USA Mega

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

YearGross PaymentFederal TaxesState TaxesNet Payment
1$534,903$157,591$34,769$342,543
2$556,299$165,079$36,159$355,060
3$578,551$172,868$37,606$368,078
4$601,693$180,967$39,110$381,616
5$625,761$189,719$40,674$395,367
6$650,791$198,981$42,301$409,509
7$676,823$208,612$43,993$424,217
8$703,896$218,629$45,753$439,513
9$732,052$229,047$47,583$455,421
10$761,334$239,881$49,487$471,966
11$791,787$251,149$51,466$489,172
12$823,459$262,867$53,525$507,066
13$856,397$275,055$55,666$525,676
14$890,653$287,729$57,892$545,031
15$926,279$300,911$60,208$565,160
16$963,330$314,620$62,616$586,094
17$1,001,863$328,877$65,121$607,865
18$1,041,938$343,705$67,726$630,507
19$1,083,615$359,125$70,435$654,055
20$1,126,960$375,163$73,252$678,545
21$1,172,038$391,842$76,182$704,014
22$1,218,920$409,188$79,230$730,502
23$1,267,677$427,228$82,399$758,050
24$1,318,384$445,990$85,695$786,699
25$1,371,119$465,502$89,123$816,494
26$1,425,964$485,794$92,688$847,482
27$1,483,002$506,899$96,395$879,709
28$1,542,322$528,847$100,251$913,224
29$1,604,015$551,673$104,261$948,081
30$1,668,176$575,413$108,431$984,332
Total$30,000,000$9,848,951$1,949,997$18,201,048

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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.