USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Jun 26, 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 $13,000,000 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, Jun 26, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$12,718$142,650
2$205,452$43,431$13,354$148,667
3$215,725$46,718$14,022$154,984
4$226,511$50,170$14,723$161,618
5$237,836$53,794$15,459$168,583
6$249,728$57,780$16,232$175,716
7$262,215$62,150$17,044$183,021
8$275,325$66,739$17,896$190,691
9$289,092$71,557$18,791$198,744
10$303,546$76,616$19,731$207,200
11$318,724$81,928$20,717$216,079
12$334,660$87,506$21,753$225,401
13$351,393$93,362$22,841$235,190
14$368,962$99,512$23,983$245,468
15$387,411$105,968$25,182$256,260
16$406,781$112,748$26,441$267,592
17$427,120$119,867$27,763$279,491
18$448,476$127,341$29,151$291,984
19$470,900$135,190$30,608$305,102
20$494,445$143,430$32,139$318,876
21$519,167$152,083$33,746$333,338
22$545,126$161,169$35,433$348,524
23$572,382$170,708$37,205$364,469
24$601,001$180,725$39,065$381,211
25$631,051$191,677$41,018$398,356
26$662,604$203,351$43,069$416,183
27$695,734$215,609$45,223$434,902
28$730,520$228,480$47,484$454,556
29$767,046$241,995$49,858$475,193
30$805,399$256,185$52,351$496,863
Total$13,000,000$3,678,089$845,000$8,476,912

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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.