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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 $50,000,000 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:  Sat, Jul 26, 2014
Jackpot:$50,000,000
Federal Tax:  25%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$891,505$222,876$75,778$592,851
2$927,165$231,791$78,809$616,565
3$964,252$241,063$81,961$641,227
4$1,002,822$250,705$85,240$666,877
5$1,042,935$260,734$88,649$693,552
6$1,084,652$271,163$92,195$721,294
7$1,128,038$282,010$95,883$750,145
8$1,173,160$293,290$99,719$780,151
9$1,220,086$305,022$103,707$811,357
10$1,268,890$317,222$107,856$843,812
11$1,319,645$329,911$112,170$877,564
12$1,372,431$343,108$116,657$912,667
13$1,427,328$356,832$121,323$949,173
14$1,484,421$371,105$126,176$987,140
15$1,543,798$385,950$131,223$1,026,626
16$1,605,550$401,388$136,472$1,067,691
17$1,669,772$417,443$141,931$1,110,398
18$1,736,563$434,141$147,608$1,154,814
19$1,806,025$451,506$153,512$1,201,007
20$1,878,266$469,567$159,653$1,249,047
21$1,953,397$488,349$166,039$1,299,009
22$2,031,533$507,883$172,680$1,350,969
23$2,112,794$528,199$179,588$1,405,008
24$2,197,306$549,327$186,771$1,461,209
25$2,285,198$571,300$194,242$1,519,657
26$2,376,606$594,152$202,012$1,580,443
27$2,471,671$617,918$210,092$1,643,661
28$2,570,537$642,634$218,496$1,709,407
29$2,673,359$668,340$227,236$1,777,784
30$2,780,293$695,073$236,325$1,848,895
Total$50,000,000$12,500,000$4,250,000$33,250,000
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