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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, Sep 24, 2016
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$752,572$188,143$63,969$500,460
2$790,200$197,550$67,167$525,483
3$829,710$207,428$70,525$551,757
4$871,196$217,799$74,052$579,345
5$914,756$228,689$77,754$608,313
6$960,493$240,123$81,642$638,728
7$1,008,518$252,130$85,724$670,665
8$1,058,944$264,736$90,010$704,198
9$1,111,891$277,973$94,511$739,408
10$1,167,486$291,871$99,236$776,378
11$1,225,860$306,465$104,198$815,197
12$1,287,153$321,788$109,408$855,957
13$1,351,511$337,878$114,878$898,755
14$1,419,086$354,772$120,622$943,692
15$1,490,041$372,510$126,653$990,877
16$1,564,543$391,136$132,986$1,040,421
17$1,642,770$410,692$139,635$1,092,442
18$1,724,908$431,227$146,617$1,147,064
19$1,811,154$452,788$153,948$1,204,417
20$1,901,711$475,428$161,645$1,264,638
21$1,996,797$499,199$169,728$1,327,870
22$2,096,637$524,159$178,214$1,394,263
23$2,201,469$550,367$187,125$1,463,977
24$2,311,542$577,886$196,481$1,537,175
25$2,427,119$606,780$206,305$1,614,034
26$2,548,475$637,119$216,620$1,694,736
27$2,675,899$668,975$227,451$1,779,473
28$2,809,694$702,423$238,824$1,868,446
29$2,950,178$737,545$250,765$1,961,869
30$3,097,687$774,422$263,303$2,059,962
Total$50,000,000$12,500,000$4,250,000$33,250,000
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