USA Mega

West Virginia Powerball Jackpot Annuity Payout Schedule for Nov 26, 2022

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The tax information provided here is based on 2022 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 $45,700,000 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 26, 2022
Jackpot:$45,700,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$687,851$217,460$44,710$425,681
2$722,243$230,185$46,946$445,112
3$758,355$243,546$49,293$465,516
4$796,273$257,576$51,758$486,939
5$836,087$272,307$54,346$509,434
6$877,891$287,775$57,063$533,053
7$921,786$304,016$59,916$557,854
8$967,875$321,069$62,912$583,894
9$1,016,269$338,974$66,057$611,237
10$1,067,082$357,775$69,360$639,946
11$1,120,436$377,516$72,828$670,091
12$1,176,458$398,244$76,470$701,744
13$1,235,281$420,009$80,293$734,979
14$1,297,045$442,862$84,308$769,875
15$1,361,897$466,857$88,523$806,517
16$1,429,992$492,052$92,949$844,990
17$1,501,492$518,507$97,597$885,388
18$1,576,566$546,284$102,477$927,805
19$1,655,394$575,451$107,601$972,343
20$1,738,164$606,076$112,981$1,019,108
21$1,825,072$638,232$118,630$1,068,211
22$1,916,326$671,996$124,561$1,119,769
23$2,012,142$707,448$130,789$1,173,905
24$2,112,749$744,672$137,329$1,230,748
25$2,218,387$783,758$144,195$1,290,434
26$2,329,306$824,798$151,405$1,353,103
27$2,445,772$867,890$158,975$1,418,906
28$2,568,060$913,137$166,924$1,487,999
29$2,696,463$960,646$175,270$1,560,547
30$2,831,286$1,010,531$184,034$1,636,722
Total$45,700,000$15,797,649$2,970,500$26,931,850

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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.