The jackpot for the Powerball draw on Wed Apr 2, 2025, is projected to be $30 Million, with an option for a cash payout of $13.9 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 Apr 2, 2025 |
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Draw Date | Wed Apr 2, 2025 | Projected Jackpot | $30,000,000 | Cash Value | $13,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $13,900,000 | Federal Tax(24%) | $3,336,000 | Additional Federal Tax | $1,767,330 | State Tax(6.5%) | $903,500 | Net Lumpsum Payment | $7,893,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$451,530 |
$127,396 $29,349 |
$294,785 |
2 |
$474,120 |
$135,755 $30,818 |
$307,547 |
3 |
$497,820 |
$144,524 $32,358 |
$320,938 |
4 |
$522,720 |
$153,737 $33,977 |
$335,006 |
5 |
$548,850 |
$163,405 $35,675 |
$349,770 |
6 |
$576,300 |
$173,561 $37,460 |
$365,279 |
7 |
$605,100 |
$184,217 $39,332 |
$381,551 |
8 |
$635,370 |
$195,417 $41,299 |
$398,654 |
9 |
$667,140 |
$207,172 $43,364 |
$416,604 |
10 |
$700,500 |
$219,515 $45,533 |
$435,452 |
11 |
$735,510 |
$232,469 $47,808 |
$455,233 |
12 |
$772,290 |
$246,078 $50,199 |
$476,013 |
13 |
$810,900 |
$260,363 $52,709 |
$497,828 |
14 |
$851,460 |
$275,371 $55,345 |
$520,744 |
15 |
$894,030 |
$291,121 $58,112 |
$544,797 |
16 |
$938,730 |
$307,660 $61,017 |
$570,053 |
17 |
$985,650 |
$325,021 $64,067 |
$596,562 |
18 |
$1,034,940 |
$343,258 $67,271 |
$624,411 |
19 |
$1,086,690 |
$362,406 $70,635 |
$653,649 |
20 |
$1,141,020 |
$382,508 $74,166 |
$684,346 |
21 |
$1,198,080 |
$403,620 $77,875 |
$716,585 |
22 |
$1,257,990 |
$425,787 $81,769 |
$750,434 |
23 |
$1,320,870 |
$449,052 $85,857 |
$785,961 |
24 |
$1,386,930 |
$473,494 $90,150 |
$823,286 |
25 |
$1,456,260 |
$499,147 $94,657 |
$862,456 |
26 |
$1,529,100 |
$526,097 $99,392 |
$903,611 |
27 |
$1,605,540 |
$554,380 $104,360 |
$946,800 |
28 |
$1,685,820 |
$584,084 $109,578 |
$992,158 |
29 |
$1,770,120 |
$615,275 $115,058 |
$1,039,787 |
30 |
$1,858,620 |
$648,020 $120,810 |
$1,089,790 |
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