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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, Aug 24, 2019
Jackpot:$50,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,572$180,617$63,969$507,986
2$790,200$189,648$67,167$533,385
3$829,710$199,130$70,525$560,054
4$871,196$209,087$74,052$588,057
5$914,756$219,541$77,754$617,460
6$960,493$230,518$81,642$648,333
7$1,008,518$242,044$85,724$680,750
8$1,058,944$254,147$90,010$714,787
9$1,111,891$266,854$94,511$750,527
10$1,167,486$280,197$99,236$788,053
11$1,225,860$294,206$104,198$827,456
12$1,287,153$308,917$109,408$868,828
13$1,351,511$324,363$114,878$912,270
14$1,419,086$340,581$120,622$957,883
15$1,490,041$357,610$126,653$1,005,777
16$1,564,543$375,490$132,986$1,056,066
17$1,642,770$394,265$139,635$1,108,870
18$1,724,908$413,978$146,617$1,164,313
19$1,811,154$434,677$153,948$1,222,529
20$1,901,711$456,411$161,645$1,283,655
21$1,996,797$479,231$169,728$1,347,838
22$2,096,637$503,193$178,214$1,415,230
23$2,201,469$528,352$187,125$1,485,991
24$2,311,542$554,770$196,481$1,560,291
25$2,427,119$582,509$206,305$1,638,305
26$2,548,475$611,634$216,620$1,720,221
27$2,675,899$642,216$227,451$1,806,232
28$2,809,694$674,327$238,824$1,896,543
29$2,950,178$708,043$250,765$1,991,370
30$3,097,687$743,445$263,303$2,090,939
Total$50,000,000$12,000,000$4,250,000$33,750,000
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