USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Oct 27, 2004

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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 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 $20,300,000 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:Wed, Oct 27, 2004
Jackpot:$20,300,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,951$96,230$13,754$251,967
2$376,429$101,297$14,304$260,827
3$391,486$106,567$14,876$270,042
4$407,146$112,048$15,472$279,626
5$423,431$117,748$16,090$289,593
6$440,369$123,676$16,734$299,958
7$457,983$129,841$17,403$310,739
8$476,303$136,253$18,100$321,950
9$495,355$142,921$18,823$333,610
10$515,169$149,856$19,576$345,736
11$535,776$157,069$20,359$358,348
12$557,207$164,570$21,174$371,463
13$579,495$172,371$22,021$385,104
14$602,675$180,484$22,902$399,290
15$626,782$188,930$23,818$414,035
16$651,853$198,206$24,770$428,877
17$677,927$207,853$25,761$444,313
18$705,045$217,887$26,792$460,366
19$733,246$228,321$27,863$477,062
20$762,576$239,173$28,978$494,425
21$793,079$250,460$30,137$512,483
22$824,802$262,197$31,342$531,263
23$857,795$274,404$32,596$550,794
24$892,106$287,100$33,900$571,107
25$927,791$300,303$35,256$592,232
26$964,902$314,034$36,666$614,202
27$1,003,498$328,315$38,133$637,051
28$1,043,638$343,166$39,658$660,814
29$1,085,384$358,612$41,245$685,527
30$1,128,799$374,676$42,894$711,229
Total$20,300,000$6,264,568$771,397$13,264,033

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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.