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Powerball Annuity Jackpot Analysis for Washington, D.C. (Apr. 3, 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 $54,000,000 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:  Apr. 3, 2019
Jackpot:$54,000,000
Federal Tax:  24%
State Tax:8.50%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$812,777$195,067$69,086$548,625
2$853,416$204,820$72,540$576,056
3$896,087$215,061$76,167$604,859
4$940,892$225,814$79,976$635,102
5$987,936$237,105$83,975$666,857
6$1,037,333$248,960$88,173$700,200
7$1,089,200$261,408$92,582$735,210
8$1,143,660$274,478$97,211$771,970
9$1,200,843$288,202$102,072$810,569
10$1,260,885$302,612$107,175$851,097
11$1,323,929$317,743$112,534$893,652
12$1,390,125$333,630$118,161$938,335
13$1,459,632$350,312$124,069$985,251
14$1,532,613$367,827$130,272$1,034,514
15$1,609,244$386,219$136,786$1,086,240
16$1,689,706$405,529$143,625$1,140,552
17$1,774,191$425,806$150,806$1,197,579
18$1,862,901$447,096$158,347$1,257,458
19$1,956,046$469,451$166,264$1,320,331
20$2,053,848$492,924$174,577$1,386,348
21$2,156,541$517,570$183,306$1,455,665
22$2,264,368$543,448$192,471$1,528,448
23$2,377,586$570,621$202,095$1,604,871
24$2,496,465$599,152$212,200$1,685,114
25$2,621,289$629,109$222,810$1,769,370
26$2,752,353$660,565$233,950$1,857,838
27$2,889,971$693,593$245,648$1,950,730
28$3,034,469$728,273$257,930$2,048,267
29$3,186,193$764,686$270,826$2,150,680
30$3,345,502$802,921$284,368$2,258,214
Total$54,000,000$12,960,000$4,590,000$36,450,000
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