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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 $90,000,000 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, May 28, 2016
Jackpot:$90,000,000
Federal Tax:  25%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,354,629$338,657$115,143$900,828
2$1,422,361$355,590$120,901$945,870
3$1,493,479$373,370$126,946$993,163
4$1,568,153$392,038$133,293$1,042,821
5$1,646,560$411,640$139,958$1,094,963
6$1,728,888$432,222$146,955$1,149,711
7$1,815,333$453,833$154,303$1,207,196
8$1,906,099$476,525$162,018$1,267,556
9$2,001,404$500,351$170,119$1,330,934
10$2,101,474$525,369$178,625$1,397,481
11$2,206,548$551,637$187,557$1,467,355
12$2,316,876$579,219$196,934$1,540,722
13$2,432,719$608,180$206,781$1,617,758
14$2,554,355$638,589$217,120$1,698,646
15$2,682,073$670,518$227,976$1,783,579
16$2,816,177$704,044$239,375$1,872,758
17$2,956,986$739,246$251,344$1,966,395
18$3,104,835$776,209$263,911$2,064,715
19$3,260,077$815,019$277,107$2,167,951
20$3,423,080$855,770$290,962$2,276,348
21$3,594,234$898,559$305,510$2,390,166
22$3,773,946$943,487$320,785$2,509,674
23$3,962,643$990,661$336,825$2,635,158
24$4,160,776$1,040,194$353,666$2,766,916
25$4,368,814$1,092,204$371,349$2,905,262
26$4,587,255$1,146,814$389,917$3,050,525
27$4,816,618$1,204,154$409,413$3,203,051
28$5,057,449$1,264,362$429,883$3,363,203
29$5,310,321$1,327,580$451,377$3,531,364
30$5,575,837$1,393,959$473,946$3,707,932
Total$90,000,000$22,500,000$7,650,000$59,850,000
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