USA Mega

Delaware Powerball Jackpot Annuity Payout Schedule for Nov 21, 2022

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The tax information provided here is based on 2022 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 prize money, as well as deductions claimed.

State:

Delaware

Drawing Date:Mon, Nov 21, 2022
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$301,029$79,113$19,868$202,048
2$316,080$84,381$20,861$210,838
3$331,884$89,912$21,904$220,067
4$348,478$95,720$23,000$229,758
5$365,902$101,819$24,150$239,934
6$384,197$108,222$25,357$250,618
7$403,407$114,946$26,625$261,837
8$423,578$122,005$27,956$273,616
9$444,757$129,418$29,354$285,985
10$466,994$137,201$30,822$298,972
11$490,344$145,373$32,363$312,608
12$514,861$153,954$33,981$326,926
13$540,604$162,979$35,680$341,946
14$567,635$172,980$37,464$357,191
15$596,016$183,481$39,337$373,198
16$625,817$194,507$41,304$390,006
17$657,108$206,085$43,369$407,654
18$689,963$218,241$45,538$426,184
19$724,461$231,006$47,814$445,641
20$760,685$244,408$50,205$466,071
21$798,719$258,481$52,715$487,522
22$838,655$273,257$55,351$510,046
23$880,587$288,772$58,119$533,696
24$924,617$305,063$61,025$558,529
25$970,848$322,169$64,076$584,603
26$1,019,390$340,129$67,280$611,981
27$1,070,360$358,988$70,644$640,728
28$1,123,878$378,790$74,176$670,912
29$1,180,071$399,581$77,885$702,605
30$1,239,075$421,413$81,779$735,883
Total$20,000,000$6,322,394$1,320,002$12,357,603

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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.