USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Jan 9, 1998

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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 $14,000,000 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, Jan 9, 1998
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$210,720$45,117$13,697$151,906
2$221,256$48,488$14,382$158,386
3$232,319$52,029$15,101$165,190
4$243,935$55,752$15,856$172,327
5$256,132$60,021$16,649$179,462
6$268,938$64,503$17,481$186,954
7$282,385$69,210$18,355$194,821
8$296,504$74,151$19,273$203,080
9$311,330$79,340$20,236$211,753
10$326,896$84,788$21,248$220,859
11$343,241$90,509$22,311$230,421
12$360,403$96,516$23,426$240,461
13$378,423$102,823$24,597$251,003
14$397,344$109,445$25,827$262,072
15$417,211$116,399$27,119$273,694
16$438,072$123,700$28,475$285,897
17$459,976$131,366$29,898$298,711
18$482,974$139,416$31,393$312,165
19$507,123$147,868$32,963$326,292
20$532,479$156,742$34,611$341,126
21$559,103$166,061$36,342$356,701
22$587,058$175,845$38,159$373,054
23$616,411$186,260$40,067$390,085
24$647,232$197,664$42,070$407,498
25$679,593$209,637$44,174$425,782
26$713,573$222,210$46,382$444,981
27$749,252$235,411$48,701$465,139
28$786,714$249,272$51,136$486,306
29$826,050$263,826$53,693$508,530
30$867,352$279,108$56,378$531,866
Total$14,000,000$4,033,477$910,000$9,056,522

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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.