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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 $158,000,000 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, Aug 8, 2020
Jackpot:$158,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,378,127$570,750$202,141$1,605,236
2$2,497,033$599,288$212,248$1,685,497
3$2,621,885$629,252$222,860$1,769,772
4$2,752,979$660,715$234,003$1,858,261
5$2,890,628$693,751$245,703$1,951,174
6$3,035,159$728,438$257,989$2,048,733
7$3,186,917$764,860$270,888$2,151,169
8$3,346,263$803,103$284,432$2,258,728
9$3,513,576$843,258$298,654$2,371,664
10$3,689,255$885,421$313,587$2,490,247
11$3,873,718$929,692$329,266$2,614,760
12$4,067,404$976,177$345,729$2,745,498
13$4,270,774$1,024,986$363,016$2,882,772
14$4,484,313$1,076,235$381,167$3,026,911
15$4,708,528$1,130,047$400,225$3,178,257
16$4,943,955$1,186,549$420,236$3,337,169
17$5,191,152$1,245,877$441,248$3,504,028
18$5,450,710$1,308,170$463,310$3,679,229
19$5,723,246$1,373,579$486,476$3,863,191
20$6,009,408$1,442,258$510,800$4,056,350
21$6,309,878$1,514,371$536,340$4,259,168
22$6,625,372$1,590,089$563,157$4,472,126
23$6,956,641$1,669,594$591,314$4,695,733
24$7,304,473$1,753,073$620,880$4,930,519
25$7,669,696$1,840,727$651,924$5,177,045
26$8,053,181$1,932,764$684,520$5,435,897
27$8,455,840$2,029,402$718,746$5,707,692
28$8,878,632$2,130,872$754,684$5,993,077
29$9,322,564$2,237,415$792,418$6,292,731
30$9,788,692$2,349,286$832,039$6,607,367
Total$158,000,000$37,920,000$13,430,000$106,650,000
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