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Iowa Mega Millions Jackpot Annuity Payout Schedule for Sep 21, 2021

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The tax information provided here is based on 2025 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $431,000,000 for a ticket purchased in Iowa, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Iowa

Drawing Date:Tue, Sep 21, 2021
Jackpot:$431,000,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,487,168$2,357,273$246,512$3,883,383
2$6,811,527$2,477,285$258,838$4,075,404
3$7,152,103$2,603,298$271,780$4,277,025
4$7,509,709$2,735,612$285,369$4,488,727
5$7,885,194$2,874,542$299,637$4,711,014
6$8,279,454$3,020,418$314,619$4,944,416
7$8,693,426$3,173,588$330,350$5,189,488
8$9,128,098$3,334,416$346,868$5,446,814
9$9,584,503$3,503,286$364,211$5,717,005
10$10,063,728$3,680,599$382,422$6,000,706
11$10,566,914$3,866,778$401,543$6,298,593
12$11,095,260$4,062,266$421,620$6,611,374
13$11,650,023$4,267,529$442,701$6,939,793
14$12,232,524$4,483,054$464,836$7,284,634
15$12,844,150$4,709,356$488,078$7,646,717
16$13,486,358$4,946,973$512,482$8,026,903
17$14,160,675$5,196,470$538,106$8,426,099
18$14,868,709$5,458,443$565,011$8,845,256
19$15,612,144$5,733,514$593,261$9,285,369
20$16,392,752$6,022,338$622,925$9,747,489
21$17,212,389$6,325,604$654,071$10,232,714
22$18,073,009$6,644,034$686,774$10,742,201
23$18,976,659$6,978,384$721,113$11,277,162
24$19,925,492$7,329,452$757,169$11,838,871
25$20,921,767$7,698,074$795,027$12,428,666
26$21,967,855$8,085,127$834,779$13,047,950
27$23,066,248$8,491,532$876,517$13,698,199
28$24,219,560$8,918,257$920,343$14,380,959
29$25,430,538$9,366,319$966,360$15,097,858
30$26,702,065$9,836,784$1,014,678$15,850,602
Total$431,000,001$158,180,605$16,378,000$256,441,391

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.