USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Oct 25, 2022

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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 $45,000,000 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:Tue, Oct 25, 2022
Jackpot:$45,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$208,794$44,025$424,495
2$711,180$221,324$46,227$443,629
3$746,739$234,481$48,538$463,720
4$784,076$248,296$50,965$484,815
5$823,280$262,801$53,513$506,965
6$864,444$278,032$56,189$530,223
7$907,666$294,024$58,998$554,644
8$953,050$310,816$61,948$580,285
9$1,000,702$328,448$65,046$607,209
10$1,050,737$346,961$68,298$635,479
11$1,103,274$366,399$71,713$665,162
12$1,158,438$386,810$75,298$696,330
13$1,216,360$408,241$79,063$729,055
14$1,277,178$430,743$83,017$763,418
15$1,341,037$454,371$87,167$799,498
16$1,408,088$479,180$91,526$837,382
17$1,478,493$505,230$96,102$877,161
18$1,552,417$532,582$100,907$918,928
19$1,630,038$561,302$105,952$962,784
20$1,711,540$591,458$111,250$1,008,832
21$1,797,117$623,121$116,813$1,057,183
22$1,886,973$656,368$122,653$1,107,952
23$1,981,322$691,277$128,786$1,161,259
24$2,080,388$727,931$135,225$1,217,231
25$2,184,407$766,418$141,986$1,276,002
26$2,293,628$806,830$149,086$1,337,712
27$2,408,309$849,262$156,540$1,402,507
28$2,528,724$893,816$164,367$1,470,542
29$2,655,161$940,597$172,585$1,541,978
30$2,787,919$989,718$181,215$1,616,986
Total$45,000,000$15,395,631$2,924,998$26,679,366

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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.