The jackpot for the Powerball draw on Mon Jun 2, 2025, is projected to be $20 Million, with an option for a cash payout of $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 Mon Jun 2, 2025 |
|---|
| Draw Date | Mon Jun 2, 2025 | | Projected Jackpot | $20,000,000 | | Cash Value | $9,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $9,000,000 | | Federal Tax(24%) | $2,160,000 | | Additional Federal Tax | $1,130,330 | | State Tax(6.5%) | $585,000 | | Net Lumpsum Payment | $5,124,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$301,020 |
$71,708
$19,566 |
$209,746 |
| 2 |
$316,080 |
$77,280
$20,545 |
$218,255 |
| 3 |
$331,880 |
$83,126
$21,572 |
$227,182 |
| 4 |
$348,480 |
$89,268
$22,651 |
$236,561 |
| 5 |
$365,900 |
$95,713
$23,784 |
$246,403 |
| 6 |
$384,200 |
$102,484
$24,973 |
$256,743 |
| 7 |
$403,400 |
$109,588
$26,221 |
$267,591 |
| 8 |
$423,580 |
$117,055
$27,533 |
$278,992 |
| 9 |
$444,760 |
$124,892
$28,909 |
$290,959 |
| 10 |
$467,000 |
$133,120
$30,355 |
$303,525 |
| 11 |
$490,340 |
$141,756
$31,872 |
$316,712 |
| 12 |
$514,860 |
$150,829
$33,466 |
$330,565 |
| 13 |
$540,600 |
$160,352
$35,139 |
$345,109 |
| 14 |
$567,640 |
$170,357
$36,897 |
$360,386 |
| 15 |
$596,020 |
$180,858
$38,741 |
$376,421 |
| 16 |
$625,820 |
$191,884
$40,678 |
$393,258 |
| 17 |
$657,100 |
$203,457
$42,712 |
$410,931 |
| 18 |
$689,960 |
$215,616
$44,847 |
$429,497 |
| 19 |
$724,460 |
$228,381
$47,090 |
$448,989 |
| 20 |
$760,680 |
$241,782
$49,444 |
$469,454 |
| 21 |
$798,720 |
$255,857
$51,917 |
$490,946 |
| 22 |
$838,660 |
$270,635
$54,513 |
$513,512 |
| 23 |
$880,580 |
$286,145
$57,238 |
$537,197 |
| 24 |
$924,620 |
$302,440
$60,100 |
$562,080 |
| 25 |
$970,840 |
$319,541
$63,105 |
$588,194 |
| 26 |
$1,019,400 |
$337,508
$66,261 |
$615,631 |
| 27 |
$1,070,360 |
$356,364
$69,573 |
$644,423 |
| 28 |
$1,123,880 |
$376,166
$73,052 |
$674,662 |
| 29 |
$1,180,080 |
$396,960
$76,705 |
$706,415 |
| 30 |
$1,239,080 |
$418,790
$80,540 |
$739,750 |
|
|
