The jackpot for the Powerball draw on Sat Mar 1, 2025, is projected to be $272 Million, with an option for a cash payout of $124.4 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 Sat Mar 1, 2025 |
|---|
| Draw Date | Sat Mar 1, 2025 | | Projected Jackpot | $272,000,000 | | Cash Value | $124,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,400,000 | | Federal Tax(24%) | $29,856,000 | | Additional Federal Tax | $16,132,330 | | State Tax(6.5%) | $8,086,000 | | Net Lumpsum Payment | $70,325,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$266,102 |
$2,352,707 |
| 2 |
$4,298,688 |
$1,550,845
$279,415 |
$2,468,428 |
| 3 |
$4,513,568 |
$1,630,351
$293,382 |
$2,589,835 |
| 4 |
$4,739,328 |
$1,713,882
$308,056 |
$2,717,390 |
| 5 |
$4,976,240 |
$1,801,539
$323,456 |
$2,851,245 |
| 6 |
$5,225,120 |
$1,893,625
$339,633 |
$2,991,862 |
| 7 |
$5,486,240 |
$1,990,239
$356,606 |
$3,139,395 |
| 8 |
$5,760,688 |
$2,091,785
$374,445 |
$3,294,458 |
| 9 |
$6,048,736 |
$2,198,363
$393,168 |
$3,457,205 |
| 10 |
$6,351,200 |
$2,310,274
$412,828 |
$3,628,098 |
| 11 |
$6,668,624 |
$2,427,721
$433,461 |
$3,807,442 |
| 12 |
$7,002,096 |
$2,551,106
$455,136 |
$3,995,854 |
| 13 |
$7,352,160 |
$2,680,630
$477,890 |
$4,193,640 |
| 14 |
$7,719,904 |
$2,816,695
$501,794 |
$4,401,415 |
| 15 |
$8,105,872 |
$2,959,503
$526,882 |
$4,619,487 |
| 16 |
$8,511,152 |
$3,109,457
$553,225 |
$4,848,470 |
| 17 |
$8,936,560 |
$3,266,858
$580,876 |
$5,088,826 |
| 18 |
$9,383,456 |
$3,432,209
$609,925 |
$5,341,322 |
| 19 |
$9,852,656 |
$3,605,813
$640,423 |
$5,606,420 |
| 20 |
$10,345,248 |
$3,788,072
$672,441 |
$5,884,735 |
| 21 |
$10,862,592 |
$3,979,489
$706,068 |
$6,177,035 |
| 22 |
$11,405,776 |
$4,180,468
$741,375 |
$6,483,933 |
| 23 |
$11,975,888 |
$4,391,409
$778,433 |
$6,806,046 |
| 24 |
$12,574,832 |
$4,613,018
$817,364 |
$7,144,450 |
| 25 |
$13,203,424 |
$4,845,597
$858,223 |
$7,499,604 |
| 26 |
$13,863,840 |
$5,089,951
$901,150 |
$7,872,739 |
| 27 |
$14,556,896 |
$5,346,382
$946,198 |
$8,264,316 |
| 28 |
$15,284,768 |
$5,615,695
$993,510 |
$8,675,563 |
| 29 |
$16,049,088 |
$5,898,493
$1,043,191 |
$9,107,404 |
| 30 |
$16,851,488 |
$6,195,381
$1,095,347 |
$9,560,760 |
|
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