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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Sep 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 $162,000,000 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, Sep 15, 2023
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$158,492$1,419,470
2$2,560,249$905,480$166,416$1,488,353
3$2,688,262$952,845$174,737$1,560,680
4$2,822,675$1,002,577$183,474$1,636,623
5$2,963,808$1,054,797$192,648$1,716,364
6$3,111,999$1,109,627$202,280$1,800,092
7$3,267,599$1,167,199$212,394$1,888,006
8$3,430,979$1,227,650$223,014$1,980,315
9$3,602,528$1,291,123$234,164$2,077,240
10$3,782,654$1,357,770$245,873$2,179,012
11$3,971,787$1,427,749$258,166$2,285,872
12$4,170,376$1,501,227$271,074$2,398,075
13$4,378,895$1,578,379$284,628$2,515,888
14$4,597,840$1,659,388$298,860$2,639,592
15$4,827,732$1,744,448$313,803$2,769,481
16$5,069,118$1,833,761$329,493$2,905,864
17$5,322,574$1,927,540$345,967$3,049,067
18$5,588,703$2,026,008$363,266$3,199,429
19$5,868,138$2,129,399$381,429$3,357,310
20$6,161,545$2,237,959$400,500$3,523,085
21$6,469,622$2,351,948$420,525$3,697,149
22$6,793,103$2,471,636$441,552$3,879,915
23$7,132,758$2,597,308$463,629$4,071,821
24$7,489,396$2,729,264$486,811$4,273,321
25$7,863,866$2,867,818$511,151$4,484,896
26$8,257,059$3,013,300$536,709$4,707,051
27$8,669,912$3,166,055$563,544$4,940,313
28$9,103,408$3,326,449$591,722$5,185,238
29$9,558,578$3,494,862$621,308$5,442,409
30$10,036,507$3,671,695$652,373$5,712,439
Total$162,000,000$58,685,632$10,530,002$92,784,370

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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.