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West Virginia Powerball Jackpot Annuity Payout Schedule for Dec 5, 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 $89,200,000 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, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$454,945$87,268$800,374
2$1,409,717$479,783$91,632$838,303
3$1,480,203$505,863$96,213$878,127
4$1,554,213$533,247$101,024$919,943
5$1,631,924$562,000$106,075$963,849
6$1,713,520$592,190$111,379$1,009,951
7$1,799,196$623,890$116,948$1,058,358
8$1,889,156$657,176$122,795$1,109,185
9$1,983,614$692,125$128,935$1,162,554
10$2,082,795$728,822$135,382$1,218,591
11$2,186,934$767,353$142,151$1,277,430
12$2,296,281$807,812$149,258$1,339,211
13$2,411,095$850,293$156,721$1,404,081
14$2,531,650$894,898$164,557$1,472,194
15$2,658,232$941,734$172,785$1,543,714
16$2,791,144$990,911$181,424$1,618,809
17$2,930,701$1,042,547$190,496$1,697,658
18$3,077,236$1,096,765$200,020$1,780,451
19$3,231,098$1,153,694$210,021$1,867,383
20$3,392,653$1,213,469$220,522$1,958,661
21$3,562,286$1,276,233$231,549$2,054,504
22$3,740,400$1,342,136$243,126$2,155,138
23$3,927,420$1,411,333$255,282$2,260,805
24$4,123,791$1,483,990$268,046$2,371,754
25$4,329,980$1,560,281$281,449$2,488,251
26$4,546,480$1,640,385$295,521$2,610,573
27$4,773,804$1,724,495$310,297$2,739,011
28$5,012,494$1,812,810$325,812$2,873,871
29$5,263,118$1,905,542$342,103$3,015,474
30$5,526,274$2,002,909$359,208$3,164,157
Total$89,200,000$31,749,631$5,797,999$51,652,365

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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.