Powerball
Latest draw · Saturday, July 4, 2026 · double_play
Powerball Tax Calculator
See what you'd really take home from a Powerball prize after federal and Virginia state tax — as a lump sum or a 30-year annuity.
- Prize (lump-sum cash)
- $402,700,000
- Federal tax
- − $148,957,188
- State tax (Virginia · 5.75%)
- − $23,155,250
- Net take-home
- $230,587,562
Estimate only — uses single-filer federal brackets and Virginia's top lottery-withholding rate. Actual tax depends on your total income, filing status and deductions. Not tax advice.
Powerball tax FAQ
How much tax do you pay on a Powerball jackpot in Virginia?
On a $402,700,000 Powerball jackpot taken as a lump sum, you'd pay about $148,957,188 in federal tax and $23,155,250 in Virginia state tax, leaving roughly $230,587,562.
Does Virginia tax Powerball lottery winnings?
Yes — Virginia withholds about 5.75% in state tax on Powerball winnings, on top of federal tax.
Should I take the Powerball lump sum or annuity?
The lump sum pays a smaller, discounted amount now with full control; the 30-year annuity pays the full advertised jackpot spread over time and can keep you in lower yearly tax brackets. The best choice depends on your goals and tax situation.