USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Feb 17, 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 $17,000,000 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:Tue, Feb 17, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$16,632$179,312
2$268,668$64,409$17,463$186,796
3$282,102$69,110$18,337$194,655
4$296,207$74,047$19,253$202,906
5$311,017$79,231$20,216$211,570
6$326,568$84,673$21,227$220,667
7$342,896$90,388$22,288$230,220
8$360,041$96,389$23,403$240,249
9$378,043$102,690$24,573$250,780
10$396,945$109,306$25,801$261,838
11$416,792$116,252$27,092$273,449
12$437,632$123,546$28,446$285,640
13$459,514$131,205$29,868$298,441
14$482,489$139,246$31,362$311,882
15$506,614$147,690$32,930$325,994
16$531,945$156,555$34,576$340,813
17$558,542$165,864$36,305$356,372
18$586,469$175,639$38,120$372,710
19$615,792$186,031$40,026$389,735
20$646,582$197,423$42,028$407,131
21$678,911$209,385$44,129$425,397
22$712,856$221,945$46,336$444,576
23$748,499$235,132$48,652$464,714
24$785,924$248,980$51,085$485,859
25$825,220$263,519$53,639$508,062
26$866,482$278,786$56,321$531,374
27$909,806$294,816$59,137$555,852
28$955,296$311,647$62,094$581,554
29$1,003,061$329,320$65,199$608,542
30$1,053,214$347,877$68,459$636,878
Total$17,000,000$5,111,032$1,104,997$10,783,968

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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.