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Delaware Powerball Jackpot Annuity Payout Schedule for Sep 11, 2002

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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 $87,000,000 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:Wed, Sep 11, 2002
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 6.6%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,551,219$532,139$102,380$916,700
2$1,613,267$555,097$106,476$951,695
3$1,677,798$578,973$110,735$988,090
4$1,744,910$603,804$115,164$1,025,941
5$1,814,706$629,629$119,771$1,065,307
6$1,887,295$656,487$124,561$1,106,246
7$1,962,786$684,419$129,544$1,148,824
8$2,041,298$713,468$134,726$1,193,104
9$2,122,950$743,679$140,115$1,239,156
10$2,207,868$775,099$145,719$1,287,050
11$2,296,183$807,775$151,548$1,336,859
12$2,388,030$841,759$157,610$1,388,661
13$2,483,551$877,102$163,914$1,442,535
14$2,582,893$913,858$170,471$1,498,564
15$2,686,209$952,085$177,290$1,556,834
16$2,793,657$991,841$184,381$1,617,435
17$2,905,403$1,033,187$191,757$1,680,460
18$3,021,620$1,076,187$199,427$1,746,006
19$3,142,484$1,120,907$207,404$1,814,173
20$3,268,184$1,167,416$215,700$1,885,068
21$3,398,911$1,215,785$224,328$1,958,798
22$3,534,867$1,266,089$233,301$2,035,478
23$3,676,262$1,318,405$242,633$2,115,224
24$3,823,313$1,372,813$252,339$2,198,161
25$3,976,245$1,429,398$262,432$2,284,415
26$4,135,295$1,488,247$272,929$2,374,119
27$4,300,707$1,549,449$283,847$2,467,411
28$4,472,735$1,613,100$295,201$2,564,435
29$4,651,644$1,679,296$307,009$2,665,340
30$4,837,710$1,748,141$319,289$2,770,281
Total$87,000,000$30,935,634$5,742,001$50,322,370

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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.