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Powerball Annuity Jackpot Analysis for Delaware (Jan. 16, 2019 Drawing)

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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 $112,000,000 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:  Jan. 16, 2019
Jackpot:$112,000,000
Federal Tax:  24%
State Tax:No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,685,761$404,583$0$1,281,178
2$1,770,049$424,812$0$1,345,237
3$1,858,551$446,052$0$1,412,499
4$1,951,479$468,355$0$1,483,124
5$2,049,053$491,773$0$1,557,280
6$2,151,505$516,361$0$1,635,144
7$2,259,081$542,179$0$1,716,901
8$2,372,035$569,288$0$1,802,746
9$2,490,636$597,753$0$1,892,884
10$2,615,168$627,640$0$1,987,528
11$2,745,927$659,022$0$2,086,904
12$2,883,223$691,974$0$2,191,249
13$3,027,384$726,572$0$2,300,812
14$3,178,753$762,901$0$2,415,853
15$3,337,691$801,046$0$2,536,645
16$3,504,576$841,098$0$2,663,477
17$3,679,804$883,153$0$2,796,651
18$3,863,794$927,311$0$2,936,484
19$4,056,984$973,676$0$3,083,308
20$4,259,833$1,022,360$0$3,237,473
21$4,472,825$1,073,478$0$3,399,347
22$4,696,466$1,127,152$0$3,569,314
23$4,931,290$1,183,510$0$3,747,780
24$5,177,854$1,242,685$0$3,935,169
25$5,436,747$1,304,819$0$4,131,928
26$5,708,584$1,370,060$0$4,338,524
27$5,994,013$1,438,563$0$4,555,450
28$6,293,714$1,510,491$0$4,783,223
29$6,608,400$1,586,016$0$5,022,384
30$6,938,820$1,665,317$0$5,273,503
Total$112,000,000$26,880,000$0$85,120,000
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