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West Virginia Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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The tax information provided here is based on 2025 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 $112,000,000 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, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 4.82%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$695,900$96,254$1,204,818
2$2,076,850$725,455$100,104$1,251,291
3$2,159,924$756,192$104,108$1,299,624
4$2,246,321$788,159$108,273$1,349,889
5$2,336,174$821,405$112,604$1,402,166
6$2,429,621$855,980$117,108$1,456,533
7$2,526,806$891,938$121,792$1,513,075
8$2,627,878$929,335$126,664$1,571,879
9$2,732,993$968,228$131,730$1,633,035
10$2,842,313$1,008,676$136,999$1,696,637
11$2,956,005$1,050,742$142,479$1,762,783
12$3,074,245$1,094,491$148,179$1,831,576
13$3,197,215$1,139,990$154,106$1,903,119
14$3,325,104$1,187,309$160,270$1,977,525
15$3,458,108$1,236,520$166,681$2,054,907
16$3,596,432$1,287,700$173,348$2,135,384
17$3,740,289$1,340,927$180,282$2,219,080
18$3,889,901$1,396,284$187,493$2,306,124
19$4,045,497$1,453,854$194,993$2,396,650
20$4,207,317$1,513,728$202,793$2,490,797
21$4,375,610$1,575,996$210,904$2,588,709
22$4,550,634$1,640,755$219,341$2,690,539
23$4,732,659$1,708,104$228,114$2,796,441
24$4,921,966$1,778,148$237,239$2,906,579
25$5,118,844$1,850,993$246,728$3,021,123
26$5,323,598$1,926,752$256,597$3,140,249
27$5,536,542$2,005,541$266,861$3,264,140
28$5,758,004$2,087,482$277,536$3,392,986
29$5,988,324$2,172,700$288,637$3,526,987
30$6,227,857$2,261,327$300,183$3,666,347
Total$112,000,000$40,150,611$5,398,400$66,450,992

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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.