USA Mega

West Virginia Mega Millions Jackpot Annuity Payout Schedule for Sep 20, 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 $47,000,000 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 20, 2024
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$219,932$45,982$441,503
2$742,788$233,019$48,281$461,488
3$779,928$246,761$50,695$482,471
4$818,924$261,190$53,230$504,504
5$859,870$276,340$55,892$527,639
6$902,864$292,247$58,686$551,930
7$948,007$308,950$61,620$577,436
8$995,407$326,488$64,701$604,217
9$1,045,178$344,904$67,937$632,338
10$1,097,437$364,239$71,333$661,864
11$1,152,308$384,542$74,900$692,867
12$1,209,924$405,860$78,645$725,419
13$1,270,420$428,243$82,577$759,600
14$1,333,941$451,746$86,706$795,489
15$1,400,638$476,424$91,041$833,173
16$1,470,670$502,336$95,594$872,741
17$1,544,204$529,543$100,373$914,287
18$1,621,414$558,111$105,392$957,911
19$1,702,484$588,107$110,661$1,003,716
20$1,787,609$619,603$116,195$1,051,811
21$1,876,989$652,674$122,004$1,102,311
22$1,970,839$687,398$128,105$1,155,336
23$2,069,380$723,859$134,510$1,211,012
24$2,172,849$762,142$141,235$1,269,472
25$2,281,492$802,340$148,297$1,330,855
26$2,395,567$844,547$155,712$1,395,307
27$2,515,345$888,865$163,497$1,462,982
28$2,641,112$935,399$171,672$1,534,041
29$2,773,168$984,260$180,256$1,608,652
30$2,911,826$1,035,563$189,269$1,686,994
Total$47,000,000$16,135,632$3,054,998$27,809,366

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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.