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West Virginia Powerball Jackpot Annuity Payout Schedule for Apr 20, 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 $57,300,000 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 20, 2011
Jackpot:$57,300,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,021,665$336,204$66,408$619,053
2$1,062,531$351,324$69,065$642,142
3$1,105,033$367,050$71,827$666,156
4$1,149,234$383,404$74,700$691,129
5$1,195,203$400,413$77,688$717,102
6$1,243,011$418,102$80,796$744,114
7$1,292,732$436,498$84,028$772,206
8$1,344,441$455,631$87,389$801,421
9$1,398,219$475,529$90,884$831,806
10$1,454,147$496,222$94,520$863,406
11$1,512,313$517,744$98,300$896,269
12$1,572,806$540,126$102,232$930,448
13$1,635,718$563,403$106,322$965,993
14$1,701,147$587,612$110,575$1,002,960
15$1,769,193$612,789$114,998$1,041,406
16$1,839,960$638,973$119,597$1,081,390
17$1,913,559$666,205$124,381$1,122,973
18$1,990,101$694,525$129,357$1,166,219
19$2,069,705$723,979$134,531$1,211,196
20$2,152,493$754,610$139,912$1,257,971
21$2,238,593$786,467$145,509$1,306,617
22$2,328,137$819,598$151,329$1,357,210
23$2,421,262$854,055$157,382$1,409,825
24$2,518,113$889,889$163,677$1,464,546
25$2,618,837$927,158$170,224$1,521,455
26$2,723,591$965,916$177,033$1,580,641
27$2,832,534$1,006,225$184,115$1,642,194
28$2,945,836$1,048,147$191,479$1,706,209
29$3,063,669$1,091,745$199,139$1,772,785
30$3,186,216$1,137,088$207,104$1,842,024
Total$57,300,000$19,946,631$3,724,501$33,628,866

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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.