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West Virginia Powerball Jackpot Annuity Payout Schedule for Jun 20, 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 $80,000,000 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, Jun 20, 2015
Jackpot:$80,000,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,426,408$485,959$92,717$847,733
2$1,483,464$507,070$96,425$879,970
3$1,542,803$529,025$100,282$913,496
4$1,604,515$551,858$104,293$948,363
5$1,668,696$575,605$108,465$984,625
6$1,735,443$600,302$112,804$1,022,338
7$1,804,861$625,986$117,316$1,061,559
8$1,877,056$652,698$122,009$1,102,349
9$1,952,138$680,479$126,889$1,144,770
10$2,030,223$709,370$131,965$1,188,888
11$2,111,432$739,418$137,243$1,234,771
12$2,195,889$770,667$142,733$1,282,490
13$2,283,725$803,166$148,442$1,332,117
14$2,375,074$836,965$154,380$1,383,729
15$2,470,077$872,116$160,555$1,437,406
16$2,568,880$908,673$166,977$1,493,230
17$2,671,635$946,693$173,656$1,551,286
18$2,778,501$986,233$180,603$1,611,665
19$2,889,641$1,027,355$187,827$1,674,459
20$3,005,226$1,070,122$195,340$1,739,765
21$3,125,435$1,114,599$203,153$1,807,683
22$3,250,453$1,160,855$211,279$1,878,318
23$3,380,471$1,208,962$219,731$1,951,778
24$3,515,690$1,258,993$228,520$2,028,177
25$3,656,317$1,311,025$237,661$2,107,632
26$3,802,570$1,365,139$247,167$2,190,264
27$3,954,673$1,421,417$257,054$2,276,202
28$4,112,860$1,479,946$267,336$2,365,578
29$4,277,374$1,540,816$278,029$2,458,529
30$4,448,469$1,604,121$289,150$2,555,197
Total$80,000,000$28,345,633$5,200,001$46,454,367

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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.