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Delaware Mega Millions Jackpot Annuity Payout Schedule for Aug 22, 2006

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The tax information provided here is based on 2026 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 $49,000,000 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:Tue, Aug 22, 2006
Jackpot:$49,000,000
Federal Tax:37% marginal rate
State Tax: 6.6%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$737,520$228,840$48,676$460,004
2$774,396$242,484$51,110$480,802
3$813,116$256,810$53,666$502,640
4$853,772$271,853$56,349$525,570
5$896,461$287,648$59,166$549,646
6$941,284$304,232$62,125$574,927
7$988,348$321,646$65,231$601,471
8$1,037,765$339,930$68,493$629,342
9$1,089,653$359,129$71,917$658,607
10$1,144,136$379,288$75,513$689,336
11$1,201,343$400,454$79,289$721,600
12$1,261,410$422,679$83,253$755,478
13$1,324,481$446,015$87,416$791,050
14$1,390,705$470,518$91,787$828,400
15$1,460,240$496,246$96,376$867,618
16$1,533,252$523,260$101,195$908,797
17$1,609,914$551,626$106,254$952,034
18$1,690,410$581,409$111,567$997,434
19$1,774,931$612,682$117,145$1,045,104
20$1,863,677$645,518$123,003$1,095,157
21$1,956,861$679,996$129,153$1,147,712
22$2,054,704$716,198$135,610$1,202,896
23$2,157,439$754,210$142,391$1,260,838
24$2,265,311$794,122$149,511$1,321,678
25$2,378,577$836,031$156,986$1,385,560
26$2,497,506$880,034$164,835$1,452,636
27$2,622,381$926,238$173,077$1,523,066
28$2,753,500$974,752$181,731$1,597,017
29$2,891,175$1,025,692$190,818$1,674,665
30$3,035,734$1,079,179$200,358$1,756,197
Total$49,000,000$16,808,719$3,234,001$28,957,282

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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.