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West Virginia Powerball Jackpot Annuity Payout Schedule for Nov 19, 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 $92,900,000 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:Sat, Nov 19, 2022
Jackpot:$92,900,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,398,278$475,551$90,888$831,839
2$1,468,192$501,419$95,432$871,341
3$1,541,602$528,580$100,204$912,817
4$1,618,682$557,100$105,214$956,368
5$1,699,616$587,046$110,475$1,002,095
6$1,784,597$618,489$115,999$1,050,109
7$1,873,827$651,504$121,799$1,100,524
8$1,967,518$686,169$127,889$1,153,460
9$2,065,894$722,569$134,283$1,209,042
10$2,169,189$760,788$140,997$1,267,404
11$2,277,648$800,918$148,047$1,328,683
12$2,391,530$843,054$155,449$1,393,027
13$2,511,107$887,297$163,222$1,460,588
14$2,636,662$933,753$171,383$1,531,526
15$2,768,495$982,531$179,952$1,606,012
16$2,906,920$1,033,748$188,950$1,684,222
17$3,052,266$1,087,526$198,397$1,766,343
18$3,204,880$1,143,993$208,317$1,852,569
19$3,365,123$1,203,283$218,733$1,943,107
20$3,533,380$1,265,538$229,670$2,038,172
21$3,710,049$1,330,906$241,153$2,137,990
22$3,895,551$1,399,542$253,211$2,242,799
23$4,090,329$1,471,609$265,871$2,352,848
24$4,294,845$1,547,280$279,165$2,468,400
25$4,509,587$1,626,735$293,123$2,589,729
26$4,735,067$1,710,162$307,779$2,717,125
27$4,971,820$1,797,761$323,168$2,850,891
28$5,220,411$1,889,740$339,327$2,991,344
29$5,481,432$1,986,317$356,293$3,138,821
30$5,755,503$2,087,724$374,108$3,293,672
Total$92,900,000$33,118,632$6,038,498$53,742,867

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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.