Washington DC Lottery

DCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Sep 21, 2024 is estimated to be $195 Million, with a cash option of 99.1 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Washington DC, your state will take 10.75% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Washington DC Powerball Jackpot/Cash Option for Sat Sep 21, 2024

Draw Date	Jackpot	Cash Option
Sat Sep 21, 2024	$195,000,000	$99,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$99,100,000
Federal Tax(24%)	$23,784,000
Additional Federal Tax	$12,843,330
State Tax(10.75%)	$10,653,250
Net Lumpsum Payment	$51,819,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,934,945	-$1,046,260 -$315,507	$1,573,178
2	$3,081,780	-$1,100,589 -$331,291	$1,649,900
3	$3,235,830	-$1,157,587 -$347,852	$1,730,391
4	$3,397,680	-$1,217,472 -$365,251	$1,814,957
5	$3,567,525	-$1,280,315 -$383,509	$1,903,701
6	$3,745,950	-$1,346,332 -$402,690	$1,996,928
7	$3,933,150	-$1,415,596 -$422,814	$2,094,740
8	$4,129,905	-$1,488,395 -$443,965	$2,197,545
9	$4,336,410	-$1,564,802 -$466,164	$2,305,444
10	$4,553,250	-$1,645,033 -$489,474	$2,418,743
11	$4,780,815	-$1,729,232 -$513,938	$2,537,645
12	$5,019,885	-$1,817,688 -$539,638	$2,662,559
13	$5,270,850	-$1,910,545 -$566,616	$2,793,689
14	$5,534,490	-$2,008,092 -$594,958	$2,931,440
15	$5,811,195	-$2,110,473 -$624,703	$3,076,019
16	$6,101,745	-$2,217,976 -$655,938	$3,227,831
17	$6,406,725	-$2,330,819 -$688,723	$3,387,183
18	$6,727,110	-$2,449,361 -$723,164	$3,554,585
19	$7,063,485	-$2,573,820 -$759,325	$3,730,340
20	$7,416,630	-$2,704,483 -$797,288	$3,914,859
21	$7,787,520	-$2,841,713 -$837,158	$4,108,649
22	$8,176,935	-$2,985,796 -$879,021	$4,312,118
23	$8,585,655	-$3,137,023 -$922,958	$4,525,674
24	$9,015,045	-$3,295,897 -$969,117	$4,750,031
25	$9,465,690	-$3,462,636 -$1,017,562	$4,985,492
26	$9,939,150	-$3,637,816 -$1,068,459	$5,232,875
27	$10,436,010	-$3,821,654 -$1,121,871	$5,492,485
28	$10,957,830	-$4,014,727 -$1,177,967	$5,765,136
29	$11,505,780	-$4,217,469 -$1,236,871	$6,051,440
30	$12,081,030	-$4,430,311 -$1,298,711	$6,352,008