$547,167 |
$4,795,818 |
| 13 |
$8,838,810 |
$3,230,690
$574,523 |
$5,033,597 |
| 14 |
$9,280,914 |
$3,394,269
$603,259 |
$5,283,386 |
| 15 |
$9,744,927 |
$3,565,953
$633,420 |
$5,545,554 |
| 16 |
$10,232,157 |
$3,746,228
$665,090 |
$5,820,839 |
| 17 |
$10,743,585 |
$3,935,457
$698,333 |
$6,109,795 |
| 18 |
$11,280,846 |
$4,134,243
$733,255 |
$6,413,348 |
| 19 |
$11,844,921 |
$4,342,951
$769,920 |
$6,732,050 |
| 20 |
$12,437,118 |
$4,562,064
$808,413 |
$7,066,641 |
| 21 |
$13,059,072 |
$4,792,187
$848,840 |
$7,418,045 |
| 22 |
$13,712,091 |
$5,033,804
$891,286 |
$7,787,001 |
| 23 |
$14,397,483 |
$5,287,399
$935,836 |
$8,174,248 |
| 24 |
$15,117,537 |
$5,553,819
$982,640 |
$8,581,078 |
| 25 |
$15,873,234 |
$5,833,427
$1,031,760 |
$9,008,047 |
| 26 |
$16,667,190 |
$6,127,191
$1,083,367 |
$9,456,632 |
| 27 |
$17,500,386 |
$6,435,473
$1,137,525 |
$9,927,388 |
| 28 |
$18,375,438 |
$6,759,242
$1,194,403 |
$10,421,793 |
| 29 |
$19,294,308 |
$7,099,224
$1,254,130 |
$10,940,954 |
| 30 |
$20,258,958 |
$7,456,145
$1,316,832 |
$11,485,981 |
|
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