USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $12,000,000 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, Sep 8, 1998
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$36,391$11,740$132,486
2$189,648$38,558$12,327$138,763
3$199,130$41,408$12,943$144,779
4$209,087$44,594$13,591$150,902
5$219,541$47,940$14,270$157,331
6$230,518$51,452$14,984$164,082
7$242,044$55,141$15,733$171,171
8$254,147$59,326$16,520$178,301
9$266,854$63,774$17,346$185,735
10$280,197$68,444$18,213$193,540
11$294,206$73,347$19,123$201,736
12$308,917$78,496$20,080$210,342
13$324,363$83,902$21,084$219,377
14$340,581$89,578$22,138$228,865
15$357,610$95,538$23,245$238,827
16$375,490$101,796$24,407$249,287
17$394,265$108,367$25,627$260,270
18$413,978$115,267$26,909$271,802
19$434,677$122,512$28,254$283,911
20$456,411$130,119$29,667$296,626
21$479,231$138,106$31,150$309,976
22$503,193$146,492$32,708$323,993
23$528,352$155,298$34,343$338,711
24$554,770$164,544$36,060$354,166
25$582,509$174,253$37,863$370,393
26$611,634$184,492$39,756$387,385
27$642,216$195,808$41,744$404,664
28$674,327$207,689$43,831$422,807
29$708,043$220,164$46,023$441,856
30$743,445$233,262$48,324$461,859
Total$12,000,000$3,326,058$780,003$7,893,943

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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.