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Powerball Annuity Jackpot Analysis for Washington, D.C.

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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 $60,000,000 would be for a resident of Washington, D.C., 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:

Washington, D.C.

Drawing Date:  Wed, Jul 30, 2014
Jackpot:$60,000,000
Federal Tax:  25%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,069,806$267,451$90,934$711,421
2$1,112,598$278,150$94,571$739,878
3$1,157,102$289,276$98,354$769,473
4$1,203,386$300,847$102,288$800,252
5$1,251,522$312,880$106,379$832,262
6$1,301,583$325,396$110,635$865,552
7$1,353,646$338,411$115,060$900,174
8$1,407,792$351,948$119,662$936,181
9$1,464,103$366,026$124,449$973,629
10$1,522,667$380,667$129,427$1,012,574
11$1,583,574$395,894$134,604$1,053,077
12$1,646,917$411,729$139,988$1,095,200
13$1,712,794$428,198$145,587$1,139,008
14$1,781,306$445,326$151,411$1,184,568
15$1,852,558$463,139$157,467$1,231,951
16$1,926,660$481,665$163,766$1,281,229
17$2,003,726$500,932$170,317$1,332,478
18$2,083,876$520,969$177,129$1,385,777
19$2,167,231$541,808$184,215$1,441,208
20$2,253,920$563,480$191,583$1,498,857
21$2,344,077$586,019$199,247$1,558,811
22$2,437,840$609,460$207,216$1,621,163
23$2,535,353$633,838$215,505$1,686,010
24$2,636,767$659,192$224,125$1,753,450
25$2,742,238$685,560$233,090$1,823,588
26$2,851,928$712,982$242,414$1,896,532
27$2,966,005$741,501$252,110$1,972,393
28$3,084,645$771,161$262,195$2,051,289
29$3,208,031$802,008$272,683$2,133,340
30$3,336,352$834,088$283,590$2,218,674
Total$60,000,000$15,000,000$5,100,000$39,900,000
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