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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 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 $57,000,000 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:Tue, Aug 25, 2020
Jackpot:$57,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$857,932$281,507$55,766$520,659
2$900,828$297,379$58,554$544,896
3$945,870$314,044$61,482$570,344
4$993,163$331,543$64,556$597,065
5$1,042,821$349,916$67,783$625,122
6$1,094,963$369,208$71,173$654,582
7$1,149,711$389,465$74,731$685,514
8$1,207,196$410,735$78,468$717,994
9$1,267,556$433,068$82,391$752,097
10$1,330,934$456,518$86,511$787,905
11$1,397,481$481,140$90,836$825,504
12$1,467,355$506,993$95,378$864,983
13$1,540,722$534,139$100,147$906,436
14$1,617,758$562,643$105,154$949,961
15$1,698,646$592,571$110,412$995,663
16$1,783,579$623,996$115,933$1,043,650
17$1,872,758$656,993$121,729$1,094,036
18$1,966,395$691,639$127,816$1,146,941
19$2,064,715$728,017$134,206$1,202,492
20$2,167,951$766,214$140,917$1,260,820
21$2,276,348$806,321$147,963$1,322,065
22$2,390,166$848,434$155,361$1,386,371
23$2,509,674$892,652$163,129$1,453,894
24$2,635,158$939,081$171,285$1,524,792
25$2,766,916$987,831$179,850$1,599,235
26$2,905,262$1,039,019$188,842$1,677,401
27$3,050,525$1,092,766$198,284$1,759,474
28$3,203,051$1,149,201$208,198$1,845,651
29$3,363,203$1,208,458$218,608$1,936,138
30$3,531,364$1,270,677$229,539$2,031,148
Total$57,000,000$20,012,168$3,705,002$33,282,833

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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.