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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 $125,000,000 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 30, 2020
Jackpot:$125,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,881,429$451,543$159,921$1,269,965
2$1,975,501$474,120$167,918$1,333,463
3$2,074,276$497,826$176,313$1,400,136
4$2,177,990$522,718$185,129$1,470,143
5$2,286,889$548,853$194,386$1,543,650
6$2,401,234$576,296$204,105$1,620,833
7$2,521,295$605,111$214,310$1,701,874
8$2,647,360$635,366$225,026$1,786,968
9$2,779,728$667,135$236,277$1,876,316
10$2,918,715$700,491$248,091$1,970,132
11$3,064,650$735,516$260,495$2,068,639
12$3,217,883$772,292$273,520$2,172,071
13$3,378,777$810,906$287,196$2,280,674
14$3,547,716$851,452$301,556$2,394,708
15$3,725,102$894,024$316,634$2,514,444
16$3,911,357$938,726$332,465$2,640,166
17$4,106,924$985,662$349,089$2,772,174
18$4,312,271$1,034,945$366,543$2,910,783
19$4,527,884$1,086,692$384,870$3,056,322
20$4,754,278$1,141,027$404,114$3,209,138
21$4,991,992$1,198,078$424,319$3,369,595
22$5,241,592$1,257,982$445,535$3,538,075
23$5,503,672$1,320,881$467,812$3,714,978
24$5,778,855$1,386,925$491,203$3,900,727
25$6,067,798$1,456,271$515,763$4,095,763
26$6,371,188$1,529,085$541,551$4,300,552
27$6,689,747$1,605,539$568,629$4,515,579
28$7,024,234$1,685,816$597,060$4,741,358
29$7,375,446$1,770,107$626,913$4,978,426
30$7,744,219$1,858,612$658,259$5,227,347
Total$125,000,000$30,000,000$10,625,000$84,375,000
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