The jackpot for the Powerball draw on Sat May 23, 2026, is projected to be $131 Million, with an option for a cash payout of $57.5 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 May 23, 2026 |
|---|
| Draw Date | Sat May 23, 2026 | | Projected Jackpot | $131,000,000 | | Cash Value | $57,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,500,000 | | Federal Tax(24%) | $13,800,000 | | Additional Federal Tax | $7,435,330 | | State Tax(6.5%) | $3,737,500 | | Net Lumpsum Payment | $32,527,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,971,681 |
$689,852
$128,159 |
$1,153,670 |
| 2 |
$2,070,324 |
$726,350
$134,571 |
$1,209,403 |
| 3 |
$2,173,814 |
$764,642
$141,298 |
$1,267,874 |
| 4 |
$2,282,544 |
$804,872
$148,365 |
$1,329,307 |
| 5 |
$2,396,645 |
$847,089
$155,782 |
$1,393,774 |
| 6 |
$2,516,510 |
$891,439
$163,573 |
$1,461,498 |
| 7 |
$2,642,270 |
$937,970
$171,748 |
$1,532,552 |
| 8 |
$2,774,449 |
$986,877
$180,339 |
$1,607,233 |
| 9 |
$2,913,178 |
$1,038,206
$189,357 |
$1,685,615 |
| 10 |
$3,058,850 |
$1,092,105
$198,825 |
$1,767,920 |
| 11 |
$3,211,727 |
$1,148,669
$208,762 |
$1,854,296 |
| 12 |
$3,372,333 |
$1,208,094
$219,202 |
$1,945,037 |
| 13 |
$3,540,930 |
$1,270,474
$230,160 |
$2,040,296 |
| 14 |
$3,718,042 |
$1,336,006
$241,673 |
$2,140,363 |
| 15 |
$3,903,931 |
$1,404,785
$253,756 |
$2,245,390 |
| 16 |
$4,099,121 |
$1,477,005
$266,443 |
$2,355,673 |
| 17 |
$4,304,005 |
$1,552,812
$279,760 |
$2,471,433 |
| 18 |
$4,519,238 |
$1,632,448
$293,750 |
$2,593,040 |
| 19 |
$4,745,213 |
$1,716,059
$308,439 |
$2,720,715 |
| 20 |
$4,982,454 |
$1,803,838
$323,860 |
$2,854,756 |
| 21 |
$5,231,616 |
$1,896,028
$340,055 |
$2,995,533 |
| 22 |
$5,493,223 |
$1,992,823
$357,059 |
$3,143,341 |
| 23 |
$5,767,799 |
$2,094,416
$374,907 |
$3,298,476 |
| 24 |
$6,056,261 |
$2,201,147
$393,657 |
$3,461,457 |
| 25 |
$6,359,002 |
$2,313,161
$413,335 |
$3,632,506 |
| 26 |
$6,677,070 |
$2,430,846
$434,010 |
$3,812,214 |
| 27 |
$7,010,858 |
$2,554,348
$455,706 |
$4,000,804 |
| 28 |
$7,361,414 |
$2,684,054
$478,492 |
$4,198,868 |
| 29 |
$7,729,524 |
$2,820,254
$502,419 |
$4,406,851 |
| 30 |
$8,115,974 |
$2,963,241
$527,538 |
$4,625,195 |
|
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