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West Virginia Powerball Jackpot Annuity Payout Schedule for Nov 14, 2022

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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 $62,900,000 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:Mon, Nov 14, 2022
Jackpot:$62,900,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$946,735$308,480$61,538$576,718
2$994,072$325,994$64,615$603,463
3$1,043,776$344,385$67,845$631,545
4$1,095,964$363,695$71,238$661,032
5$1,150,763$383,970$74,800$691,993
6$1,208,301$405,259$78,540$724,502
7$1,268,716$427,613$82,467$758,637
8$1,332,152$451,084$86,590$794,478
9$1,398,759$475,729$90,919$832,111
10$1,468,697$501,606$95,465$871,626
11$1,542,132$528,777$100,239$913,117
12$1,619,239$557,306$105,251$956,682
13$1,700,201$587,262$110,513$1,002,426
14$1,785,211$618,716$116,039$1,050,456
15$1,874,471$651,742$121,841$1,100,888
16$1,968,195$686,420$127,933$1,153,842
17$2,066,604$722,831$134,329$1,209,444
18$2,169,935$761,064$141,046$1,267,825
19$2,278,431$801,207$148,098$1,329,126
20$2,392,353$843,358$155,503$1,393,492
21$2,511,971$887,617$163,278$1,461,076
22$2,637,569$934,088$171,442$1,532,039
23$2,769,447$982,883$180,014$1,606,550
24$2,907,920$1,034,118$189,015$1,684,787
25$3,053,316$1,087,915$198,466$1,766,936
26$3,205,982$1,144,401$208,389$1,853,192
27$3,366,281$1,203,712$218,808$1,943,761
28$3,534,595$1,265,988$229,749$2,038,858
29$3,711,324$1,331,378$241,236$2,138,711
30$3,896,891$1,400,037$253,298$2,243,556
Total$62,900,000$22,018,635$4,088,504$36,792,869

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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.