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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 $189,000,000 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, Feb 17, 2016
Jackpot:$189,000,000
Federal Tax:  25%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,844,721$711,180$241,801$1,891,740
2$2,986,957$746,739$253,891$1,986,327
3$3,136,305$784,076$266,586$2,085,643
4$3,293,121$823,280$279,915$2,189,925
5$3,457,776$864,444$293,911$2,299,421
6$3,630,665$907,666$308,607$2,414,392
7$3,812,199$953,050$324,037$2,535,112
8$4,002,809$1,000,702$340,239$2,661,868
9$4,202,949$1,050,737$357,251$2,794,961
10$4,413,096$1,103,274$375,113$2,934,709
11$4,633,751$1,158,438$393,869$3,081,445
12$4,865,439$1,216,360$413,562$3,235,517
13$5,108,711$1,277,178$434,240$3,397,293
14$5,364,146$1,341,037$455,952$3,567,157
15$5,632,353$1,408,088$478,750$3,745,515
16$5,913,971$1,478,493$502,688$3,932,791
17$6,209,670$1,552,417$527,822$4,129,430
18$6,520,153$1,630,038$554,213$4,335,902
19$6,846,161$1,711,540$581,924$4,552,697
20$7,188,469$1,797,117$611,020$4,780,332
21$7,547,892$1,886,973$641,571$5,019,348
22$7,925,287$1,981,322$673,649$5,270,316
23$8,321,551$2,080,388$707,332$5,533,832
24$8,737,629$2,184,407$742,698$5,810,523
25$9,174,510$2,293,628$779,833$6,101,049
26$9,633,236$2,408,309$818,825$6,406,102
27$10,114,898$2,528,724$859,766$6,726,407
28$10,620,642$2,655,161$902,755$7,062,727
29$11,151,675$2,787,919$947,892$7,415,864
30$11,709,258$2,927,315$995,287$7,786,657
Total$189,000,000$47,250,000$16,065,000$125,685,000
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