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Powerball Annuity Jackpot Analysis for Washington, D.C. (Nov. 10, 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 $92,000,000 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:  Nov. 10, 2018
Jackpot:$92,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,384,732$332,336$117,702$934,694
2$1,453,969$348,952$123,587$981,429
3$1,526,667$366,400$129,767$1,030,500
4$1,603,000$384,720$136,255$1,082,025
5$1,683,150$403,956$143,068$1,136,127
6$1,767,308$424,154$150,221$1,192,933
7$1,855,673$445,362$157,732$1,252,580
8$1,948,457$467,630$165,619$1,315,209
9$2,045,880$491,011$173,900$1,380,969
10$2,148,174$515,562$182,595$1,450,017
11$2,255,583$541,340$191,725$1,522,518
12$2,368,362$568,407$201,311$1,598,644
13$2,486,780$596,827$211,376$1,678,576
14$2,611,119$626,669$221,945$1,762,505
15$2,741,675$658,002$233,042$1,850,630
16$2,878,758$690,902$244,694$1,943,162
17$3,022,696$725,447$256,929$2,040,320
18$3,173,831$761,719$269,776$2,142,336
19$3,332,523$799,805$283,264$2,249,453
20$3,499,149$839,796$297,428$2,361,925
21$3,674,106$881,786$312,299$2,480,022
22$3,857,812$925,875$327,914$2,604,023
23$4,050,702$972,169$344,310$2,734,224
24$4,253,237$1,020,777$361,525$2,870,935
25$4,465,899$1,071,816$379,601$3,014,482
26$4,689,194$1,125,407$398,582$3,165,206
27$4,923,654$1,181,677$418,511$3,323,466
28$5,169,837$1,240,761$439,436$3,489,640
29$5,428,328$1,302,799$461,408$3,664,122
30$5,699,745$1,367,939$484,478$3,847,328
Total$92,000,000$22,080,000$7,820,000$62,100,000
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