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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Jun 18, 2024

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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 $61,000,000 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, Jun 18, 2024
Jackpot:$61,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$918,138$297,899$59,679$560,560
2$964,044$314,884$62,663$586,497
3$1,012,247$332,719$65,796$613,732
4$1,062,859$351,446$69,086$642,328
5$1,116,002$371,108$72,540$672,353
6$1,171,802$391,754$76,167$703,880
7$1,230,392$413,433$79,975$736,984
8$1,291,912$436,195$83,974$771,742
9$1,356,507$460,095$88,173$808,239
10$1,424,333$485,191$92,582$846,560
11$1,495,549$511,541$97,211$886,798
12$1,570,327$539,209$102,071$929,047
13$1,648,843$568,260$107,175$973,409
14$1,731,285$598,763$112,534$1,019,988
15$1,817,850$630,792$118,160$1,068,897
16$1,908,742$664,422$124,068$1,120,251
17$2,004,179$699,734$130,272$1,174,173
18$2,104,388$736,811$136,785$1,230,792
19$2,209,607$775,743$143,624$1,290,240
20$2,320,088$816,620$150,806$1,352,662
21$2,436,092$859,542$158,346$1,418,204
22$2,557,897$904,610$166,263$1,487,024
23$2,685,792$951,931$174,576$1,559,285
24$2,820,081$1,001,618$183,305$1,635,158
25$2,961,085$1,053,789$192,471$1,714,825
26$3,109,140$1,108,569$202,094$1,798,476
27$3,264,597$1,166,088$212,199$1,886,309
28$3,427,826$1,226,484$222,809$1,978,534
29$3,599,218$1,289,898$233,949$2,075,370
30$3,779,179$1,356,484$245,647$2,177,048
Total$61,000,000$21,315,632$3,965,000$35,719,365

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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.