USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Nov 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 $20,000,000 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:Sat, Nov 5, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$23,179$238,237
2$370,866$100,178$24,106$246,582
3$385,701$105,370$25,071$255,260
4$401,129$110,770$26,073$264,286
5$417,174$116,386$27,116$273,672
6$433,861$122,226$28,201$283,434
7$451,215$128,300$29,329$293,586
8$469,264$134,617$30,502$304,145
9$488,034$141,187$31,722$315,125
10$507,556$148,019$32,991$326,545
11$527,858$155,125$34,311$338,422
12$548,972$162,515$35,683$350,774
13$570,931$170,201$37,111$363,620
14$593,769$178,194$38,595$376,980
15$617,519$186,670$40,139$390,711
16$642,220$195,809$41,744$404,667
17$667,909$205,314$43,414$419,181
18$694,625$215,199$45,151$434,275
19$722,410$225,480$46,957$449,974
20$751,307$236,171$48,835$466,300
21$781,359$247,291$50,788$483,280
22$812,613$258,855$52,820$500,939
23$845,118$270,881$54,933$519,304
24$878,922$283,389$57,130$538,403
25$914,079$296,397$59,415$558,267
26$950,643$309,925$61,792$578,925
27$988,668$323,995$64,263$600,410
28$1,028,215$338,627$66,834$622,754
29$1,069,344$353,845$69,507$645,991
30$1,112,117$369,671$72,288$670,159
Total$20,000,000$6,185,792$1,300,000$12,514,208

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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.