Washington DC Lottery

DCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 11, 2024 is estimated to be $36 Million, with a cash option of 16.8 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 May 11, 2024

Draw Date	Jackpot	Cash Option
Sat May 11, 2024	$36,000,000	$16,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$16,800,000
Federal Tax(24%)	$4,032,000
Additional Federal Tax	$2,144,330
State Tax(10.75%)	$1,806,000
Net Lumpsum Payment	$8,817,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$541,836	-$160,810 -$58,247	$322,779
2	$568,944	-$170,840 -$61,161	$336,943
3	$597,384	-$181,362 -$64,219	$351,803
4	$627,264	-$192,418 -$67,431	$367,415
5	$658,620	-$204,020 -$70,802	$383,798
6	$691,560	-$216,208 -$74,343	$401,009
7	$726,120	-$228,995 -$78,058	$419,067
8	$762,444	-$242,435 -$81,963	$438,046
9	$800,568	-$256,541 -$86,061	$457,966
10	$840,600	-$271,352 -$90,365	$478,883
11	$882,612	-$286,897 -$94,881	$500,834
12	$926,748	-$303,227 -$99,625	$523,896
13	$973,080	-$320,370 -$104,606	$548,104
14	$1,021,752	-$338,379 -$109,838	$573,535
15	$1,072,836	-$357,280 -$115,330	$600,226
16	$1,126,476	-$377,127 -$121,096	$628,253
17	$1,182,780	-$397,959 -$127,149	$657,672
18	$1,241,928	-$419,844 -$133,507	$688,577
19	$1,304,028	-$442,821 -$140,183	$721,024
20	$1,369,224	-$466,943 -$147,192	$755,089
21	$1,437,696	-$492,278 -$154,552	$790,866
22	$1,509,588	-$518,878 -$162,281	$828,429
23	$1,585,044	-$546,797 -$170,392	$867,855
24	$1,664,316	-$576,127 -$178,914	$909,275
25	$1,747,512	-$606,910 -$187,858	$952,744
26	$1,834,920	-$639,251 -$197,254	$998,415
27	$1,926,648	-$673,190 -$207,115	$1,046,343
28	$2,022,984	-$708,834 -$217,471	$1,096,679
29	$2,124,144	-$746,264 -$228,345	$1,149,535
30	$2,230,344	-$785,558 -$239,762	$1,205,024