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Powerball Annuity Jackpot Analysis for Washington, D.C. (Oct. 20, 2018 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 $476,700,000 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:  Oct. 20, 2018
Jackpot:$476,700,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,175,019$1,722,005$609,877$4,843,138
2$7,533,770$1,808,105$640,370$5,085,295
3$7,910,458$1,898,510$672,389$5,339,559
4$8,305,982$1,993,436$706,008$5,606,538
5$8,721,280$2,093,107$741,309$5,886,864
6$9,157,345$2,197,763$778,374$6,181,208
7$9,615,212$2,307,651$817,293$6,490,268
8$10,095,973$2,423,033$858,158$6,814,781
9$10,600,771$2,544,185$901,066$7,155,521
10$11,130,810$2,671,394$946,119$7,513,296
11$11,687,350$2,804,964$993,425$7,888,961
12$12,271,718$2,945,212$1,043,096$8,283,409
13$12,885,303$3,092,473$1,095,251$8,697,580
14$13,529,569$3,247,097$1,150,013$9,132,459
15$14,206,047$3,409,451$1,207,514$9,589,082
16$14,916,350$3,579,924$1,267,890$10,068,536
17$15,662,167$3,758,920$1,331,284$10,571,963
18$16,445,275$3,946,866$1,397,848$11,100,561
19$17,267,539$4,144,209$1,467,741$11,655,589
20$18,130,916$4,351,420$1,541,128$12,238,368
21$19,037,462$4,568,991$1,618,184$12,850,287
22$19,989,335$4,797,440$1,699,093$13,492,801
23$20,988,802$5,037,312$1,784,048$14,167,441
24$22,038,241$5,289,178$1,873,251$14,875,813
25$23,140,153$5,553,637$1,966,913$15,619,604
26$24,297,162$5,831,319$2,065,259$16,400,584
27$25,512,020$6,122,885$2,168,522$17,220,613
28$26,787,620$6,429,029$2,276,948$18,081,644
29$28,127,001$6,750,480$2,390,795$18,985,726
30$29,533,352$7,088,004$2,510,335$19,935,012
Total$476,700,001$114,408,000$40,519,500$321,772,501
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