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West Virginia Powerball Jackpot Annuity Payout Schedule for Jan 24, 2015

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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 $235,200,000 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:Sat, Jan 24, 2015
Jackpot:$235,200,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,193,639$1,509,834$272,587$2,411,218
2$4,361,385$1,571,900$283,490$2,505,995
3$4,535,840$1,636,449$294,830$2,604,562
4$4,717,274$1,703,579$306,623$2,707,072
5$4,905,965$1,773,395$318,888$2,813,682
6$5,102,203$1,846,003$331,643$2,924,557
7$5,306,292$1,921,516$344,909$3,039,867
8$5,518,543$2,000,049$358,705$3,159,789
9$5,739,285$2,081,723$373,054$3,284,508
10$5,968,856$2,166,665$387,976$3,414,216
11$6,207,611$2,255,004$403,495$3,549,112
12$6,455,915$2,346,876$419,634$3,689,404
13$6,714,152$2,442,424$436,420$3,835,308
14$6,982,718$2,541,793$453,877$3,987,048
15$7,262,026$2,645,138$472,032$4,144,857
16$7,552,507$2,752,616$490,913$4,308,979
17$7,854,608$2,864,393$510,550$4,479,666
18$8,168,792$2,980,641$530,971$4,657,180
19$8,495,544$3,101,539$552,210$4,841,794
20$8,835,366$3,227,273$574,299$5,033,794
21$9,188,780$3,358,036$597,271$5,233,473
22$9,556,331$3,494,030$621,162$5,441,139
23$9,938,585$3,635,464$646,008$5,657,113
24$10,336,128$3,782,555$671,848$5,881,725
25$10,749,573$3,935,530$698,722$6,115,321
26$11,179,556$4,094,623$726,671$6,358,261
27$11,626,738$4,260,081$755,738$6,610,919
28$12,091,808$4,432,157$785,968$6,873,684
29$12,575,480$4,611,115$817,406$7,146,959
30$13,078,499$4,797,233$850,102$7,431,164
Total$235,200,000$85,769,634$15,288,002$134,142,366

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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.