USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$35,220$346,608
2$568,944$169,505$36,981$362,458
3$597,391$179,462$38,830$379,099
4$627,261$190,274$40,772$396,215
5$658,624$201,879$42,811$413,935
6$691,555$214,063$44,951$432,541
7$726,133$226,857$47,199$452,077
8$762,440$240,290$49,559$472,591
9$800,562$254,396$52,037$494,130
10$840,590$269,206$54,638$516,745
11$882,619$284,757$57,370$540,492
12$926,750$301,085$60,239$565,426
13$973,088$318,230$63,251$591,607
14$1,021,742$336,232$66,413$619,097
15$1,072,829$355,135$69,734$647,961
16$1,126,471$374,982$73,221$678,268
17$1,182,794$395,822$76,882$710,091
18$1,241,934$417,703$80,726$743,505
19$1,304,031$440,679$84,762$778,590
20$1,369,232$464,804$89,000$815,428
21$1,437,694$490,134$93,450$854,109
22$1,509,578$516,732$98,123$894,724
23$1,585,057$544,659$103,029$937,370
24$1,664,310$573,983$108,180$982,148
25$1,747,526$604,772$113,589$1,029,164
26$1,834,902$637,102$119,269$1,078,532
27$1,926,647$671,047$125,232$1,130,368
28$2,022,980$706,690$131,494$1,184,796
29$2,124,128$744,115$138,068$1,241,945
30$2,230,335$783,412$144,972$1,301,951
Total$36,000,000$12,068,030$2,340,002$21,591,971

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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.