USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Nov 7, 2020

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The tax information provided here is based on 2021 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 $146,600,000 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 prize money, as well as deductions claimed.

State:

West Virginia

Drawing Date:Sat, Nov 7, 2020
Jackpot:$146,600,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,206,540$780,492$143,425$1,282,623
2$2,316,867$821,313$150,596$1,344,958
3$2,432,711$864,175$158,126$1,410,409
4$2,554,346$909,180$166,033$1,479,133
5$2,682,064$956,436$174,334$1,551,294
6$2,816,167$1,006,054$183,051$1,627,062
7$2,956,975$1,058,153$192,203$1,706,619
8$3,104,824$1,112,857$201,814$1,790,153
9$3,260,065$1,170,296$211,904$1,877,865
10$3,423,068$1,230,608$222,499$1,969,961
11$3,594,222$1,293,934$233,624$2,066,663
12$3,773,933$1,360,427$245,306$2,168,200
13$3,962,630$1,430,245$257,571$2,274,813
14$4,160,761$1,503,554$270,449$2,386,758
15$4,368,799$1,580,528$283,972$2,504,299
16$4,587,239$1,661,351$298,171$2,627,718
17$4,816,601$1,746,215$313,079$2,757,307
18$5,057,431$1,835,322$328,733$2,893,376
19$5,310,303$1,928,884$345,170$3,036,249
20$5,575,818$2,027,125$362,428$3,186,265
21$5,854,609$2,130,277$380,550$3,343,782
22$6,147,339$2,238,588$399,577$3,509,174
23$6,454,706$2,352,313$419,556$3,682,837
24$6,777,441$2,471,725$440,534$3,865,182
25$7,116,313$2,597,108$462,560$4,056,645
26$7,472,129$2,728,760$485,688$4,257,681
27$7,845,735$2,866,994$509,973$4,468,768
28$8,238,022$3,012,140$535,471$4,690,410
29$8,649,923$3,164,544$562,245$4,923,134
30$9,082,419$3,324,567$590,357$5,167,495
Total$146,600,000$53,164,165$9,528,999$83,906,833

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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.