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West Virginia Mega Millions Jackpot Annuity Payout Schedule for May 29, 2020

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The tax information provided here is based on 2021 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 $336,000,000 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 prize money, as well as deductions claimed.

State:

West Virginia

Drawing Date:Fri, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$328,723$2,893,292
2$5,310,146$1,928,826$345,160$3,036,160
3$5,575,654$2,027,064$362,417$3,186,172
4$5,854,436$2,130,214$380,538$3,343,684
5$6,147,158$2,238,521$399,565$3,509,072
6$6,454,516$2,352,243$419,544$3,682,729
7$6,777,242$2,471,652$440,521$3,865,069
8$7,116,104$2,597,031$462,547$4,056,527
9$7,471,909$2,728,679$485,674$4,257,556
10$7,845,505$2,866,909$509,958$4,468,638
11$8,237,780$3,012,051$535,456$4,690,273
12$8,649,669$3,164,450$562,228$4,922,991
13$9,082,152$3,324,469$590,340$5,167,344
14$9,536,260$3,492,488$619,857$5,423,915
15$10,013,073$3,668,909$650,850$5,693,314
16$10,513,727$3,854,151$683,392$5,976,183
17$11,039,413$4,048,655$717,562$6,273,196
18$11,591,383$4,252,884$753,440$6,585,059
19$12,170,953$4,467,325$791,112$6,912,516
20$12,779,500$4,692,487$830,668$7,256,345
21$13,418,475$4,928,908$872,201$7,617,366
22$14,089,399$5,177,150$915,811$7,996,438
23$14,793,869$5,437,804$961,601$8,394,464
24$15,533,562$5,711,490$1,009,682$8,812,390
25$16,310,240$5,998,861$1,060,166$9,251,214
26$17,125,753$6,300,601$1,113,174$9,711,978
27$17,982,040$6,617,427$1,168,833$10,195,781
28$18,881,142$6,950,095$1,227,274$10,703,773
29$19,825,199$7,299,396$1,288,638$11,237,165
30$20,816,459$7,666,162$1,353,070$11,797,227
Total$336,000,001$123,242,169$21,840,002$190,917,831

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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.