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West Virginia Powerball Jackpot Annuity Payout Schedule for Oct 5, 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 $60,200,000 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 5, 2011
Jackpot:$60,200,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,073,372$355,335$69,769$648,267
2$1,116,307$371,221$72,560$672,526
3$1,160,959$387,743$75,462$697,754
4$1,207,397$404,925$78,481$723,992
5$1,255,693$422,794$81,620$751,279
6$1,305,921$441,379$84,885$779,658
7$1,358,158$460,706$88,280$809,172
8$1,412,484$480,807$91,811$839,866
9$1,468,984$501,712$95,484$871,788
10$1,527,743$523,453$99,303$904,987
11$1,588,853$546,063$103,275$939,514
12$1,652,407$569,578$107,406$975,422
13$1,718,503$594,034$111,703$1,012,767
14$1,787,243$619,468$116,171$1,051,605
15$1,858,733$645,919$120,818$1,091,996
16$1,933,082$673,428$125,650$1,134,004
17$2,010,406$702,038$130,676$1,177,691
18$2,090,822$731,792$135,903$1,223,127
19$2,174,455$762,736$141,340$1,270,379
20$2,261,433$794,918$146,993$1,319,522
21$2,351,890$828,387$152,873$1,370,630
22$2,445,966$863,195$158,988$1,423,783
23$2,543,804$899,395$165,347$1,479,062
24$2,645,557$937,044$171,961$1,536,552
25$2,751,379$976,198$178,840$1,596,341
26$2,861,434$1,016,918$185,993$1,658,522
27$2,975,891$1,059,268$193,433$1,723,191
28$3,094,927$1,103,311$201,170$1,790,446
29$3,218,724$1,149,116$209,217$1,860,391
30$3,347,473$1,196,753$217,586$1,933,135
Total$60,200,000$21,019,634$3,912,998$35,267,369

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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.