Washington DC Lottery

DCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Nov 23, 2024 is estimated to be $171 Million, with a cash option of 78.7 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 Nov 23, 2024

Draw Date	Jackpot	Cash Option
Sat Nov 23, 2024	$171,000,000	$78,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$78,700,000
Federal Tax(24%)	$18,888,000
Additional Federal Tax	$10,191,330
State Tax(10.75%)	$8,460,250
Net Lumpsum Payment	$41,160,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,573,721	-$912,607 -$276,675	$1,384,439
2	$2,702,484	-$960,249 -$290,517	$1,451,718
3	$2,837,574	-$1,010,233 -$305,039	$1,522,302
4	$2,979,504	-$1,062,747 -$320,297	$1,596,460
5	$3,128,445	-$1,117,855 -$336,308	$1,674,282
6	$3,284,910	-$1,175,747 -$353,128	$1,756,035
7	$3,449,070	-$1,236,486 -$370,775	$1,841,809
8	$3,621,609	-$1,300,326 -$389,323	$1,931,960
9	$3,802,698	-$1,367,329 -$408,790	$2,026,579
10	$3,992,850	-$1,437,685 -$429,231	$2,125,934
11	$4,192,407	-$1,511,521 -$450,684	$2,230,202
12	$4,402,053	-$1,589,090 -$473,221	$2,339,742
13	$4,622,130	-$1,670,518 -$496,879	$2,454,733
14	$4,853,322	-$1,756,060 -$521,732	$2,575,530
15	$5,095,971	-$1,845,840 -$547,817	$2,702,314
16	$5,350,761	-$1,940,112 -$575,207	$2,835,442
17	$5,618,205	-$2,039,066 -$603,957	$2,975,182
18	$5,899,158	-$2,143,019 -$634,159	$3,121,980
19	$6,194,133	-$2,252,160 -$665,869	$3,276,104
20	$6,503,814	-$2,366,742 -$699,160	$3,437,912
21	$6,829,056	-$2,487,081 -$734,124	$3,607,851
22	$7,170,543	-$2,613,431 -$770,833	$3,786,279
23	$7,528,959	-$2,746,045 -$809,363	$3,973,551
24	$7,905,501	-$2,885,366 -$849,841	$4,170,294
25	$8,300,682	-$3,031,583 -$892,323	$4,376,776
26	$8,715,870	-$3,185,202 -$936,956	$4,593,712
27	$9,151,578	-$3,346,414 -$983,795	$4,821,369
28	$9,609,174	-$3,515,725 -$1,032,986	$5,060,463
29	$10,089,684	-$3,693,513 -$1,084,641	$5,311,530
30	$10,594,134	-$3,880,160 -$1,138,869	$5,575,105