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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 $314,000,000 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, Apr 30, 2016
Jackpot:$314,000,000
Federal Tax:  25%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,726,151$1,181,538$401,723$3,142,890
2$4,962,458$1,240,615$421,809$3,300,035
3$5,210,581$1,302,645$442,899$3,465,036
4$5,471,110$1,367,778$465,044$3,638,288
5$5,744,665$1,436,166$488,297$3,820,203
6$6,031,899$1,507,975$512,711$4,011,213
7$6,333,494$1,583,373$538,347$4,211,773
8$6,650,169$1,662,542$565,264$4,422,362
9$6,982,677$1,745,669$593,528$4,643,480
10$7,331,811$1,832,953$623,204$4,875,654
11$7,698,401$1,924,600$654,364$5,119,437
12$8,083,321$2,020,830$687,082$5,375,409
13$8,487,488$2,121,872$721,436$5,644,179
14$8,911,862$2,227,965$757,508$5,926,388
15$9,357,455$2,339,364$795,384$6,222,708
16$9,825,328$2,456,332$835,153$6,533,843
17$10,316,594$2,579,149$876,910$6,860,535
18$10,832,424$2,708,106$920,756$7,203,562
19$11,374,045$2,843,511$966,794$7,563,740
20$11,942,747$2,985,687$1,015,134$7,941,927
21$12,539,885$3,134,971$1,065,890$8,339,023
22$13,166,879$3,291,720$1,119,185$8,755,974
23$13,825,223$3,456,306$1,175,144$9,193,773
24$14,516,484$3,629,121$1,233,901$9,653,462
25$15,242,308$3,810,577$1,295,596$10,136,135
26$16,004,424$4,001,106$1,360,376$10,642,942
27$16,804,645$4,201,161$1,428,395$11,175,089
28$17,644,877$4,411,219$1,499,815$11,733,843
29$18,527,121$4,631,780$1,574,805$12,320,535
30$19,453,477$4,863,369$1,653,546$12,936,562
Total$314,000,001$78,500,000$26,690,000$208,810,000
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