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Powerball Annuity Jackpot Analysis for Washington, D.C. (Dec. 15, 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 $246,000,000 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:  Dec. 15, 2018
Jackpot:$246,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,702,653$888,637$314,726$2,499,291
2$3,887,786$933,069$330,462$2,624,255
3$4,082,175$979,722$346,985$2,755,468
4$4,286,284$1,028,708$364,334$2,893,242
5$4,500,598$1,080,143$382,551$3,037,904
6$4,725,628$1,134,151$401,678$3,189,799
7$4,961,909$1,190,858$421,762$3,349,289
8$5,210,005$1,250,401$442,850$3,516,753
9$5,470,505$1,312,921$464,993$3,692,591
10$5,744,030$1,378,567$488,243$3,877,220
11$6,031,232$1,447,496$512,655$4,071,081
12$6,332,793$1,519,870$538,287$4,274,635
13$6,649,433$1,595,864$565,202$4,488,367
14$6,981,905$1,675,657$593,462$4,712,786
15$7,331,000$1,759,440$623,135$4,948,425
16$7,697,550$1,847,412$654,292$5,195,846
17$8,082,427$1,939,783$687,006$5,455,638
18$8,486,549$2,036,772$721,357$5,728,420
19$8,910,876$2,138,610$757,424$6,014,841
20$9,356,420$2,245,541$795,296$6,315,583
21$9,824,241$2,357,818$835,060$6,631,363
22$10,315,453$2,475,709$876,813$6,962,931
23$10,831,226$2,599,494$920,654$7,311,077
24$11,372,787$2,729,469$966,687$7,676,631
25$11,941,426$2,865,942$1,015,021$8,060,463
26$12,538,497$3,009,239$1,065,772$8,463,486
27$13,165,422$3,159,701$1,119,061$8,886,660
28$13,823,693$3,317,686$1,175,014$9,330,993
29$14,514,878$3,483,571$1,233,765$9,797,543
30$15,240,622$3,657,749$1,295,453$10,287,420
Total$246,000,000$59,040,000$20,910,000$166,050,000
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