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Powerball Annuity Jackpot Analysis for West Virginia

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $170,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

West Virginia

Drawing Date:  Wed, Jan 25, 2017
Jackpot:$170,000,000
Federal Tax:  25%
State Tax:6.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,558,744$639,686$166,318$1,752,740
2$2,686,681$671,670$174,634$1,840,377
3$2,821,015$705,254$183,366$1,932,395
4$2,962,066$740,517$192,534$2,029,015
5$3,110,169$777,542$202,161$2,130,466
6$3,265,678$816,419$212,269$2,236,989
7$3,428,962$857,240$222,883$2,348,839
8$3,600,410$900,102$234,027$2,466,281
9$3,780,430$945,108$245,728$2,589,595
10$3,969,452$992,363$258,014$2,719,074
11$4,167,924$1,041,981$270,915$2,855,028
12$4,376,321$1,094,080$284,461$2,997,780
13$4,595,137$1,148,784$298,684$3,147,669
14$4,824,893$1,206,223$313,618$3,305,052
15$5,066,138$1,266,535$329,299$3,470,305
16$5,319,445$1,329,861$345,764$3,643,820
17$5,585,417$1,396,354$363,052$3,826,011
18$5,864,688$1,466,172$381,205$4,017,311
19$6,157,922$1,539,481$400,265$4,218,177
20$6,465,819$1,616,455$420,278$4,429,086
21$6,789,109$1,697,277$441,292$4,650,540
22$7,128,565$1,782,141$463,357$4,883,067
23$7,484,993$1,871,248$486,525$5,127,220
24$7,859,243$1,964,811$510,851$5,383,581
25$8,252,205$2,063,051$536,393$5,652,760
26$8,664,815$2,166,204$563,213$5,935,399
27$9,098,056$2,274,514$591,374$6,232,168
28$9,552,959$2,388,240$620,942$6,543,777
29$10,030,607$2,507,652$651,989$6,870,966
30$10,532,137$2,633,034$684,589$7,214,514
Total$170,000,000$42,500,000$11,050,000$116,450,000
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