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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Feb 23, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $525,000,000 for a ticket purchased in West Virginia, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

West Virginia

Drawing Date:Fri, Feb 23, 2024
Jackpot:$525,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,902,003$2,881,929$513,630$4,506,444
2$8,297,104$3,028,116$539,312$4,729,676
3$8,711,959$3,181,612$566,277$4,964,069
4$9,147,557$3,342,784$594,591$5,210,182
5$9,604,934$3,512,013$624,321$5,468,600
6$10,085,181$3,689,705$655,537$5,739,940
7$10,589,441$3,876,281$688,314$6,024,846
8$11,118,913$4,072,185$722,729$6,323,998
9$11,674,858$4,277,885$758,866$6,638,107
10$12,258,601$4,493,870$796,809$6,967,922
11$12,871,531$4,720,654$836,650$7,314,227
12$13,515,108$4,958,778$878,482$7,677,848
13$14,190,863$5,208,807$922,406$8,059,650
14$14,900,406$5,471,338$968,526$8,460,542
15$15,645,426$5,746,995$1,016,953$8,881,478
16$16,427,698$6,036,436$1,067,800$9,323,462
17$17,249,082$6,340,348$1,121,190$9,787,544
18$18,111,537$6,659,456$1,177,250$10,274,830
19$19,017,113$6,994,520$1,236,112$10,786,481
20$19,967,969$7,346,336$1,297,918$11,323,715
21$20,966,367$7,715,744$1,362,814$11,887,810
22$22,014,686$8,103,622$1,430,955$12,480,110
23$23,115,420$8,510,893$1,502,502$13,102,025
24$24,271,191$8,938,528$1,577,627$13,755,035
25$25,484,751$9,387,545$1,656,509$14,440,696
26$26,758,989$9,859,014$1,739,334$15,160,641
27$28,096,938$10,354,055$1,826,301$15,916,582
28$29,501,784$10,873,848$1,917,616$16,710,320
29$30,976,874$11,419,631$2,013,497$17,543,746
30$32,525,718$11,992,703$2,114,172$18,418,843
Total$525,000,001$192,995,631$34,125,000$297,879,369

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.