USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Aug 22, 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 $33,000,000 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 22, 2023
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$144,219$32,285$320,193
2$521,532$152,911$33,900$334,722
3$547,609$162,038$35,595$349,976
4$574,989$171,621$37,374$365,994
5$603,739$181,683$39,243$382,812
6$633,926$192,740$41,205$399,980
7$665,622$204,468$43,265$417,889
8$698,903$216,782$45,429$436,692
9$733,848$229,712$47,700$456,436
10$770,541$243,288$50,085$477,168
11$809,068$257,543$52,589$498,935
12$849,521$272,511$55,219$521,792
13$891,997$288,227$57,980$545,791
14$936,597$304,729$60,879$570,990
15$983,427$322,056$63,923$597,448
16$1,032,598$340,249$67,119$625,230
17$1,084,228$359,352$70,475$654,401
18$1,138,439$379,410$73,999$685,031
19$1,195,361$400,471$77,698$717,191
20$1,255,129$422,586$81,583$750,960
21$1,317,886$445,806$85,663$786,418
22$1,383,780$470,186$89,946$823,648
23$1,452,969$495,786$94,443$862,740
24$1,525,618$522,666$99,165$903,786
25$1,601,899$550,890$104,123$946,885
26$1,681,994$580,525$109,330$992,139
27$1,766,093$611,642$114,796$1,039,655
28$1,854,398$644,315$120,536$1,089,547
29$1,947,118$678,621$126,563$1,141,934
30$2,044,474$714,643$132,891$1,196,940
Total$33,000,000$10,961,676$2,145,001$19,893,323

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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.