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West Virginia Powerball Jackpot Annuity Payout Schedule for Nov 22, 2008

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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 $57,600,000 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, Nov 22, 2008
Jackpot:$57,600,000
Federal Tax:37% marginal rate
State Tax: 4.82%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,027,014$337,015$49,502$640,496
2$1,068,094$352,215$51,482$664,397
3$1,110,818$368,023$53,541$689,254
4$1,155,251$384,463$55,683$715,105
5$1,201,461$401,561$57,910$741,990
6$1,249,519$419,342$60,227$769,950
7$1,299,500$437,835$62,636$799,029
8$1,351,480$457,068$65,141$829,271
9$1,405,539$477,070$67,747$860,722
10$1,461,761$497,872$70,457$893,432
11$1,520,231$519,506$73,275$927,450
12$1,581,040$542,005$76,206$962,829
13$1,644,282$565,405$79,254$999,623
14$1,710,053$589,740$82,425$1,037,889
15$1,778,455$615,049$85,722$1,077,685
16$1,849,594$641,370$89,150$1,119,073
17$1,923,577$668,744$92,716$1,162,117
18$2,000,521$697,213$96,425$1,206,883
19$2,080,541$726,821$100,282$1,253,439
20$2,163,763$757,613$104,293$1,301,857
21$2,250,314$789,636$108,465$1,352,212
22$2,340,326$822,941$112,804$1,404,581
23$2,433,939$857,578$117,316$1,459,046
24$2,531,297$893,600$122,008$1,515,688
25$2,632,549$931,063$126,889$1,574,596
26$2,737,850$970,025$131,964$1,635,861
27$2,847,364$1,010,545$137,243$1,699,576
28$2,961,259$1,052,686$142,733$1,765,840
29$3,079,709$1,096,513$148,442$1,834,755
30$3,202,898$1,142,092$154,380$1,906,426
Total$57,600,000$20,022,609$2,776,318$34,801,072

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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.