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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Jul 11, 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 $500,000,000 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, Jul 11, 2023
Jackpot:$500,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,525,718$2,742,703$489,172$4,293,843
2$7,902,004$2,881,929$513,630$4,506,444
3$8,297,104$3,028,116$539,312$4,729,676
4$8,711,959$3,181,613$566,277$4,964,069
5$9,147,557$3,342,784$594,591$5,210,182
6$9,604,935$3,512,014$624,321$5,468,600
7$10,085,182$3,689,705$655,537$5,739,940
8$10,589,441$3,876,281$688,314$6,024,846
9$11,118,913$4,072,185$722,729$6,323,998
10$11,674,858$4,277,885$758,866$6,638,107
11$12,258,601$4,493,870$796,809$6,967,922
12$12,871,531$4,720,654$836,650$7,314,227
13$13,515,108$4,958,778$878,482$7,677,848
14$14,190,863$5,208,807$922,406$8,059,650
15$14,900,406$5,471,338$968,526$8,460,542
16$15,645,427$5,746,996$1,016,953$8,881,478
17$16,427,698$6,036,436$1,067,800$9,323,461
18$17,249,083$6,340,348$1,121,190$9,787,544
19$18,111,537$6,659,456$1,177,250$10,274,830
20$19,017,114$6,994,520$1,236,112$10,786,481
21$19,967,969$7,346,336$1,297,918$11,323,715
22$20,966,368$7,715,744$1,362,814$11,887,810
23$22,014,686$8,103,622$1,430,955$12,480,110
24$23,115,420$8,510,893$1,502,502$13,102,025
25$24,271,191$8,938,528$1,577,627$13,755,035
26$25,484,751$9,387,546$1,656,509$14,440,697
27$26,758,989$9,859,013$1,739,334$15,160,641
28$28,096,938$10,354,055$1,826,301$15,916,582
29$29,501,785$10,873,848$1,917,616$16,710,320
30$30,976,874$11,419,631$2,013,497$17,543,746
Total$500,000,001$183,745,634$32,500,000$283,754,369

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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.