USA Mega

Washington Powerball Jackpot Annuity Payout Schedule for Apr 23, 2008

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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 $126,400,000 for a ticket purchased in Washington, 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

Drawing Date:Wed, Apr 23, 2008
Jackpot:$126,400,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,253,725$792,066$0$1,461,659
2$2,343,874$825,421$0$1,518,453
3$2,437,628$860,110$0$1,577,518
4$2,535,134$896,187$0$1,638,946
5$2,636,539$933,707$0$1,702,832
6$2,742,000$972,728$0$1,769,273
7$2,851,681$1,013,310$0$1,838,371
8$2,965,748$1,055,514$0$1,910,233
9$3,084,378$1,099,407$0$1,984,970
10$3,207,753$1,145,056$0$2,062,696
11$3,336,063$1,192,531$0$2,143,532
12$3,469,505$1,241,905$0$2,227,601
13$3,608,286$1,293,253$0$2,315,032
14$3,752,617$1,346,656$0$2,405,961
15$3,902,722$1,402,195$0$2,500,527
16$4,058,831$1,459,955$0$2,598,876
17$4,221,184$1,520,026$0$2,701,158
18$4,390,031$1,582,499$0$2,807,532
19$4,565,632$1,647,472$0$2,918,161
20$4,748,258$1,715,043$0$3,033,215
21$4,938,188$1,785,317$0$3,152,871
22$5,135,715$1,858,402$0$3,277,313
23$5,341,144$1,934,411$0$3,406,733
24$5,554,790$2,013,460$0$3,541,330
25$5,776,981$2,095,671$0$3,681,311
26$6,008,061$2,181,170$0$3,826,891
27$6,248,383$2,270,090$0$3,978,294
28$6,498,318$2,362,566$0$4,135,753
29$6,758,251$2,458,741$0$4,299,511
30$7,028,581$2,558,763$0$4,469,818
Total$126,400,000$45,513,632$0$80,886,371

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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.