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Mega Millions Annuity Jackpot Analysis for Delaware

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $336,000,000 would be for a resident of Delaware, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Delaware

Drawing Date:  Fri, May 29, 2020
Jackpot:$336,000,000
Federal Tax:  24%
State Tax:No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,213,748$0$3,843,534
2$5,310,146$1,274,435$0$4,035,711
3$5,575,654$1,338,157$0$4,237,497
4$5,854,436$1,405,065$0$4,449,372
5$6,147,158$1,475,318$0$4,671,840
6$6,454,516$1,549,084$0$4,905,432
7$6,777,242$1,626,538$0$5,150,704
8$7,116,104$1,707,865$0$5,408,239
9$7,471,909$1,793,258$0$5,678,651
10$7,845,505$1,882,921$0$5,962,583
11$8,237,780$1,977,067$0$6,260,713
12$8,649,669$2,075,921$0$6,573,748
13$9,082,152$2,179,717$0$6,902,436
14$9,536,260$2,288,702$0$7,247,558
15$10,013,073$2,403,137$0$7,609,935
16$10,513,727$2,523,294$0$7,990,432
17$11,039,413$2,649,459$0$8,389,954
18$11,591,383$2,781,932$0$8,809,451
19$12,170,953$2,921,029$0$9,249,924
20$12,779,500$3,067,080$0$9,712,420
21$13,418,475$3,220,434$0$10,198,041
22$14,089,399$3,381,456$0$10,707,943
23$14,793,869$3,550,529$0$11,243,340
24$15,533,562$3,728,055$0$11,805,507
25$16,310,240$3,914,458$0$12,395,783
26$17,125,753$4,110,181$0$13,015,572
27$17,982,040$4,315,690$0$13,666,351
28$18,881,142$4,531,474$0$14,349,668
29$19,825,199$4,758,048$0$15,067,151
30$20,816,459$4,995,950$0$15,820,509
Total$336,000,001$80,640,000$0$255,360,001
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