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Delaware Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2014

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The tax information provided here is based on 2022 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 $120,000,000 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 prize money, as well as deductions claimed.

State:

Delaware

Drawing Date:Fri, Oct 3, 2014
Jackpot:$120,000,000
Federal Tax:37% marginal rate
State Tax: 6.6%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$631,239$119,207$1,055,726
2$1,896,481$664,653$125,168$1,106,660
3$1,991,305$699,738$131,426$1,160,141
4$2,090,870$736,577$137,997$1,216,296
5$2,195,414$775,258$144,897$1,275,258
6$2,305,184$815,873$152,142$1,337,169
7$2,420,444$858,519$159,749$1,402,175
8$2,541,466$903,297$167,737$1,470,432
9$2,668,539$950,314$176,124$1,542,101
10$2,801,966$999,682$184,930$1,617,354
11$2,942,064$1,051,519$194,176$1,696,369
12$3,089,167$1,105,947$203,885$1,779,335
13$3,243,626$1,163,097$214,079$1,866,450
14$3,405,807$1,223,104$224,783$1,957,920
15$3,576,097$1,286,111$236,022$2,053,964
16$3,754,902$1,352,269$247,824$2,154,810
17$3,942,647$1,421,735$260,215$2,260,698
18$4,139,780$1,494,674$273,225$2,371,881
19$4,346,769$1,571,259$286,887$2,488,623
20$4,564,107$1,651,675$301,231$2,611,201
21$4,792,313$1,736,111$316,293$2,739,909
22$5,031,928$1,824,768$332,107$2,875,053
23$5,283,525$1,917,859$348,713$3,016,953
24$5,547,701$2,015,604$366,148$3,165,948
25$5,825,086$2,118,237$384,456$3,322,393
26$6,116,340$2,226,001$403,678$3,486,661
27$6,422,157$2,339,153$423,862$3,659,142
28$6,743,265$2,457,963$445,055$3,840,246
29$7,080,428$2,582,713$467,308$4,030,407
30$7,434,450$2,713,701$490,674$4,230,075
Total$120,000,000$43,288,650$7,919,998$68,791,350

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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.