The jackpot for the Powerball draw on Sat May 24, 2025, is projected to be $163 Million, with an option for a cash payout of $73.3 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 Sat May 24, 2025 |
| Draw Date |
Sat May 24, 2025 |
| Projected Jackpot |
$163,000,000 |
| Cash Value |
$73,300,000 |
| Lumpsum Option Taxes and Payment |
| Cash Gross Payment |
$73,300,000 |
| Federal Tax(24%) |
$17,592,000 |
| Additional Federal Tax |
$9,489,330 |
| State Tax(4%) |
$2,932,000 |
| Net Lumpsum Payment |
$43,286,670 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,453,313 |
$868,056
$98,133 |
$1,487,124 |
| 2 |
$2,576,052 |
$913,470
$103,042 |
$1,559,540 |
| 3 |
$2,704,822 |
$961,115
$108,193 |
$1,635,514 |
| 4 |
$2,840,112 |
$1,011,172
$113,604 |
$1,715,336 |
| 5 |
$2,982,085 |
$1,063,702
$119,283 |
$1,799,100 |
| 6 |
$3,131,230 |
$1,118,885
$125,249 |
$1,887,096 |
| 7 |
$3,287,710 |
$1,176,783
$131,508 |
$1,979,419 |
| 8 |
$3,452,177 |
$1,237,636
$138,087 |
$2,076,454 |
| 9 |
$3,624,794 |
$1,301,504
$144,992 |
$2,178,298 |
| 10 |
$3,806,050 |
$1,368,569
$152,242 |
$2,285,239 |
| 11 |
$3,996,271 |
$1,438,951
$159,851 |
$2,397,469 |
| 12 |
$4,196,109 |
$1,512,891
$167,844 |
$2,515,374 |
| 13 |
$4,405,890 |
$1,590,510
$176,236 |
$2,639,144 |
| 14 |
$4,626,266 |
$1,672,049
$185,051 |
$2,769,166 |
| 15 |
$4,857,563 |
$1,757,629
$194,303 |
$2,905,631 |
| 16 |
$5,100,433 |
$1,847,491
$204,017 |
$3,048,925 |
| 17 |
$5,355,365 |
$1,941,815
$214,215 |
$3,199,335 |
| 18 |
$5,623,174 |
$2,040,905
$224,927 |
$3,357,342 |
| 19 |
$5,904,349 |
$2,144,940
$236,174 |
$3,523,235 |
| 20 |
$6,199,542 |
$2,254,161
$247,982 |
$3,697,399 |
| 21 |
$6,509,568 |
$2,368,871
$260,383 |
$3,880,314 |
| 22 |
$6,835,079 |
$2,489,310
$273,403 |
$4,072,366 |
| 23 |
$7,176,727 |
$2,615,719
$287,069 |
$4,273,939 |
| 24 |
$7,535,653 |
$2,748,522
$301,426 |
$4,485,705 |
| 25 |
$7,912,346 |
$2,887,898
$316,494 |
$4,707,954 |
| 26 |
$8,308,110 |
$3,034,331
$332,324 |
$4,941,455 |
| 27 |
$8,723,434 |
$3,188,001
$348,937 |
$5,186,496 |
| 28 |
$9,159,622 |
$3,349,391
$366,385 |
$5,443,846 |
| 29 |
$9,617,652 |
$3,518,862
$384,706 |
$5,714,084 |
| 30 |
$10,098,502 |
$3,696,776
$403,940 |
$5,997,786 |
|
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