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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Jun 27, 2023

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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 $343,000,000 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, Jun 27, 2023
Jackpot:$343,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,162,642$1,868,365$335,572$2,958,705
2$5,420,774$1,963,874$352,350$3,104,550
3$5,691,813$2,064,159$369,968$3,257,687
4$5,976,404$2,169,457$388,466$3,418,480
5$6,275,224$2,280,021$407,890$3,587,314
6$6,588,985$2,396,112$428,284$3,764,589
7$6,918,435$2,518,009$449,698$3,950,728
8$7,264,356$2,646,000$472,183$4,146,173
9$7,627,574$2,780,390$495,792$4,351,392
10$8,008,953$2,921,500$520,582$4,566,870
11$8,409,400$3,069,666$546,611$4,793,123
12$8,829,870$3,225,240$573,942$5,030,689
13$9,271,364$3,388,592$602,639$5,280,133
14$9,734,932$3,560,113$632,771$5,542,049
15$10,221,679$3,740,209$664,409$5,817,061
16$10,732,763$3,929,310$697,630$6,105,823
17$11,269,400$4,127,866$732,511$6,409,024
18$11,832,871$4,336,350$769,137$6,727,384
19$12,424,514$4,555,258$807,593$7,061,663
20$13,045,740$4,785,111$847,973$7,412,655
21$13,698,027$5,026,458$890,372$7,781,197
22$14,382,928$5,279,871$934,890$8,168,167
23$15,102,075$5,545,955$981,635$8,574,484
24$15,857,178$5,825,344$1,030,717$9,001,118
25$16,650,037$6,118,701$1,082,252$9,449,083
26$17,482,539$6,426,727$1,136,365$9,919,447
27$18,356,666$6,750,154$1,193,183$10,413,329
28$19,274,499$7,089,752$1,252,842$10,931,904
29$20,238,224$7,446,331$1,315,485$11,476,409
30$21,250,136$7,820,738$1,381,259$12,048,139
Total$343,000,001$125,655,633$22,295,001$195,049,369

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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.