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West Virginia Mega Millions Jackpot Annuity Payout Schedule for Aug 27, 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 $582,000,000 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 27, 2024
Jackpot:$582,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,759,935$3,199,364$569,396$4,991,176
2$9,197,932$3,361,423$597,866$5,238,644
3$9,657,828$3,531,584$627,759$5,498,485
4$10,140,720$3,710,254$659,147$5,771,319
5$10,647,756$3,897,857$692,104$6,057,794
6$11,180,144$4,094,841$726,709$6,358,593
7$11,739,151$4,301,674$763,045$6,674,433
8$12,326,109$4,518,848$801,197$7,006,064
9$12,942,414$4,746,881$841,257$7,354,276
10$13,589,535$4,986,316$883,320$7,719,899
11$14,269,012$5,237,722$927,486$8,103,804
12$14,982,462$5,501,699$973,860$8,506,903
13$15,731,585$5,778,874$1,022,553$8,930,158
14$16,518,165$6,069,909$1,073,681$9,374,575
15$17,344,073$6,375,495$1,127,365$9,841,213
16$18,211,276$6,696,360$1,183,733$10,331,183
17$19,121,840$7,033,269$1,242,920$10,845,652
18$20,077,932$7,387,023$1,305,066$11,385,844
19$21,081,828$7,758,464$1,370,319$11,953,045
20$22,135,920$8,148,478$1,438,835$12,548,607
21$23,242,716$8,557,993$1,510,777$13,173,947
22$24,404,852$8,987,983$1,586,315$13,830,554
23$25,625,095$9,439,473$1,665,631$14,519,991
24$26,906,349$9,913,537$1,748,913$15,243,899
25$28,251,666$10,411,304$1,836,358$16,004,004
26$29,664,250$10,933,960$1,928,176$16,802,114
27$31,147,463$11,482,749$2,024,585$17,640,129
28$32,704,835$12,058,977$2,125,814$18,520,044
29$34,340,077$12,664,016$2,232,105$19,443,956
30$36,057,081$13,299,308$2,343,710$20,414,063
Total$582,000,001$214,085,635$37,830,002$330,084,368

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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.