The jackpot for the Powerball draw on Wed Mar 11, 2026, is projected to be $58 Million, with an option for a cash payout of $26.8 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 Mar 11, 2026 |
|---|
| Draw Date | Wed Mar 11, 2026 | | Projected Jackpot | $58,000,000 | | Cash Value | $26,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,800,000 | | Federal Tax(24%) | $6,432,000 | | Additional Federal Tax | $3,444,330 | | State Tax(4%) | $1,072,000 | | Net Lumpsum Payment | $15,851,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$872,958 |
$283,325
$34,918 |
$554,715 |
| 2 |
$916,632 |
$299,484
$36,665 |
$580,483 |
| 3 |
$962,452 |
$316,438
$38,498 |
$607,516 |
| 4 |
$1,010,592 |
$334,249
$40,424 |
$635,919 |
| 5 |
$1,061,110 |
$352,941
$42,444 |
$665,725 |
| 6 |
$1,114,180 |
$372,577
$44,567 |
$697,036 |
| 7 |
$1,169,860 |
$393,179
$46,794 |
$729,887 |
| 8 |
$1,228,382 |
$414,832
$49,135 |
$764,415 |
| 9 |
$1,289,804 |
$437,558
$51,592 |
$800,654 |
| 10 |
$1,354,300 |
$461,421
$54,172 |
$838,707 |
| 11 |
$1,421,986 |
$486,465
$56,879 |
$878,642 |
| 12 |
$1,493,094 |
$512,775
$59,724 |
$920,595 |
| 13 |
$1,567,740 |
$540,394
$62,710 |
$964,636 |
| 14 |
$1,646,156 |
$569,408
$65,846 |
$1,010,902 |
| 15 |
$1,728,458 |
$599,860
$69,138 |
$1,059,460 |
| 16 |
$1,814,878 |
$631,835
$72,595 |
$1,110,448 |
| 17 |
$1,905,590 |
$665,399
$76,224 |
$1,163,967 |
| 18 |
$2,000,884 |
$700,657
$80,035 |
$1,220,192 |
| 19 |
$2,100,934 |
$737,676
$84,037 |
$1,279,221 |
| 20 |
$2,205,972 |
$776,540
$88,239 |
$1,341,193 |
| 21 |
$2,316,288 |
$817,357
$92,652 |
$1,406,279 |
| 22 |
$2,432,114 |
$860,213
$97,285 |
$1,474,616 |
| 23 |
$2,553,682 |
$905,193
$102,147 |
$1,546,342 |
| 24 |
$2,681,398 |
$952,448
$107,256 |
$1,621,694 |
| 25 |
$2,815,436 |
$1,002,042
$112,617 |
$1,700,777 |
| 26 |
$2,956,260 |
$1,054,147
$118,250 |
$1,783,863 |
| 27 |
$3,104,044 |
$1,108,827
$124,162 |
$1,871,055 |
| 28 |
$3,259,252 |
$1,166,254
$130,370 |
$1,962,628 |
| 29 |
$3,422,232 |
$1,226,556
$136,889 |
$2,058,787 |
| 30 |
$3,593,332 |
$1,289,863
$143,733 |
$2,159,736 |
|
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