USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Sep 22, 2001

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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 $42,900,000 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 22, 2001
Jackpot:$42,900,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$764,911$241,205$43,600$480,106
2$795,508$252,526$45,344$497,638
3$827,328$264,299$47,158$515,871
4$860,421$276,544$49,044$534,834
5$894,838$289,278$51,006$554,554
6$930,631$302,521$53,046$575,064
7$967,857$316,295$55,168$596,394
8$1,006,571$330,619$57,375$618,577
9$1,046,834$345,516$59,670$641,648
10$1,088,707$361,009$62,056$665,641
11$1,132,256$377,122$64,539$690,595
12$1,177,546$393,880$67,120$716,546
13$1,224,648$411,307$69,805$743,535
14$1,273,633$429,432$72,597$771,604
15$1,324,579$448,282$75,501$800,796
16$1,377,562$467,886$78,521$831,155
17$1,432,664$488,274$81,662$862,729
18$1,489,971$509,477$84,928$895,566
19$1,549,570$531,529$88,325$929,716
20$1,611,553$554,462$91,859$965,232
21$1,676,015$578,313$95,533$1,002,169
22$1,743,055$603,118$99,354$1,040,583
23$1,812,778$628,915$103,328$1,080,534
24$1,885,289$655,745$107,461$1,122,083
25$1,960,700$683,647$111,760$1,165,293
26$2,039,128$712,665$116,230$1,210,233
27$2,120,693$742,844$120,880$1,256,970
28$2,205,521$774,231$125,715$1,305,576
29$2,293,742$806,872$130,743$1,356,126
30$2,385,492$840,820$135,973$1,408,699
Total$42,900,000$14,618,633$2,445,301$25,836,067

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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.