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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 $422,000,000 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 27, 2016
Jackpot:$422,000,000
Federal Tax:  25%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,351,706$1,587,926$539,895$4,223,884
2$6,669,291$1,667,323$566,890$4,435,078
3$7,002,755$1,750,689$595,234$4,656,832
4$7,352,893$1,838,223$624,996$4,889,674
5$7,720,538$1,930,134$656,246$5,134,158
6$8,106,565$2,026,641$689,058$5,390,866
7$8,511,893$2,127,973$723,511$5,660,409
8$8,937,488$2,234,372$759,686$5,943,429
9$9,384,362$2,346,091$797,671$6,240,601
10$9,853,580$2,463,395$837,554$6,552,631
11$10,346,259$2,586,565$879,432$6,880,262
12$10,863,572$2,715,893$923,404$7,224,275
13$11,406,751$2,851,688$969,574$7,585,489
14$11,977,088$2,994,272$1,018,053$7,964,764
15$12,575,943$3,143,986$1,068,955$8,363,002
16$13,204,740$3,301,185$1,122,403$8,781,152
17$13,864,977$3,466,244$1,178,523$9,220,209
18$14,558,226$3,639,556$1,237,449$9,681,220
19$15,286,137$3,821,534$1,299,322$10,165,281
20$16,050,444$4,012,611$1,364,288$10,673,545
21$16,852,966$4,213,241$1,432,502$11,207,222
22$17,695,614$4,423,904$1,504,127$11,767,583
23$18,580,395$4,645,099$1,579,334$12,355,963
24$19,509,414$4,877,354$1,658,300$12,973,761
25$20,484,885$5,121,221$1,741,215$13,622,449
26$21,509,130$5,377,282$1,828,276$14,303,571
27$22,584,586$5,646,147$1,919,690$15,018,750
28$23,713,815$5,928,454$2,015,674$15,769,687
29$24,899,506$6,224,877$2,116,458$16,558,172
30$26,144,482$6,536,120$2,222,281$17,386,080
Total$422,000,001$105,500,000$35,870,000$280,630,001
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