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West Virginia Powerball Jackpot Annuity Payout Schedule for Oct 12, 2011

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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 $87,200,000 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 12, 2011
Jackpot:$87,200,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,554,785$533,458$101,061$920,266
2$1,616,976$556,469$105,103$955,404
3$1,681,655$580,400$109,308$991,947
4$1,748,921$605,289$113,680$1,029,953
5$1,818,878$631,173$118,227$1,069,478
6$1,891,633$658,092$122,956$1,110,585
7$1,967,299$686,088$127,874$1,153,336
8$2,045,991$715,204$132,989$1,197,797
9$2,127,830$745,485$138,309$1,244,036
10$2,212,943$776,977$143,841$1,292,125
11$2,301,461$809,728$149,595$1,342,138
12$2,393,520$843,790$155,579$1,394,151
13$2,489,260$879,214$161,802$1,448,244
14$2,588,831$916,055$168,274$1,504,502
15$2,692,384$954,370$175,005$1,563,009
16$2,800,079$994,217$182,005$1,623,857
17$2,912,082$1,035,658$189,285$1,687,139
18$3,028,566$1,078,757$196,857$1,752,952
19$3,149,708$1,123,580$204,731$1,821,398
20$3,275,697$1,170,196$212,920$1,892,581
21$3,406,725$1,218,676$221,437$1,966,612
22$3,542,994$1,269,095$230,295$2,043,604
23$3,684,713$1,321,532$239,506$2,123,675
24$3,832,102$1,376,065$249,087$2,206,950
25$3,985,386$1,432,781$259,050$2,293,555
26$4,144,801$1,491,764$269,412$2,383,625
27$4,310,593$1,553,107$280,189$2,477,298
28$4,483,017$1,616,904$291,396$2,574,717
29$4,662,338$1,683,253$303,052$2,676,033
30$4,848,831$1,752,255$315,174$2,781,402
Total$87,200,000$31,009,632$5,667,999$50,522,369

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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.