USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Sep 21, 2002

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $12,000,000 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:Sat, Sep 21, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$13,907$153,900
2$222,520$48,893$14,464$159,163
3$231,420$51,741$15,042$164,637
4$240,677$54,703$15,644$170,330
5$250,304$57,981$16,270$176,053
6$260,317$61,486$16,921$181,910
7$270,729$65,130$17,597$188,002
8$281,558$68,920$18,301$194,337
9$292,821$72,862$19,033$200,925
10$304,533$76,961$19,795$207,777
11$316,715$81,225$20,586$214,903
12$329,383$85,659$21,410$222,315
13$342,559$90,270$22,266$230,022
14$356,261$95,066$23,157$238,038
15$370,512$100,054$24,083$246,375
16$385,332$105,241$25,047$255,044
17$400,745$110,636$26,048$264,061
18$416,775$116,246$27,090$273,439
19$433,446$122,081$28,174$283,191
20$450,784$128,149$29,301$293,334
21$468,815$134,460$30,473$303,882
22$487,568$141,024$31,692$314,852
23$507,071$147,849$32,960$326,262
24$527,353$154,948$34,278$338,127
25$548,448$162,331$35,649$350,467
26$570,386$170,010$37,075$363,301
27$593,201$177,995$38,558$376,648
28$616,929$186,451$40,100$390,377
29$641,606$195,582$41,704$404,320
30$667,270$205,078$43,373$418,820
Total$12,000,000$3,315,186$779,998$7,904,812

◄ Back to Jackpot Analysis

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.