USA Mega

Washington, D.C. Powerball Jackpot Annuity Payout Schedule for Aug 14, 2002

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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 $32,000,000 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:Wed, Aug 14, 2002
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$570,563$170,072$61,336$339,156
2$593,386$178,060$63,789$351,537
3$617,121$186,523$66,341$364,258
4$641,806$195,656$68,994$377,156
5$667,478$205,155$71,754$390,570
6$694,177$215,033$74,624$404,520
7$721,944$225,307$77,609$419,028
8$750,822$235,992$80,713$434,117
9$780,855$247,104$83,942$449,809
10$812,089$258,661$87,300$466,129
11$844,573$270,680$90,792$483,102
12$878,356$283,179$94,423$500,753
13$913,490$296,179$98,200$519,111
14$950,030$309,699$102,128$538,203
15$988,031$323,759$106,213$558,058
16$1,027,552$338,382$110,462$578,708
17$1,068,654$353,590$114,880$600,184
18$1,111,400$369,406$119,476$622,519
19$1,155,856$385,855$124,255$645,747
20$1,202,091$402,961$129,225$669,905
21$1,250,174$420,752$134,394$695,028
22$1,300,181$439,255$139,769$721,157
23$1,352,188$458,497$145,360$748,331
24$1,406,276$478,510$151,175$776,591
25$1,462,527$499,323$157,222$805,983
26$1,521,028$520,968$163,511$836,549
27$1,581,869$543,479$170,051$868,339
28$1,645,144$566,891$176,853$901,400
29$1,710,950$591,239$183,927$935,783
30$1,779,388$616,561$191,284$971,542
Total$32,000,000$10,586,728$3,440,002$17,973,273

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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.