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Iowa Mega Millions Jackpot Annuity Payout Schedule for Sep 27, 2022

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The tax information provided here is based on 2022 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 $325,000,000 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 prize money, as well as deductions claimed.

State:

Iowa

Drawing Date:Tue, Sep 27, 2022
Jackpot:$325,000,000
Federal Tax:37% marginal rate
State Tax: 6%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,891,716$1,772,890$293,503$2,825,323
2$5,136,302$1,863,387$308,178$2,964,737
3$5,393,117$1,958,408$323,587$3,111,122
4$5,662,773$2,058,181$339,766$3,264,826
5$5,945,912$2,162,942$356,755$3,426,215
6$6,243,207$2,272,942$374,592$3,595,673
7$6,555,368$2,388,441$393,322$3,773,605
8$6,883,136$2,509,715$412,988$3,960,433
9$7,227,293$2,637,053$433,638$4,156,602
10$7,588,658$2,770,758$455,319$4,362,580
11$7,968,091$2,911,149$478,085$4,578,857
12$8,366,495$3,058,558$501,990$4,805,947
13$8,784,820$3,213,338$527,089$5,044,392
14$9,224,061$3,375,858$553,444$5,294,760
15$9,685,264$3,546,503$581,116$5,557,645
16$10,169,527$3,725,680$610,172$5,833,676
17$10,678,003$3,913,816$640,680$6,123,507
18$11,211,904$4,111,359$672,714$6,427,830
19$11,772,499$4,318,780$706,350$6,747,369
20$12,361,124$4,536,571$741,667$7,082,886
21$12,979,180$4,765,252$778,751$7,435,178
22$13,628,139$5,005,366$817,688$7,805,084
23$14,309,546$5,257,487$858,573$8,193,486
24$15,025,023$5,522,214$901,501$8,601,308
25$15,776,274$5,800,176$946,576$9,029,521
26$16,565,088$6,092,038$993,905$9,479,145
27$17,393,343$6,398,492$1,043,601$9,951,250
28$18,263,009$6,720,268$1,095,781$10,446,960
29$19,176,160$7,058,134$1,150,570$10,967,456
30$20,134,968$7,412,893$1,208,098$11,513,977
Total$325,000,001$119,138,649$19,499,999$186,361,350

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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.