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Powerball Annuity Jackpot Analysis for Washington, D.C. (Nov. 3, 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 $53,000,000 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. 3, 2018
Jackpot:$53,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$797,726$191,454$67,807$538,465
2$837,612$201,027$71,197$565,388
3$879,493$211,078$74,757$593,658
4$923,468$221,632$78,495$623,341
5$969,641$232,714$82,419$654,508
6$1,018,123$244,350$86,540$687,233
7$1,069,029$256,567$90,867$721,595
8$1,122,481$269,395$95,411$757,674
9$1,178,605$282,865$100,181$795,558
10$1,237,535$297,008$105,190$835,336
11$1,299,412$311,859$110,450$877,103
12$1,364,382$327,452$115,972$920,958
13$1,432,601$343,824$121,771$967,006
14$1,504,231$361,016$127,860$1,015,356
15$1,579,443$379,066$134,253$1,066,124
16$1,658,415$398,020$140,965$1,119,430
17$1,741,336$417,921$148,014$1,175,402
18$1,828,403$438,817$155,414$1,234,172
19$1,919,823$460,757$163,185$1,295,880
20$2,015,814$483,795$171,344$1,360,674
21$2,116,605$507,985$179,911$1,428,708
22$2,222,435$533,384$188,907$1,500,144
23$2,333,557$560,054$198,352$1,575,151
24$2,450,235$588,056$208,270$1,653,908
25$2,572,746$617,459$218,683$1,736,604
26$2,701,384$648,332$229,618$1,823,434
27$2,836,453$680,749$241,098$1,914,606
28$2,978,275$714,786$253,153$2,010,336
29$3,127,189$750,525$265,811$2,110,853
30$3,283,549$788,052$279,102$2,216,395
Total$53,000,000$12,720,000$4,505,000$35,775,000
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