USA Mega

Delaware Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 1998

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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 Mega Millions 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 $25,000,000 for a ticket purchased in 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 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:

Delaware

Drawing Date:Fri, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 6.6%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$24,835$249,376
2$395,100$108,660$26,077$260,364
3$414,855$115,574$27,380$271,901
4$435,598$122,834$28,749$284,014
5$457,378$130,457$30,187$296,734
6$480,247$138,461$31,696$310,089
7$504,259$146,865$33,281$324,113
8$529,472$155,690$34,945$338,837
9$555,946$164,956$36,692$354,297
10$583,743$174,685$38,527$370,531
11$612,930$184,972$40,453$387,505
12$643,577$196,311$42,476$404,789
13$675,755$208,217$44,600$422,938
14$709,543$220,719$46,830$441,995
15$745,020$233,845$49,171$462,004
16$782,271$247,628$51,630$483,013
17$821,385$262,100$54,211$505,073
18$862,454$277,296$56,922$528,236
19$905,577$293,251$59,768$552,558
20$950,856$310,004$62,756$578,095
21$998,398$327,595$65,894$604,909
22$1,048,318$346,066$69,189$633,064
23$1,100,734$365,459$72,648$662,626
24$1,155,771$385,823$76,281$693,667
25$1,213,560$407,205$80,095$726,260
26$1,274,238$429,656$84,100$760,482
27$1,337,949$453,229$88,305$796,416
28$1,404,847$477,981$92,720$834,146
29$1,475,089$503,971$97,356$873,763
30$1,548,844$531,260$102,224$915,360
Total$25,000,000$8,022,845$1,649,998$15,327,155

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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.