USA Mega

Washington, D.C. Powerball Jackpot Annuity Payout Schedule for Oct 2, 2023

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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 $1,066,200,000 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, Oct 2, 2023
Jackpot:$1,066,200,000
Federal Tax:37% marginal rate
State Tax: 10.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,047,840$5,895,889$1,725,143$8,426,809
2$16,850,232$6,192,774$1,811,400$8,846,059
3$17,692,744$6,504,503$1,901,970$9,286,271
4$18,577,381$6,831,819$1,997,068$9,748,494
5$19,506,249$7,175,500$2,096,922$10,233,828
6$20,481,562$7,536,366$2,201,768$10,743,429
7$21,505,641$7,915,275$2,311,856$11,278,510
8$22,580,923$8,313,129$2,427,449$11,840,344
9$23,709,969$8,730,876$2,548,822$12,430,271
10$24,895,467$9,169,511$2,676,263$13,049,694
11$26,140,241$9,630,077$2,810,076$13,700,088
12$27,447,253$10,113,671$2,950,580$14,383,002
13$28,819,615$10,621,445$3,098,109$15,100,061
14$30,260,596$11,154,608$3,253,014$15,852,974
15$31,773,626$11,714,429$3,415,665$16,643,532
16$33,362,307$12,302,242$3,586,448$17,473,618
17$35,030,422$12,919,444$3,765,770$18,345,208
18$36,781,944$13,567,507$3,954,059$19,260,378
19$38,621,040$14,247,973$4,151,762$20,221,306
20$40,552,093$14,962,462$4,359,350$21,230,281
21$42,579,697$15,712,676$4,577,317$22,289,704
22$44,708,682$16,500,400$4,806,183$23,402,099
23$46,944,116$17,327,511$5,046,493$24,570,113
24$49,291,322$18,195,977$5,298,817$25,796,528
25$51,755,888$19,107,866$5,563,758$27,084,264
26$54,343,683$20,065,350$5,841,946$28,436,387
27$57,060,867$21,070,709$6,134,043$29,856,115
28$59,913,910$22,126,334$6,440,745$31,346,830
29$62,909,605$23,234,742$6,762,783$32,912,081
30$66,055,086$24,398,570$7,100,922$34,555,595
Total$1,066,200,002$393,239,635$114,616,501$558,343,873

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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.