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Powerball Annuity Jackpot Analysis for Delaware (Oct. 27, 2018 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 $687,800,000 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:  Oct. 27, 2018
Jackpot:$687,800,000
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$10,352,377$2,484,570$0$7,867,807
2$10,869,996$2,608,799$0$8,261,197
3$11,413,496$2,739,239$0$8,674,257
4$11,984,171$2,876,201$0$9,107,970
5$12,583,379$3,020,011$0$9,563,368
6$13,212,548$3,171,011$0$10,041,536
7$13,873,176$3,329,562$0$10,543,614
8$14,566,834$3,496,040$0$11,070,794
9$15,295,176$3,670,842$0$11,624,334
10$16,059,935$3,854,384$0$12,205,550
11$16,862,932$4,047,104$0$12,815,828
12$17,706,078$4,249,459$0$13,456,619
13$18,591,382$4,461,932$0$14,129,450
14$19,520,951$4,685,028$0$14,835,923
15$20,496,998$4,919,280$0$15,577,719
16$21,521,849$5,165,244$0$16,356,605
17$22,597,941$5,423,506$0$17,174,435
18$23,727,838$5,694,681$0$18,033,157
19$24,914,230$5,979,415$0$18,934,815
20$26,159,941$6,278,386$0$19,881,555
21$27,467,938$6,592,305$0$20,875,633
22$28,841,335$6,921,920$0$21,919,415
23$30,283,402$7,268,016$0$23,015,386
24$31,797,572$7,631,417$0$24,166,155
25$33,387,450$8,012,988$0$25,374,462
26$35,056,823$8,413,638$0$26,643,186
27$36,809,665$8,834,319$0$27,975,345
28$38,650,147$9,276,035$0$29,374,112
29$40,582,655$9,739,837$0$30,842,818
30$42,611,788$10,226,829$0$32,384,959
Total$687,800,001$165,072,000$0$522,728,001
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