The jackpot for the Powerball draw on Mon Feb 2, 2026, is projected to be $65 Million, with an option for a cash payout of $29.4 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 Mon Feb 2, 2026 |
|---|
| Draw Date | Mon Feb 2, 2026 | | Projected Jackpot | $65,000,000 | | Cash Value | $29,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,400,000 | | Federal Tax(24%) | $7,056,000 | | Additional Federal Tax | $3,782,330 | | State Tax(6.5%) | $1,911,000 | | Net Lumpsum Payment | $16,650,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$978,315 |
$322,307
$63,590 |
$592,418 |
| 2 |
$1,027,260 |
$340,417
$66,772 |
$620,071 |
| 3 |
$1,078,610 |
$359,416
$70,110 |
$649,084 |
| 4 |
$1,132,560 |
$379,378
$73,616 |
$679,566 |
| 5 |
$1,189,175 |
$400,325
$77,296 |
$711,554 |
| 6 |
$1,248,650 |
$422,331
$81,162 |
$745,157 |
| 7 |
$1,311,050 |
$445,419
$85,218 |
$780,413 |
| 8 |
$1,376,635 |
$469,685
$89,481 |
$817,469 |
| 9 |
$1,445,470 |
$495,154
$93,956 |
$856,360 |
| 10 |
$1,517,750 |
$521,898
$98,654 |
$897,198 |
| 11 |
$1,593,605 |
$549,964
$103,584 |
$940,057 |
| 12 |
$1,673,295 |
$579,450
$108,764 |
$985,081 |
| 13 |
$1,756,950 |
$610,402
$114,202 |
$1,032,346 |
| 14 |
$1,844,830 |
$642,917
$119,914 |
$1,081,999 |
| 15 |
$1,937,065 |
$677,044
$125,909 |
$1,134,112 |
| 16 |
$2,033,915 |
$712,879
$132,204 |
$1,188,832 |
| 17 |
$2,135,575 |
$750,493
$138,812 |
$1,246,270 |
| 18 |
$2,242,370 |
$790,007
$145,754 |
$1,306,609 |
| 19 |
$2,354,495 |
$831,494
$153,042 |
$1,369,959 |
| 20 |
$2,472,210 |
$875,048
$160,694 |
$1,436,468 |
| 21 |
$2,595,840 |
$920,791
$168,730 |
$1,506,319 |
| 22 |
$2,725,645 |
$968,819
$177,167 |
$1,579,659 |
| 23 |
$2,861,885 |
$1,019,228
$186,023 |
$1,656,634 |
| 24 |
$3,005,015 |
$1,072,186
$195,326 |
$1,737,503 |
| 25 |
$3,155,230 |
$1,127,765
$205,090 |
$1,822,375 |
| 26 |
$3,313,050 |
$1,186,159
$215,348 |
$1,911,543 |
| 27 |
$3,478,670 |
$1,247,438
$226,114 |
$2,005,118 |
| 28 |
$3,652,610 |
$1,311,796
$237,420 |
$2,103,394 |
| 29 |
$3,835,260 |
$1,379,377
$249,292 |
$2,206,591 |
| 30 |
$4,027,010 |
$1,450,324
$261,756 |
$2,314,930 |
|
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