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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Sep 26, 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 $93,000,000 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, Sep 26, 2014
Jackpot:$93,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,399,783$476,108$90,986$832,690
2$1,469,773$502,004$95,535$872,234
3$1,543,261$529,194$100,312$913,755
4$1,620,424$557,745$105,328$957,352
5$1,701,446$587,723$110,594$1,003,129
6$1,786,518$619,199$116,124$1,051,195
7$1,875,844$652,250$121,930$1,101,664
8$1,969,636$686,953$128,026$1,154,657
9$2,068,118$723,391$134,428$1,210,299
10$2,171,524$761,651$141,149$1,268,723
11$2,280,100$801,825$148,206$1,330,069
12$2,394,105$844,007$155,617$1,394,481
13$2,513,810$888,297$163,398$1,462,115
14$2,639,501$934,803$171,568$1,533,130
15$2,771,476$983,634$180,146$1,607,696
16$2,910,049$1,034,906$189,153$1,685,990
17$3,055,552$1,088,742$198,611$1,768,199
18$3,208,329$1,145,270$208,541$1,854,518
19$3,368,746$1,204,624$218,968$1,945,154
20$3,537,183$1,266,946$229,917$2,040,321
21$3,714,042$1,332,383$241,413$2,140,246
22$3,899,744$1,401,093$253,483$2,245,168
23$4,094,732$1,473,238$266,158$2,355,336
24$4,299,468$1,548,991$279,465$2,471,012
25$4,514,442$1,628,531$293,439$2,592,472
26$4,740,164$1,712,048$308,111$2,720,005
27$4,977,172$1,799,741$323,516$2,853,914
28$5,226,030$1,891,819$339,692$2,994,519
29$5,487,332$1,988,501$356,677$3,142,155
30$5,761,699$2,090,016$374,510$3,297,172
Total$93,000,000$33,155,633$6,045,001$53,799,370

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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.