5.75% state lottery tax
Virginia Powerball Tax Calculator
Last updated:
Virginia applies a 5.75% state lottery tax. Combined with the 24% federal withholding and the top-bracket federal adjustment, the effective tax on a large jackpot lands around 38–42%.
Note: 5.75% top rate
Virginia after-tax take-home by jackpot tier
24% federal withholding + top-bracket adjustment + state tax. Cash lump sum estimated at 60% of advertised jackpot.
| Advertised | Cash take-home | Cash effective | Annuity take-home |
|---|---|---|---|
| $100M | $34.4M | 42.61% | $57.3M |
| $300M | $103.1M | 42.7% | $171.8M |
| $500M | $171.8M | 42.72% | $286.3M |
| $700M | $240.5M | 42.73% | $400.8M |
| $1B | $343.6M | 42.74% | $572.6M |
| $1.5B | $515.3M | 42.74% | $858.8M |
| $2B | $687.1M | 42.74% | $1.1B |
Virginia vs neighboring states ($1B cash)
| State | Rate | Cash take-home |
|---|---|---|
| Virginia (VA) | 5.75% | $343.6M |
| North Carolina (NC) | 4.25% | $352.6M |
| Maryland (MD) | 8.75% | $325.6M |
| West Virginia (WV) | 4.82% | $349.2M |