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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Jul 4, 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 $400,000,000 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 4, 2023
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$391,337$3,443,437
2$6,321,603$2,297,181$410,904$3,613,518
3$6,637,683$2,414,130$431,449$3,792,103
4$6,969,567$2,536,928$453,022$3,979,618
5$7,318,045$2,665,864$475,673$4,176,508
6$7,683,948$2,801,248$499,457$4,383,243
7$8,068,145$2,943,401$524,429$4,600,314
8$8,471,552$3,092,662$550,651$4,828,239
9$8,895,130$3,249,386$578,183$5,067,561
10$9,339,886$3,413,946$607,093$5,318,848
11$9,806,881$3,586,734$637,447$5,582,700
12$10,297,225$3,768,161$669,320$5,859,744
13$10,812,086$3,958,660$702,786$6,150,641
14$11,352,690$4,158,683$737,925$6,456,082
15$11,920,325$4,368,708$774,821$6,776,796
16$12,516,341$4,589,234$813,562$7,113,545
17$13,142,158$4,820,786$854,240$7,467,132
18$13,799,266$5,063,916$896,952$7,838,398
19$14,489,229$5,319,203$941,800$8,228,227
20$15,213,691$5,587,253$988,890$8,637,548
21$15,974,375$5,868,707$1,038,334$9,067,334
22$16,773,094$6,164,233$1,090,251$9,518,610
23$17,611,749$6,474,535$1,144,764$9,992,450
24$18,492,336$6,800,352$1,202,002$10,489,982
25$19,416,953$7,142,460$1,262,102$11,012,391
26$20,387,801$7,501,674$1,325,207$11,560,920
27$21,407,191$7,878,848$1,391,467$12,136,875
28$22,477,550$8,274,881$1,461,041$12,741,628
29$23,601,428$8,690,716$1,534,093$13,376,619
30$24,781,499$9,127,342$1,610,797$14,043,359
Total$400,000,001$146,745,632$25,999,999$227,254,370

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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.