USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Jul 16, 1997

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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 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 $19,800,000 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:Wed, Jul 16, 1997
Jackpot:$19,800,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$353,036$93,937$22,947$236,151
2$367,157$98,880$23,865$244,412
3$381,844$104,020$24,820$253,004
4$397,117$109,366$25,813$261,939
5$413,002$114,926$26,845$271,232
6$429,522$120,708$27,919$280,896
7$446,703$126,721$29,036$290,947
8$464,571$132,975$30,197$301,399
9$483,154$139,479$31,405$312,270
10$502,480$146,243$32,661$323,576
11$522,579$153,278$33,968$335,334
12$543,483$160,594$35,326$347,563
13$565,222$168,202$36,739$360,280
14$587,831$176,116$38,209$373,506
15$611,344$184,385$39,737$387,222
16$635,798$193,433$41,327$401,038
17$661,230$202,843$42,980$415,407
18$687,679$212,629$44,699$430,351
19$715,186$222,807$46,487$445,892
20$743,794$233,391$48,347$462,056
21$773,545$244,399$50,280$478,865
22$804,487$255,848$52,292$496,347
23$836,667$267,754$54,383$514,529
24$870,133$280,137$56,559$533,438
25$904,939$293,015$58,821$553,103
26$941,136$306,408$61,174$573,554
27$978,782$320,337$63,621$594,824
28$1,017,933$334,823$66,166$616,944
29$1,058,650$349,888$68,812$639,950
30$1,100,996$365,556$71,565$663,875
Total$19,800,000$6,113,098$1,287,000$12,399,904

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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.