USA Mega

Washington Powerball Jackpot Annuity Payout Schedule for Jul 29, 2024

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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 $142,600,000 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:Mon, Jul 29, 2024
Jackpot:$142,600,000
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$2,146,335$752,332$0$1,394,003
2$2,253,651$792,039$0$1,461,613
3$2,366,334$833,731$0$1,532,603
4$2,484,651$877,509$0$1,607,142
5$2,608,883$923,475$0$1,685,409
6$2,739,327$971,739$0$1,767,588
7$2,876,294$1,022,416$0$1,853,877
8$3,020,108$1,075,628$0$1,944,481
9$3,171,114$1,131,500$0$2,039,614
10$3,329,670$1,190,165$0$2,139,504
11$3,496,153$1,251,764$0$2,244,389
12$3,670,961$1,316,443$0$2,354,517
13$3,854,509$1,384,356$0$2,470,153
14$4,047,234$1,455,664$0$2,591,570
15$4,249,596$1,530,538$0$2,719,058
16$4,462,076$1,609,156$0$2,852,920
17$4,685,179$1,691,704$0$2,993,475
18$4,919,438$1,778,380$0$3,141,058
19$5,165,410$1,869,390$0$3,296,021
20$5,423,681$1,964,950$0$3,458,731
21$5,694,865$2,065,288$0$3,629,577
22$5,979,608$2,170,643$0$3,808,965
23$6,278,588$2,281,265$0$3,997,323
24$6,592,518$2,397,419$0$4,195,098
25$6,922,144$2,519,381$0$4,402,763
26$7,268,251$2,647,441$0$4,620,810
27$7,631,664$2,781,903$0$4,849,760
28$8,013,247$2,923,089$0$5,090,158
29$8,413,909$3,071,334$0$5,342,575
30$8,834,604$3,226,991$0$5,607,613
Total$142,600,000$51,507,633$0$91,092,368

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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.