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West Virginia Powerball Jackpot Annuity Payout Schedule for Oct 25, 2023

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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 $103,400,000 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:Wed, Oct 25, 2023
Jackpot:$103,400,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,556,318$534,026$101,161$921,132
2$1,634,134$562,817$106,219$965,098
3$1,715,841$593,049$111,530$1,011,262
4$1,801,633$624,792$117,106$1,059,735
5$1,891,715$658,122$122,961$1,110,631
6$1,986,300$693,119$129,110$1,164,072
7$2,085,616$729,865$135,565$1,220,185
8$2,189,896$768,449$142,343$1,279,104
9$2,299,391$808,962$149,460$1,340,968
10$2,414,361$851,501$156,933$1,405,926
11$2,535,079$896,167$164,780$1,474,132
12$2,661,833$943,066$173,019$1,545,748
13$2,794,924$992,310$181,670$1,620,944
14$2,934,670$1,044,016$190,754$1,699,901
15$3,081,404$1,098,307$200,291$1,782,805
16$3,235,474$1,155,313$210,306$1,869,855
17$3,397,248$1,215,169$220,821$1,961,257
18$3,567,110$1,278,019$231,862$2,057,230
19$3,745,466$1,344,010$243,455$2,158,000
20$3,932,739$1,413,301$255,628$2,263,810
21$4,129,376$1,486,057$268,409$2,374,910
22$4,335,845$1,562,450$281,830$2,491,565
23$4,552,637$1,642,663$295,921$2,614,052
24$4,780,269$1,726,887$310,717$2,742,664
25$5,019,282$1,815,322$326,253$2,877,707
26$5,270,247$1,908,179$342,566$3,019,502
27$5,533,759$2,005,679$359,694$3,168,386
28$5,810,447$2,108,053$377,679$3,324,715
29$6,100,969$2,215,546$396,563$3,488,860
30$6,406,018$2,328,414$416,391$3,661,212
Total$103,400,000$37,003,630$6,720,997$59,675,368

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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.