USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,107,201$743,737$136,968$1,226,496
2$2,212,561$782,720$143,816$1,286,025
3$2,323,189$823,652$151,007$1,348,530
4$2,439,349$866,631$158,558$1,414,160
5$2,561,316$911,759$166,486$1,483,071
6$2,689,382$959,143$174,810$1,555,428
7$2,823,851$1,008,897$183,550$1,631,403
8$2,965,043$1,061,138$192,728$1,711,177
9$3,113,296$1,115,992$202,364$1,794,940
10$3,268,960$1,173,588$212,482$1,882,890
11$3,432,408$1,234,063$223,107$1,975,238
12$3,604,029$1,297,563$234,262$2,072,204
13$3,784,230$1,364,237$245,975$2,174,018
14$3,973,442$1,434,246$258,274$2,280,922
15$4,172,114$1,507,754$271,187$2,393,172
16$4,380,719$1,584,938$284,747$2,511,034
17$4,599,755$1,665,982$298,984$2,634,789
18$4,829,743$1,751,077$313,933$2,764,733
19$5,071,230$1,840,427$329,630$2,901,173
20$5,324,792$1,934,245$346,111$3,044,435
21$5,591,031$2,032,754$363,417$3,194,860
22$5,870,583$2,136,188$381,588$3,352,807
23$6,164,112$2,244,794$400,667$3,518,651
24$6,472,318$2,358,830$420,701$3,692,787
25$6,795,933$2,478,568$441,736$3,875,630
26$7,135,730$2,604,292$463,822$4,067,615
27$7,492,517$2,736,303$487,014$4,269,200
28$7,867,143$2,874,915$511,364$4,480,863
29$8,260,500$3,020,457$536,932$4,703,110
30$8,673,525$3,173,276$563,779$4,936,469
Total$140,000,000$50,722,166$9,099,999$80,177,830

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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.