USA Mega

Delaware Powerball Jackpot Annuity Payout Schedule for Dec 15, 2001

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The tax information provided here is based on 2024 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 Powerball 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 $16,000,000 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 money, as well as deductions claimed.

State:

Delaware

Drawing Date:Sat, Dec 15, 2001
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 6.6%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,282$70,223$18,829$196,230
2$296,693$74,217$19,582$202,894
3$308,561$78,371$20,365$209,825
4$320,903$82,691$21,180$217,033
5$333,739$87,183$22,027$224,529
6$347,089$91,856$22,908$232,325
7$360,972$96,715$23,824$240,433
8$375,411$101,769$24,777$248,865
9$390,428$107,024$25,768$257,635
10$406,045$112,490$26,799$266,755
11$422,286$118,175$27,871$276,241
12$439,178$124,087$28,986$286,105
13$456,745$130,236$30,145$296,364
14$475,015$136,630$31,351$307,034
15$494,015$143,280$32,605$318,130
16$513,776$150,196$33,909$329,670
17$534,327$157,389$35,266$341,672
18$555,700$164,870$36,676$354,154
19$577,928$172,650$38,143$367,135
20$601,045$180,741$39,669$380,636
21$625,087$189,470$41,256$394,361
22$650,091$198,721$42,906$408,463
23$676,094$208,343$44,622$423,129
24$703,138$218,349$46,407$438,382
25$731,263$228,755$48,263$454,245
26$760,514$239,578$50,194$470,742
27$790,935$250,834$52,202$487,899
28$822,572$262,539$54,290$505,743
29$855,475$274,713$56,461$524,300
30$889,694$287,374$58,720$543,600
Total$16,000,000$4,739,469$1,056,001$10,204,529

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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.