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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 $304,000,000 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, Feb 23, 2019
Jackpot:$304,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,575,636$1,098,153$388,929$3,088,554
2$4,804,418$1,153,060$408,376$3,242,982
3$5,044,639$1,210,713$428,794$3,405,131
4$5,296,871$1,271,249$450,234$3,575,388
5$5,561,714$1,334,811$472,746$3,754,157
6$5,839,800$1,401,552$496,383$3,941,865
7$6,131,790$1,471,630$521,202$4,138,958
8$6,438,380$1,545,211$547,262$4,345,906
9$6,760,299$1,622,472$574,625$4,563,202
10$7,098,314$1,703,595$603,357$4,791,362
11$7,453,229$1,788,775$633,524$5,030,930
12$7,825,891$1,878,214$665,201$5,282,476
13$8,217,185$1,972,124$698,461$5,546,600
14$8,628,045$2,070,731$733,384$5,823,930
15$9,059,447$2,174,267$770,053$6,115,127
16$9,512,419$2,282,981$808,556$6,420,883
17$9,988,040$2,397,130$848,983$6,741,927
18$10,487,442$2,516,986$891,433$7,079,023
19$11,011,814$2,642,835$936,004$7,432,975
20$11,562,405$2,774,977$982,804$7,804,623
21$12,140,525$2,913,726$1,031,945$8,194,854
22$12,747,551$3,059,412$1,083,542$8,604,597
23$13,384,929$3,212,383$1,137,719$9,034,827
24$14,054,175$3,373,002$1,194,605$9,486,568
25$14,756,884$3,541,652$1,254,335$9,960,897
26$15,494,729$3,718,735$1,317,052$10,458,942
27$16,269,465$3,904,672$1,382,905$10,981,889
28$17,082,938$4,099,905$1,452,050$11,530,983
29$17,937,085$4,304,900$1,524,652$12,107,532
30$18,833,939$4,520,145$1,600,885$12,712,909
Total$304,000,001$72,960,000$25,840,000$205,200,000
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