Washington DC Lottery

DCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jan 11, 2025 is estimated to be $263 Million, with a cash option of 117.7 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 Jan 11, 2025

Draw Date	Jackpot	Cash Option
Sat Jan 11, 2025	$263,000,000	$117,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$117,700,000
Federal Tax(24%)	$28,248,000
Additional Federal Tax	$15,261,330
State Tax(10.75%)	$12,652,750
Net Lumpsum Payment	$61,537,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$425,529	$2,107,941
2	$4,156,452	-$1,498,218 -$446,819	$2,211,415
3	$4,364,222	-$1,575,093 -$469,154	$2,319,975
4	$4,582,512	-$1,655,860 -$492,620	$2,434,032
5	$4,811,585	-$1,740,617 -$517,245	$2,553,723
6	$5,052,230	-$1,829,655 -$543,115	$2,679,460
7	$5,304,710	-$1,923,073 -$570,256	$2,811,381
8	$5,570,077	-$2,021,259 -$598,783	$2,950,035
9	$5,848,594	-$2,124,310 -$628,724	$3,095,560
10	$6,141,050	-$2,232,519 -$660,163	$3,248,368
11	$6,447,971	-$2,346,080 -$693,157	$3,408,734
12	$6,770,409	-$2,465,382 -$727,819	$3,577,208
13	$7,108,890	-$2,590,620 -$764,206	$3,754,064
14	$7,464,466	-$2,722,183 -$802,430	$3,939,853
15	$7,837,663	-$2,860,266 -$842,549	$4,134,848
16	$8,229,533	-$3,005,258 -$884,675	$4,339,600
17	$8,640,865	-$3,157,450 -$928,893	$4,554,522
18	$9,072,974	-$3,317,331 -$975,345	$4,780,298
19	$9,526,649	-$3,485,191 -$1,024,115	$5,017,343
20	$10,002,942	-$3,661,419 -$1,075,316	$5,266,207
21	$10,503,168	-$3,846,503 -$1,129,091	$5,527,574
22	$11,028,379	-$4,040,831 -$1,185,551	$5,801,997
23	$11,579,627	-$4,244,792 -$1,244,810	$6,090,025
24	$12,158,753	-$4,459,069 -$1,307,066	$6,392,618
25	$12,766,546	-$4,683,952 -$1,372,404	$6,710,190
26	$13,405,110	-$4,920,221 -$1,441,049	$7,043,840
27	$14,075,234	-$5,168,167 -$1,513,088	$7,393,979
28	$14,779,022	-$5,428,569 -$1,588,745	$7,761,708
29	$15,518,052	-$5,702,010 -$1,668,191	$8,147,851
30	$16,293,902	-$5,989,074 -$1,751,594	$8,553,234