USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Apr 23, 2008

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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 $126,400,000 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, Apr 23, 2008
Jackpot:$126,400,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,253,725$792,066$146,492$1,315,167
2$2,343,874$825,421$152,352$1,366,101
3$2,437,628$860,110$158,446$1,419,072
4$2,535,134$896,187$164,784$1,474,163
5$2,636,539$933,707$171,375$1,531,457
6$2,742,000$972,728$178,230$1,591,043
7$2,851,681$1,013,310$185,359$1,653,012
8$2,965,748$1,055,514$192,774$1,717,460
9$3,084,378$1,099,407$200,485$1,784,486
10$3,207,753$1,145,056$208,504$1,854,193
11$3,336,063$1,192,531$216,844$1,926,688
12$3,469,505$1,241,905$225,518$2,002,083
13$3,608,286$1,293,253$234,539$2,080,494
14$3,752,617$1,346,656$243,920$2,162,041
15$3,902,722$1,402,195$253,677$2,246,850
16$4,058,831$1,459,955$263,824$2,335,052
17$4,221,184$1,520,026$274,377$2,426,781
18$4,390,031$1,582,499$285,352$2,522,180
19$4,565,632$1,647,472$296,766$2,621,395
20$4,748,258$1,715,043$308,637$2,724,578
21$4,938,188$1,785,317$320,982$2,831,888
22$5,135,715$1,858,402$333,822$2,943,492
23$5,341,144$1,934,411$347,174$3,059,559
24$5,554,790$2,013,460$361,061$3,180,269
25$5,776,981$2,095,671$375,504$3,305,807
26$6,008,061$2,181,170$390,524$3,436,367
27$6,248,383$2,270,090$406,145$3,572,149
28$6,498,318$2,362,566$422,391$3,713,362
29$6,758,251$2,458,741$439,286$3,860,224
30$7,028,581$2,558,763$456,858$4,012,961
Total$126,400,000$45,513,632$8,216,002$72,670,374

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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.