USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Sep 20, 1997

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2024 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 $19,200,000 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:Sat, Sep 20, 1997
Jackpot:$19,200,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$342,338$90,193$19,513$232,632
2$356,031$94,986$20,294$240,752
3$370,273$99,970$21,106$249,197
4$385,084$105,154$21,950$257,980
5$400,487$110,545$22,828$267,114
6$416,506$116,152$23,741$276,614
7$433,167$121,983$24,690$286,493
8$450,493$128,047$25,678$296,768
9$468,513$134,354$26,705$307,453
10$487,254$140,914$27,773$318,567
11$506,744$147,735$28,884$330,124
12$527,013$154,829$30,040$342,144
13$548,094$162,208$31,241$354,645
14$570,018$169,881$32,491$367,646
15$592,818$177,861$33,791$381,167
16$616,531$186,304$35,142$395,085
17$641,192$195,429$36,548$409,216
18$666,840$204,919$38,010$423,912
19$693,514$214,788$39,530$439,196
20$721,254$225,052$41,111$455,091
21$750,105$235,726$42,756$471,622
22$780,109$246,828$44,466$488,815
23$811,313$258,374$46,245$506,695
24$843,766$270,381$48,095$525,290
25$877,516$282,869$50,018$544,629
26$912,617$295,856$52,019$564,742
27$949,121$309,363$54,100$585,659
28$987,086$323,410$56,264$607,413
29$1,026,570$338,019$58,514$630,037
30$1,067,633$353,212$60,855$653,566
Total$19,200,000$5,895,342$1,094,398$12,210,264

◄ Back to Jackpot Analysis

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.