USA Mega

Delaware Powerball Jackpot Annuity Payout Schedule for Nov 29, 2008

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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 $20,000,000 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, Nov 29, 2008
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 6.6%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$23,536$237,881
2$370,866$100,178$24,477$246,211
3$385,701$105,370$25,456$254,874
4$401,129$110,770$26,474$263,884
5$417,174$116,386$27,533$273,255
6$433,861$122,226$28,635$283,000
7$451,215$128,300$29,780$293,135
8$469,264$134,617$30,971$303,675
9$488,034$141,187$32,210$314,637
10$507,556$148,019$33,499$326,038
11$527,858$155,125$34,839$337,894
12$548,972$162,515$36,232$350,225
13$570,931$170,201$37,681$363,049
14$593,769$178,194$39,189$376,386
15$617,519$186,670$40,756$390,093
16$642,220$195,809$42,387$404,024
17$667,909$205,314$44,082$418,513
18$694,625$215,199$45,845$433,581
19$722,410$225,480$47,679$449,252
20$751,307$236,171$49,586$465,549
21$781,359$247,291$51,570$482,499
22$812,613$258,855$53,632$500,126
23$845,118$270,881$55,778$518,459
24$878,922$283,389$58,009$537,525
25$914,079$296,397$60,329$557,353
26$950,643$309,925$62,742$577,975
27$988,668$323,995$65,252$599,421
28$1,028,215$338,627$67,862$621,725
29$1,069,344$353,845$70,577$644,922
30$1,112,117$369,671$73,400$669,046
Total$20,000,000$6,185,792$1,319,998$12,494,207

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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.