USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Jul 14, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $560,000,000 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:Fri, Jul 14, 2023
Jackpot:$560,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,428,804$3,076,845$547,872$4,804,086
2$8,850,244$3,232,778$575,266$5,042,200
3$9,292,756$3,396,507$604,029$5,292,219
4$9,757,394$3,568,424$634,231$5,554,740
5$10,245,263$3,748,935$665,942$5,830,386
6$10,757,527$3,938,473$699,239$6,119,815
7$11,295,403$4,137,487$734,201$6,423,715
8$11,860,173$4,346,452$770,911$6,742,810
9$12,453,182$4,565,865$809,457$7,077,860
10$13,075,841$4,796,249$849,930$7,429,662
11$13,729,633$5,038,152$892,426$7,799,055
12$14,416,115$5,292,150$937,047$8,186,917
13$15,136,920$5,558,848$983,900$8,594,172
14$15,893,767$5,838,881$1,033,095$9,021,790
15$16,688,455$6,132,916$1,084,750$9,470,789
16$17,522,878$6,441,652$1,138,987$9,942,238
17$18,399,021$6,765,826$1,195,936$10,437,259
18$19,318,972$7,106,208$1,255,733$10,957,032
19$20,284,921$7,463,608$1,318,520$11,502,793
20$21,299,167$7,838,880$1,384,446$12,075,842
21$22,364,125$8,232,914$1,453,668$12,677,543
22$23,482,332$8,646,650$1,526,352$13,309,330
23$24,656,448$9,081,074$1,602,669$13,972,706
24$25,889,270$9,537,218$1,682,803$14,669,250
25$27,183,734$10,016,169$1,766,943$15,400,622
26$28,542,921$10,519,069$1,855,290$16,168,563
27$29,970,067$11,047,113$1,948,054$16,974,900
28$31,468,570$11,601,559$2,045,457$17,821,554
29$33,041,999$12,183,727$2,147,730$18,710,541
30$34,694,099$12,795,004$2,255,116$19,643,978
Total$560,000,001$205,945,633$36,400,000$317,654,367

◄ Back to Jackpot Analysis

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.