USA Mega

Washington, D.C. Powerball Jackpot Annuity Payout Schedule for May 20, 2024

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $88,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Washington, D.C.

Drawing Date:Mon, May 20, 2024
Jackpot:$88,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,324,526$448,262$142,387$733,877
2$1,390,753$472,766$149,506$768,480
3$1,460,290$498,495$156,981$804,814
4$1,533,305$525,511$164,830$842,964
5$1,609,970$553,877$173,072$883,022
6$1,690,468$583,661$181,725$925,082
7$1,774,992$614,935$190,812$969,246
8$1,863,742$647,772$200,352$1,015,617
9$1,956,929$682,251$210,370$1,064,307
10$2,054,775$718,455$220,888$1,115,432
11$2,157,514$756,468$231,933$1,169,113
12$2,265,389$796,382$243,529$1,225,478
13$2,378,659$838,292$255,706$1,284,662
14$2,497,592$882,297$268,491$1,346,804
15$2,622,471$928,502$281,916$1,412,054
16$2,753,595$977,018$296,011$1,480,566
17$2,891,275$1,027,959$310,812$1,552,503
18$3,035,839$1,081,448$326,353$1,628,038
19$3,187,630$1,137,611$342,670$1,707,349
20$3,347,012$1,196,582$359,804$1,790,626
21$3,514,363$1,258,502$377,794$1,878,067
22$3,690,081$1,323,518$396,684$1,969,879
23$3,874,585$1,391,784$416,518$2,066,283
24$4,068,314$1,463,464$437,344$2,167,506
25$4,271,730$1,538,728$459,211$2,273,791
26$4,485,316$1,617,755$482,171$2,385,390
27$4,709,582$1,700,733$506,280$2,502,569
28$4,945,061$1,787,860$531,594$2,625,607
29$5,192,314$1,879,344$558,174$2,754,796
30$5,451,930$1,975,402$586,082$2,890,446
Total$88,000,000$31,305,634$9,460,000$47,234,368

◄ Back to Jackpot Analysis

Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.