Washington DC Lottery

DCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jan 22, 2025 is estimated to be $31 Million, with a cash option of 13.8 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 Wed Jan 22, 2025

Draw Date	Jackpot	Cash Option
Wed Jan 22, 2025	$31,000,000	$13,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,800,000
Federal Tax(24%)	$3,312,000
Additional Federal Tax	$1,754,330
State Tax(10.75%)	$1,483,500
Net Lumpsum Payment	$7,250,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$466,581	-$132,965 -$50,157	$283,459
2	$489,924	-$141,602 -$52,667	$295,655
3	$514,414	-$150,664 -$55,300	$308,450
4	$540,144	-$160,184 -$58,065	$321,895
5	$567,145	-$170,174 -$60,968	$336,003
6	$595,510	-$180,669 -$64,017	$350,824
7	$625,270	-$191,680 -$67,217	$366,373
8	$656,549	-$203,254 -$70,579	$382,716
9	$689,378	-$215,400 -$74,108	$399,870
10	$723,850	-$228,155 -$77,814	$417,881
11	$760,027	-$241,540 -$81,703	$436,784
12	$798,033	-$255,603 -$85,789	$456,641
13	$837,930	-$270,364 -$90,077	$477,489
14	$879,842	-$285,872 -$94,583	$499,387
15	$923,831	-$302,148 -$99,312	$522,371
16	$970,021	-$319,238 -$104,277	$546,506
17	$1,018,505	-$337,177 -$109,489	$571,839
18	$1,069,438	-$356,022 -$114,965	$598,451
19	$1,122,913	-$375,808 -$120,713	$626,392
20	$1,179,054	-$396,580 -$126,748	$655,726
21	$1,238,016	-$418,396 -$133,087	$686,533
22	$1,299,923	-$441,302 -$139,742	$718,879
23	$1,364,899	-$465,343 -$146,727	$752,829
24	$1,433,161	-$490,600 -$154,065	$788,496
25	$1,504,802	-$517,107 -$161,766	$825,929
26	$1,580,070	-$544,956 -$169,858	$865,256
27	$1,659,058	-$574,182 -$178,349	$906,527
28	$1,742,014	-$604,876 -$187,267	$949,871
29	$1,829,124	-$637,106 -$196,631	$995,387
30	$1,920,574	-$670,943 -$206,462	$1,043,169