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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Aug 22, 2014

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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 $180,000,000 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, Aug 22, 2014
Jackpot:$180,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,709,258$960,613$176,102$1,572,543
2$2,844,721$1,010,735$184,907$1,649,080
3$2,986,957$1,063,362$194,152$1,729,443
4$3,136,305$1,118,621$203,860$1,813,825
5$3,293,120$1,176,642$214,053$1,902,425
6$3,457,776$1,237,565$224,755$1,995,456
7$3,630,665$1,301,534$235,993$2,093,138
8$3,812,199$1,368,701$247,793$2,195,704
9$4,002,809$1,439,227$260,183$2,303,399
10$4,202,949$1,513,279$273,192$2,416,478
11$4,413,096$1,591,033$286,851$2,535,212
12$4,633,751$1,672,676$301,194$2,659,882
13$4,865,439$1,758,400$316,254$2,790,785
14$5,108,711$1,848,411$332,066$2,928,234
15$5,364,146$1,942,922$348,670$3,072,555
16$5,632,354$2,042,159$366,103$3,224,092
17$5,913,971$2,146,357$384,408$3,383,206
18$6,209,670$2,255,766$403,629$3,550,276
19$6,520,153$2,370,644$423,810$3,725,699
20$6,846,161$2,491,267$445,000$3,909,893
21$7,188,469$2,617,921$467,250$4,103,297
22$7,547,892$2,750,908$490,613$4,306,371
23$7,925,287$2,890,544$515,144$4,519,599
24$8,321,551$3,037,162$540,901$4,743,489
25$8,737,629$3,191,110$567,946$4,978,572
26$9,174,510$3,352,757$596,343$5,225,411
27$9,633,236$3,522,485$626,160$5,484,591
28$10,114,898$3,700,700$657,468$5,756,729
29$10,620,642$3,887,825$690,342$6,042,475
30$11,151,675$4,084,307$724,859$6,342,508
Total$180,000,000$65,345,633$11,700,001$102,954,367

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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.