Washington DC Lottery

DCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Nov 13, 2024 is estimated to be $113 Million, with a cash option of 53.4 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 Wed Nov 13, 2024

Draw Date	Jackpot	Cash Option
Wed Nov 13, 2024	$113,000,000	$53,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$53,400,000
Federal Tax(24%)	$12,816,000
Additional Federal Tax	$6,902,330
State Tax(10.75%)	$5,740,500
Net Lumpsum Payment	$27,941,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,700,763	-$589,613 -$182,832	$928,318
2	$1,785,852	-$621,096 -$191,979	$972,777
3	$1,875,122	-$654,126 -$201,576	$1,019,420
4	$1,968,912	-$688,828 -$211,658	$1,068,426
5	$2,067,335	-$725,244 -$222,239	$1,119,852
6	$2,170,730	-$763,500 -$233,353	$1,173,877
7	$2,279,210	-$803,638 -$245,015	$1,230,557
8	$2,393,227	-$845,824 -$257,272	$1,290,131
9	$2,512,894	-$890,101 -$270,136	$1,352,657
10	$2,638,550	-$936,594 -$283,644	$1,418,312
11	$2,770,421	-$985,386 -$297,820	$1,487,215
12	$2,908,959	-$1,036,645 -$312,713	$1,559,601
13	$3,054,390	-$1,090,455 -$328,347	$1,635,588
14	$3,207,166	-$1,146,982 -$344,770	$1,715,414
15	$3,367,513	-$1,206,310 -$362,008	$1,799,195
16	$3,535,883	-$1,268,607 -$380,107	$1,887,169
17	$3,712,615	-$1,333,998 -$399,106	$1,979,511
18	$3,898,274	-$1,402,692 -$419,064	$2,076,518
19	$4,093,199	-$1,474,814 -$440,019	$2,178,366
20	$4,297,842	-$1,550,532 -$462,018	$2,285,292
21	$4,512,768	-$1,630,055 -$485,123	$2,397,590
22	$4,738,429	-$1,713,549 -$509,381	$2,515,499
23	$4,975,277	-$1,801,183 -$534,842	$2,639,252
24	$5,224,103	-$1,893,248 -$561,591	$2,769,264
25	$5,485,246	-$1,989,871 -$589,664	$2,905,711
26	$5,759,610	-$2,091,386 -$619,158	$3,049,066
27	$6,047,534	-$2,197,918 -$650,110	$3,199,506
28	$6,349,922	-$2,309,802 -$682,617	$3,357,503
29	$6,667,452	-$2,427,288 -$716,751	$3,523,413
30	$7,000,802	-$2,550,627 -$752,586	$3,697,589