The jackpot for the Powerball draw on Wed Jul 15, 2026, is projected to be $498 Million, with an option for a cash payout of $221 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 Jul 15, 2026 |
|---|
| Draw Date | Wed Jul 15, 2026 | | Projected Jackpot | $498,000,000 | | Cash Value | $221,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $221,000,000 | | Federal Tax(24%) | $53,040,000 | | Additional Federal Tax | $28,690,330 | | State Tax(6.5%) | $14,365,000 | | Net Lumpsum Payment | $124,904,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,495,398 |
$2,733,628
$487,201 |
$4,274,569 |
| 2 |
$7,870,392 |
$2,872,375
$511,575 |
$4,486,442 |
| 3 |
$8,263,812 |
$3,017,941
$537,148 |
$4,708,723 |
| 4 |
$8,677,152 |
$3,170,877
$564,015 |
$4,942,260 |
| 5 |
$9,110,910 |
$3,331,367
$592,209 |
$5,187,334 |
| 6 |
$9,566,580 |
$3,499,965
$621,828 |
$5,444,787 |
| 7 |
$10,044,660 |
$3,676,855
$652,903 |
$5,714,902 |
| 8 |
$10,547,142 |
$3,862,773
$685,564 |
$5,998,805 |
| 9 |
$11,074,524 |
$4,057,904
$719,844 |
$6,296,776 |
| 10 |
$11,628,300 |
$4,262,801
$755,840 |
$6,609,659 |
| 11 |
$12,209,466 |
$4,477,833
$793,615 |
$6,938,018 |
| 12 |
$12,820,014 |
$4,703,736
$833,301 |
$7,282,977 |
| 13 |
$13,460,940 |
$4,940,878
$874,961 |
$7,645,101 |
| 14 |
$14,134,236 |
$5,189,998
$918,725 |
$8,025,513 |
| 15 |
$14,840,898 |
$5,451,463
$964,658 |
$8,424,777 |
| 16 |
$15,582,918 |
$5,726,010
$1,012,890 |
$8,844,018 |
| 17 |
$16,361,790 |
$6,014,193
$1,063,516 |
$9,284,081 |
| 18 |
$17,180,004 |
$6,316,932
$1,116,700 |
$9,746,372 |
| 19 |
$18,039,054 |
$6,634,780
$1,172,539 |
$10,231,735 |
| 20 |
$18,940,932 |
$6,968,475
$1,231,161 |
$10,741,296 |
| 21 |
$19,888,128 |
$7,318,938
$1,292,728 |
$11,276,462 |
| 22 |
$20,882,634 |
$7,686,905
$1,357,371 |
$11,838,358 |
| 23 |
$21,926,442 |
$8,073,114
$1,425,219 |
$12,428,109 |
| 24 |
$23,023,038 |
$8,478,854
$1,496,497 |
$13,047,687 |
| 25 |
$24,173,916 |
$8,904,679
$1,571,305 |
$13,697,932 |
| 26 |
$25,383,060 |
$9,352,063
$1,649,899 |
$14,381,098 |
| 27 |
$26,651,964 |
$9,821,557
$1,732,378 |
$15,098,029 |
| 28 |
$27,984,612 |
$10,314,637
$1,819,000 |
$15,850,975 |
| 29 |
$29,383,992 |
$10,832,407
$1,909,959 |
$16,641,626 |
| 30 |
$30,853,092 |
$11,375,974
$2,005,451 |
$17,471,667 |
|
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