USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Oct 2, 2002

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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 $22,100,000 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, Oct 2, 2002
Jackpot:$22,100,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$394,045$108,291$25,613$260,142
2$409,807$113,807$26,637$269,362
3$426,199$119,544$27,703$278,952
4$443,247$125,511$28,811$288,925
5$460,977$131,717$29,964$299,297
6$479,416$138,170$31,162$310,084
7$498,593$144,882$32,409$321,302
8$518,537$151,863$33,705$332,969
9$539,278$159,122$35,053$345,103
10$560,849$166,672$36,455$357,722
11$583,283$174,524$37,913$370,846
12$606,614$182,690$39,430$384,495
13$630,879$191,613$41,007$398,259
14$656,114$200,950$42,647$412,517
15$682,359$210,660$44,353$427,345
16$709,653$220,759$46,127$442,766
17$738,039$231,262$47,973$458,804
18$767,561$242,185$49,891$475,484
19$798,263$253,545$51,887$492,831
20$830,194$265,359$53,963$510,872
21$863,402$277,646$56,121$529,634
22$897,938$290,425$58,366$549,147
23$933,855$303,714$60,701$569,440
24$971,209$317,535$63,129$590,546
25$1,010,058$331,909$65,654$612,495
26$1,050,460$346,858$68,280$635,322
27$1,092,478$362,405$71,011$659,063
28$1,136,178$378,573$73,852$683,753
29$1,181,625$395,389$76,806$709,430
30$1,228,890$412,877$79,878$736,135
Total$22,100,000$6,950,457$1,436,501$13,713,042

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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.