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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 $415,000,000 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:  Sat, May 7, 2016
Jackpot:$415,000,000
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$6,246,346$1,561,586$0$4,684,759
2$6,558,663$1,639,666$0$4,918,997
3$6,886,596$1,721,649$0$5,164,947
4$7,230,926$1,807,731$0$5,423,194
5$7,592,472$1,898,118$0$5,694,354
6$7,972,096$1,993,024$0$5,979,072
7$8,370,701$2,092,675$0$6,278,025
8$8,789,236$2,197,309$0$6,591,927
9$9,228,697$2,307,174$0$6,921,523
10$9,690,132$2,422,533$0$7,267,599
11$10,174,639$2,543,660$0$7,630,979
12$10,683,371$2,670,843$0$8,012,528
13$11,217,539$2,804,385$0$8,413,154
14$11,778,416$2,944,604$0$8,833,812
15$12,367,337$3,091,834$0$9,275,503
16$12,985,704$3,246,426$0$9,739,278
17$13,634,989$3,408,747$0$10,226,242
18$14,316,738$3,579,185$0$10,737,554
19$15,032,575$3,758,144$0$11,274,431
20$15,784,204$3,946,051$0$11,838,153
21$16,573,414$4,143,354$0$12,430,061
22$17,402,085$4,350,521$0$13,051,564
23$18,272,189$4,568,047$0$13,704,142
24$19,185,799$4,796,450$0$14,389,349
25$20,145,089$5,036,272$0$15,108,816
26$21,152,343$5,288,086$0$15,864,257
27$22,209,960$5,552,490$0$16,657,470
28$23,320,458$5,830,115$0$17,490,344
29$24,486,481$6,121,620$0$18,364,861
30$25,710,805$6,427,701$0$19,283,104
Total$415,000,001$103,750,000$0$311,250,001
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