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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 $120,000,000 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, Sep 2, 2015
Jackpot:$120,000,000
Federal Tax:  25%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,139,612$534,903$181,867$1,422,842
2$2,225,196$556,299$189,142$1,479,756
3$2,314,204$578,551$196,707$1,538,946
4$2,406,772$601,693$204,576$1,600,504
5$2,503,043$625,761$212,759$1,664,524
6$2,603,165$650,791$221,269$1,731,105
7$2,707,292$676,823$230,120$1,800,349
8$2,815,583$703,896$239,325$1,872,363
9$2,928,207$732,052$248,898$1,947,257
10$3,045,335$761,334$258,853$2,025,148
11$3,167,148$791,787$269,208$2,106,154
12$3,293,834$823,459$279,976$2,190,400
13$3,425,588$856,397$291,175$2,278,016
14$3,562,611$890,653$302,822$2,369,136
15$3,705,116$926,279$314,935$2,463,902
16$3,853,320$963,330$327,532$2,562,458
17$4,007,453$1,001,863$340,634$2,664,956
18$4,167,751$1,041,938$354,259$2,771,554
19$4,334,461$1,083,615$368,429$2,882,417
20$4,507,840$1,126,960$383,166$2,997,713
21$4,688,153$1,172,038$398,493$3,117,622
22$4,875,679$1,218,920$414,433$3,242,327
23$5,070,706$1,267,677$431,010$3,372,020
24$5,273,535$1,318,384$448,250$3,506,901
25$5,484,476$1,371,119$466,180$3,647,177
26$5,703,855$1,425,964$484,828$3,793,064
27$5,932,009$1,483,002$504,221$3,944,786
28$6,169,290$1,542,322$524,390$4,102,578
29$6,416,061$1,604,015$545,365$4,266,681
30$6,672,704$1,668,176$567,180$4,437,348
Total$120,000,000$30,000,000$10,200,000$79,800,000
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