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West Virginia Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 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 Powerball 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 $60,000,000 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 prize money, as well as deductions claimed.

State:

West Virginia

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$58,701$546,171
2$948,240$314,921$61,636$571,684
3$995,652$332,464$64,717$598,471
4$1,045,435$350,883$67,953$626,599
5$1,097,707$370,224$71,351$656,132
6$1,152,592$390,531$74,918$687,142
7$1,210,222$411,854$78,664$719,703
8$1,270,733$434,243$82,598$753,892
9$1,334,270$457,752$86,728$789,790
10$1,400,983$482,436$91,064$827,483
11$1,471,032$508,354$95,617$867,061
12$1,544,584$535,568$100,398$908,618
13$1,621,813$564,143$105,418$952,252
14$1,702,904$594,147$110,689$998,068
15$1,788,049$625,650$116,223$1,046,175
16$1,877,451$658,729$122,034$1,096,688
17$1,971,324$693,462$128,136$1,149,726
18$2,069,890$729,932$134,543$1,205,416
19$2,173,384$768,224$141,270$1,263,890
20$2,282,054$808,432$148,333$1,325,288
21$2,396,156$850,650$155,750$1,389,756
22$2,515,964$894,979$163,538$1,457,447
23$2,641,762$941,524$171,715$1,528,523
24$2,773,850$990,397$180,300$1,603,153
25$2,912,543$1,041,713$189,315$1,681,514
26$3,058,170$1,095,595$198,781$1,763,794
27$3,211,079$1,152,171$208,720$1,850,187
28$3,371,633$1,211,576$219,156$1,940,900
29$3,540,214$1,273,951$230,114$2,036,149
30$3,717,225$1,339,445$241,620$2,136,160
Total$60,000,000$21,122,164$3,900,000$34,977,832

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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.