USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Nov 21, 1997

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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 $15,000,000 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, Nov 21, 1997
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$14,675$161,163
2$237,060$53,546$15,409$168,105
3$248,913$57,494$16,179$175,239
4$261,359$61,850$16,988$182,520
5$274,427$66,424$17,838$190,165
6$288,148$71,227$18,730$198,192
7$302,555$76,269$19,666$206,620
8$317,683$81,564$20,649$215,470
9$333,567$87,123$21,682$224,762
10$350,246$92,961$22,766$234,519
11$367,758$99,090$23,904$244,764
12$386,146$105,526$25,099$255,521
13$405,453$112,283$26,354$266,815
14$425,726$119,379$27,672$278,675
15$447,012$126,829$29,056$291,127
16$469,363$134,652$30,509$304,202
17$492,831$142,866$32,034$317,931
18$517,472$151,490$33,636$332,347
19$543,346$160,546$35,317$347,483
20$570,513$170,054$37,083$363,376
21$599,039$180,038$38,938$380,063
22$628,991$190,914$40,884$397,192
23$660,441$202,551$42,929$414,961
24$693,463$214,769$45,075$433,619
25$728,136$227,598$47,329$453,209
26$764,543$241,068$49,695$473,779
27$802,770$255,213$52,180$495,377
28$842,908$270,064$54,789$518,055
29$885,054$285,658$57,528$541,867
30$929,306$302,031$60,405$566,870
Total$15,000,000$4,391,010$974,998$9,633,988

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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.