USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Jun 5, 2021

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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 $285,600,000 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, Jun 5, 2021
Jackpot:$285,600,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,298,690$1,554,587$279,415$2,464,688
2$4,513,624$1,634,113$293,386$2,586,126
3$4,739,306$1,717,615$308,055$2,713,635
4$4,976,271$1,805,293$323,458$2,847,521
5$5,225,084$1,897,353$339,630$2,988,100
6$5,486,339$1,994,018$356,612$3,135,709
7$5,760,656$2,095,515$374,443$3,290,698
8$6,048,688$2,202,087$393,165$3,453,437
9$6,351,123$2,313,988$412,823$3,624,312
10$6,668,679$2,431,483$433,464$3,803,731
11$7,002,113$2,554,854$455,137$3,992,122
12$7,352,219$2,684,393$477,894$4,189,931
13$7,719,829$2,820,409$501,789$4,397,631
14$8,105,821$2,963,226$526,878$4,615,717
15$8,511,112$3,113,184$553,222$4,844,706
16$8,936,668$3,270,639$580,883$5,085,145
17$9,383,501$3,435,968$609,928$5,337,606
18$9,852,676$3,609,562$640,424$5,602,690
19$10,345,310$3,791,837$672,445$5,881,028
20$10,862,575$3,983,225$706,067$6,173,283
21$11,405,704$4,184,183$741,371$6,480,150
22$11,975,989$4,395,188$778,439$6,802,362
23$12,574,789$4,616,744$817,361$7,140,683
24$13,203,528$4,849,378$858,229$7,495,921
25$13,863,704$5,093,643$901,141$7,868,921
26$14,556,890$5,350,121$946,198$8,260,570
27$15,284,734$5,619,424$993,508$8,671,803
28$16,048,971$5,902,191$1,043,183$9,103,596
29$16,851,419$6,199,097$1,095,342$9,556,980
30$17,693,990$6,510,849$1,150,109$10,033,032
Total$285,600,001$104,594,167$18,563,999$162,441,834

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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.