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Iowa Mega Millions Jackpot Annuity Payout Schedule for Jul 26, 2022

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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 $830,000,000 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, Jul 26, 2022
Jackpot:$830,000,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,492,691$4,579,316$474,722$7,438,653
2$13,117,326$4,810,431$498,458$7,808,437
3$13,773,192$5,053,101$523,381$8,196,709
4$14,461,852$5,307,905$549,550$8,604,396
5$15,184,944$5,575,449$577,028$9,032,466
6$15,944,191$5,856,371$605,879$9,481,941
7$16,741,401$6,151,339$636,173$9,953,889
8$17,578,471$6,461,055$667,982$10,449,435
9$18,457,395$6,786,256$701,381$10,969,757
10$19,380,264$7,127,718$736,450$11,516,096
11$20,349,278$7,486,253$773,273$12,089,752
12$21,366,741$7,862,715$811,936$12,692,091
13$22,435,078$8,257,999$852,533$13,324,546
14$23,556,833$8,673,048$895,160$13,988,625
15$24,734,674$9,108,850$939,918$14,685,907
16$25,971,408$9,566,441$986,914$15,418,053
17$27,269,978$10,046,912$1,036,259$16,186,807
18$28,633,477$10,551,407$1,088,072$16,993,998
19$30,065,151$11,081,126$1,142,476$17,841,549
20$31,568,408$11,637,331$1,199,600$18,731,478
21$33,146,829$12,221,347$1,259,579$19,665,902
22$34,804,170$12,834,563$1,322,558$20,647,048
23$36,544,379$13,478,440$1,388,686$21,677,252
24$38,371,597$14,154,511$1,458,121$22,758,965
25$40,290,177$14,864,386$1,531,027$23,894,765
26$42,304,687$15,609,754$1,607,578$25,087,354
27$44,419,921$16,392,391$1,687,957$26,339,573
28$46,640,916$17,214,159$1,772,355$27,654,402
29$48,972,962$18,077,016$1,860,973$29,034,973
30$51,421,611$18,983,016$1,954,021$30,484,573
Total$830,000,002$305,810,606$31,540,000$492,649,392

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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.