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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 $108,000,000 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, Jun 22, 2019
Jackpot:$108,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,625,555$390,133$138,172$1,097,250
2$1,706,833$409,640$145,081$1,152,112
3$1,792,174$430,122$152,335$1,209,718
4$1,881,783$451,628$159,952$1,270,204
5$1,975,872$474,209$167,949$1,333,714
6$2,074,666$497,920$176,347$1,400,399
7$2,178,399$522,816$185,164$1,470,419
8$2,287,319$548,957$194,422$1,543,940
9$2,401,685$576,404$204,143$1,621,137
10$2,521,769$605,225$214,350$1,702,194
11$2,647,858$635,486$225,068$1,787,304
12$2,780,251$667,260$236,321$1,876,669
13$2,919,263$700,623$248,137$1,970,503
14$3,065,226$735,654$260,544$2,069,028
15$3,218,488$772,437$273,571$2,172,479
16$3,379,412$811,059$287,250$2,281,103
17$3,548,383$851,612$301,613$2,395,158
18$3,725,802$894,192$316,693$2,514,916
19$3,912,092$938,902$332,528$2,640,662
20$4,107,697$985,847$349,154$2,772,695
21$4,313,081$1,035,140$366,612$2,911,330
22$4,528,735$1,086,896$384,943$3,056,896
23$4,755,172$1,141,241$404,190$3,209,741
24$4,992,931$1,198,303$424,399$3,370,228
25$5,242,577$1,258,219$445,619$3,538,740
26$5,504,706$1,321,129$467,900$3,715,677
27$5,779,942$1,387,186$491,295$3,901,461
28$6,068,939$1,456,545$515,860$4,096,533
29$6,372,385$1,529,373$541,653$4,301,360
30$6,691,005$1,605,841$568,735$4,516,428
Total$108,000,000$25,920,000$9,180,000$72,900,000
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