The jackpot for the Powerball draw on Sat Apr 5, 2025, is projected to be $47 Million, with an option for a cash payout of $21.8 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 Apr 5, 2025 |
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Draw Date | Sat Apr 5, 2025 | Projected Jackpot | $47,000,000 | Cash Value | $21,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $21,800,000 | Federal Tax(24%) | $5,232,000 | Additional Federal Tax | $2,794,330 | State Tax(4%) | $872,000 | Net Lumpsum Payment | $12,901,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$707,397 |
$222,067 $28,296 |
$457,034 |
2 |
$742,788 |
$235,162 $29,712 |
$477,914 |
3 |
$779,918 |
$248,900 $31,197 |
$499,821 |
4 |
$818,928 |
$263,334 $32,757 |
$522,837 |
5 |
$859,865 |
$278,480 $34,395 |
$546,990 |
6 |
$902,870 |
$294,392 $36,115 |
$572,363 |
7 |
$947,990 |
$311,087 $37,920 |
$598,983 |
8 |
$995,413 |
$328,633 $39,817 |
$626,963 |
9 |
$1,045,186 |
$347,049 $41,807 |
$656,330 |
10 |
$1,097,450 |
$366,387 $43,898 |
$687,165 |
11 |
$1,152,299 |
$386,681 $46,092 |
$719,526 |
12 |
$1,209,921 |
$408,001 $48,397 |
$753,523 |
13 |
$1,270,410 |
$430,382 $50,816 |
$789,212 |
14 |
$1,333,954 |
$453,893 $53,358 |
$826,703 |
15 |
$1,400,647 |
$478,570 $56,026 |
$866,051 |
16 |
$1,470,677 |
$504,481 $58,827 |
$907,369 |
17 |
$1,544,185 |
$531,679 $61,767 |
$950,739 |
18 |
$1,621,406 |
$560,251 $64,856 |
$996,299 |
19 |
$1,702,481 |
$590,248 $68,099 |
$1,044,134 |
20 |
$1,787,598 |
$621,742 $71,504 |
$1,094,352 |
21 |
$1,876,992 |
$654,817 $75,080 |
$1,147,095 |
22 |
$1,970,851 |
$689,545 $78,834 |
$1,202,472 |
23 |
$2,069,363 |
$725,995 $82,775 |
$1,260,593 |
24 |
$2,172,857 |
$764,287 $86,914 |
$1,321,656 |
25 |
$2,281,474 |
$804,476 $91,259 |
$1,385,739 |
26 |
$2,395,590 |
$846,699 $95,824 |
$1,453,067 |
27 |
$2,515,346 |
$891,008 $100,614 |
$1,523,724 |
28 |
$2,641,118 |
$937,544 $105,645 |
$1,597,929 |
29 |
$2,773,188 |
$986,410 $110,928 |
$1,675,850 |
30 |
$2,911,838 |
$1,037,710 $116,474 |
$1,757,654 |
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