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Powerball Annuity Jackpot Analysis for Washington, D.C. (Jan. 16, 2019 Drawing)

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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 $112,000,000 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:  Jan. 16, 2019
Jackpot:$112,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,685,761$404,583$143,290$1,137,888
2$1,770,049$424,812$150,454$1,194,783
3$1,858,551$446,052$157,977$1,254,522
4$1,951,479$468,355$165,876$1,317,248
5$2,049,053$491,773$174,169$1,383,111
6$2,151,505$516,361$182,878$1,452,266
7$2,259,081$542,179$192,022$1,524,879
8$2,372,035$569,288$201,623$1,601,123
9$2,490,636$597,753$211,704$1,681,180
10$2,615,168$627,640$222,289$1,765,239
11$2,745,927$659,022$233,404$1,853,500
12$2,883,223$691,974$245,074$1,946,175
13$3,027,384$726,572$257,328$2,043,484
14$3,178,753$762,901$270,194$2,145,658
15$3,337,691$801,046$283,704$2,252,941
16$3,504,576$841,098$297,889$2,365,588
17$3,679,804$883,153$312,783$2,483,868
18$3,863,794$927,311$328,423$2,608,061
19$4,056,984$973,676$344,844$2,738,464
20$4,259,833$1,022,360$362,086$2,875,388
21$4,472,825$1,073,478$380,190$3,019,157
22$4,696,466$1,127,152$399,200$3,170,115
23$4,931,290$1,183,510$419,160$3,328,621
24$5,177,854$1,242,685$440,118$3,495,052
25$5,436,747$1,304,819$462,123$3,669,804
26$5,708,584$1,370,060$485,230$3,853,294
27$5,994,013$1,438,563$509,491$4,045,959
28$6,293,714$1,510,491$534,966$4,248,257
29$6,608,400$1,586,016$561,714$4,460,670
30$6,938,820$1,665,317$589,800$4,683,703
Total$112,000,000$26,880,000$9,520,000$75,600,000
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