The jackpot for the Powerball draw on Mon Aug 3, 2026, is projected to be $748 Million, with an option for a cash payout of $325.1 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 Aug 3, 2026 |
|---|
| Draw Date | Mon Aug 3, 2026 | | Projected Jackpot | $748,000,000 | | Cash Value | $325,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $325,100,000 | | Federal Tax(24%) | $78,024,000 | | Additional Federal Tax | $42,223,330 | | State Tax(6.5%) | $21,131,500 | | Net Lumpsum Payment | $183,721,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,258,148 |
$4,125,845
$731,780 |
$6,400,523 |
| 2 |
$11,821,392 |
$4,334,245
$768,390 |
$6,718,757 |
| 3 |
$12,412,312 |
$4,552,886
$806,800 |
$7,052,626 |
| 4 |
$13,033,152 |
$4,782,597
$847,155 |
$7,403,400 |
| 5 |
$13,684,660 |
$5,023,655
$889,503 |
$7,771,502 |
| 6 |
$14,369,080 |
$5,276,890
$933,990 |
$8,158,200 |
| 7 |
$15,087,160 |
$5,542,580
$980,665 |
$8,563,915 |
| 8 |
$15,841,892 |
$5,821,830
$1,029,723 |
$8,990,339 |
| 9 |
$16,634,024 |
$6,114,919
$1,081,212 |
$9,437,893 |
| 10 |
$17,465,800 |
$6,422,676
$1,135,277 |
$9,907,847 |
| 11 |
$18,338,716 |
$6,745,655
$1,192,017 |
$10,401,044 |
| 12 |
$19,255,764 |
$7,084,963
$1,251,625 |
$10,919,176 |
| 13 |
$20,218,440 |
$7,441,153
$1,314,199 |
$11,463,088 |
| 14 |
$21,229,736 |
$7,815,333
$1,379,933 |
$12,034,470 |
| 15 |
$22,291,148 |
$8,208,055
$1,448,925 |
$12,634,168 |
| 16 |
$23,405,668 |
$8,620,428
$1,521,368 |
$13,263,872 |
| 17 |
$24,575,540 |
$9,053,280
$1,597,410 |
$13,924,850 |
| 18 |
$25,804,504 |
$9,507,997
$1,677,293 |
$14,619,214 |
| 19 |
$27,094,804 |
$9,985,408
$1,761,162 |
$15,348,234 |
| 20 |
$28,449,432 |
$10,486,620
$1,849,213 |
$16,113,599 |
| 21 |
$29,872,128 |
$11,013,018
$1,941,688 |
$16,917,422 |
| 22 |
$31,365,884 |
$11,565,707
$2,038,782 |
$17,761,395 |
| 23 |
$32,933,692 |
$12,145,796
$2,140,690 |
$18,647,206 |
| 24 |
$34,580,788 |
$12,755,222
$2,247,751 |
$19,577,815 |
| 25 |
$36,309,416 |
$13,394,814
$2,360,112 |
$20,554,490 |
| 26 |
$38,125,560 |
$14,066,788
$2,478,161 |
$21,580,611 |
| 27 |
$40,031,464 |
$14,771,972
$2,602,045 |
$22,657,447 |
| 28 |
$42,033,112 |
$15,512,582
$2,732,152 |
$23,788,378 |
| 29 |
$44,134,992 |
$16,290,277
$2,868,774 |
$24,975,941 |
| 30 |
$46,341,592 |
$17,106,719
$3,012,203 |
$26,222,670 |
|
|
