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Powerball Annuity Jackpot Analysis for Delaware

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The Powerball 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 $170,000,000 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:  Wed, Jan 25, 2017
Jackpot:$170,000,000
Federal Tax:  25%
State Tax:No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,558,744$639,686$0$1,919,058
2$2,686,681$671,670$0$2,015,011
3$2,821,015$705,254$0$2,115,761
4$2,962,066$740,517$0$2,221,550
5$3,110,169$777,542$0$2,332,627
6$3,265,678$816,419$0$2,449,258
7$3,428,962$857,240$0$2,571,721
8$3,600,410$900,102$0$2,700,307
9$3,780,430$945,108$0$2,835,323
10$3,969,452$992,363$0$2,977,089
11$4,167,924$1,041,981$0$3,125,943
12$4,376,321$1,094,080$0$3,282,240
13$4,595,137$1,148,784$0$3,446,352
14$4,824,893$1,206,223$0$3,618,670
15$5,066,138$1,266,535$0$3,799,604
16$5,319,445$1,329,861$0$3,989,584
17$5,585,417$1,396,354$0$4,189,063
18$5,864,688$1,466,172$0$4,398,516
19$6,157,922$1,539,481$0$4,618,442
20$6,465,819$1,616,455$0$4,849,364
21$6,789,109$1,697,277$0$5,091,832
22$7,128,565$1,782,141$0$5,346,424
23$7,484,993$1,871,248$0$5,613,745
24$7,859,243$1,964,811$0$5,894,432
25$8,252,205$2,063,051$0$6,189,154
26$8,664,815$2,166,204$0$6,498,612
27$9,098,056$2,274,514$0$6,823,542
28$9,552,959$2,388,240$0$7,164,719
29$10,030,607$2,507,652$0$7,522,955
30$10,532,137$2,633,034$0$7,899,103
Total$170,000,000$42,500,000$0$127,500,000
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