USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Aug 24, 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 $47,900,000 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, Aug 24, 2011
Jackpot:$47,900,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$854,062$274,191$55,514$524,357
2$888,224$286,831$57,735$543,659
3$923,753$299,976$60,044$563,733
4$960,703$313,648$62,446$584,610
5$999,131$327,866$64,944$606,322
6$1,039,097$342,654$67,541$628,902
7$1,080,661$358,032$70,243$652,385
8$1,123,887$374,026$73,053$676,808
9$1,168,842$390,659$75,975$702,208
10$1,215,596$407,958$79,014$728,624
11$1,264,220$425,949$82,174$756,097
12$1,314,789$444,660$85,461$784,668
13$1,367,380$464,118$88,880$814,382
14$1,422,076$484,356$92,435$845,285
15$1,478,959$505,402$96,132$877,424
16$1,538,117$527,291$99,978$910,848
17$1,599,642$550,055$103,977$945,610
18$1,663,627$573,730$108,136$981,762
19$1,730,172$598,352$112,461$1,019,360
20$1,799,379$623,958$116,960$1,058,462
21$1,871,354$650,589$121,638$1,099,128
22$1,946,209$678,285$126,504$1,141,420
23$2,024,057$707,089$131,564$1,185,404
24$2,105,019$737,045$136,826$1,231,148
25$2,189,220$768,199$142,299$1,278,722
26$2,276,789$800,600$147,991$1,328,198
27$2,367,860$834,296$153,911$1,379,653
28$2,462,575$869,340$160,067$1,433,167
29$2,561,078$905,787$166,470$1,488,821
30$2,663,521$943,690$173,129$1,546,702
Total$47,900,000$16,468,632$3,113,502$28,317,869

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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.