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Iowa Powerball Jackpot Annuity Payout Schedule for Jan 30, 2023

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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 Powerball 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 $613,000,000 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:Mon, Jan 30, 2023
Jackpot:$613,000,000
Federal Tax:37% marginal rate
State Tax: 6%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,226,530$3,376,771$553,592$5,296,167
2$9,687,856$3,547,462$581,271$5,559,123
3$10,172,249$3,726,687$610,335$5,835,227
4$10,680,862$3,914,874$640,852$6,125,136
5$11,214,904$4,112,470$672,894$6,429,540
6$11,775,650$4,319,945$706,539$6,749,165
7$12,364,433$4,537,795$741,866$7,084,772
8$12,982,654$4,766,537$778,959$7,437,158
9$13,631,787$5,006,716$817,907$7,807,163
10$14,313,376$5,258,904$858,803$8,195,669
11$15,029,045$5,523,702$901,743$8,603,601
12$15,780,497$5,801,739$946,830$9,031,928
13$16,569,522$6,093,678$994,171$9,481,672
14$17,397,998$6,400,214$1,043,880$9,953,904
15$18,267,898$6,722,077$1,096,074$10,449,747
16$19,181,293$7,060,033$1,150,878$10,970,382
17$20,140,357$7,414,887$1,208,421$11,517,049
18$21,147,375$7,787,484$1,268,843$12,091,049
19$22,204,744$8,178,710$1,332,285$12,693,749
20$23,314,981$8,589,498$1,398,899$13,326,584
21$24,480,730$9,020,825$1,468,844$13,991,061
22$25,704,767$9,473,719$1,542,286$14,688,762
23$26,990,005$9,949,257$1,619,400$15,421,348
24$28,339,505$10,448,572$1,700,370$16,190,563
25$29,756,480$10,972,853$1,785,389$16,998,239
26$31,244,305$11,523,348$1,874,658$17,846,299
27$32,806,520$12,101,367$1,968,391$18,736,761
28$34,446,845$12,708,288$2,066,811$19,671,747
29$36,169,188$13,345,554$2,170,151$20,653,482
30$37,977,648$14,014,685$2,278,659$21,684,304
Total$613,000,001$225,698,651$36,780,001$350,521,351

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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.