USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Mar 12, 2005

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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 $12,400,000 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, Mar 12, 2005
Jackpot:$12,400,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$221,093$47,813$8,402$164,879
2$229,937$50,643$8,738$170,557
3$239,134$53,586$9,087$176,461
4$248,700$56,647$9,451$182,602
5$258,648$60,074$9,829$188,745
6$268,994$63,695$10,222$195,077
7$279,753$67,461$10,631$201,662
8$290,944$71,378$11,056$208,510
9$302,581$75,451$11,498$215,633
10$314,685$79,687$11,958$223,040
11$327,272$84,092$12,436$230,743
12$340,363$88,674$12,934$238,755
13$353,977$93,439$13,451$247,087
14$368,136$98,395$13,989$255,752
15$382,862$103,549$14,549$264,764
16$398,176$108,909$15,131$274,137
17$414,103$114,483$15,736$283,884
18$430,668$120,281$16,365$294,021
19$447,894$126,310$17,020$304,564
20$465,810$132,581$17,701$315,529
21$484,442$139,102$18,409$326,932
22$503,820$145,884$19,145$338,791
23$523,973$152,938$19,911$351,124
24$544,932$160,273$20,707$363,951
25$566,729$167,902$21,536$377,291
26$589,398$175,837$22,397$391,165
27$612,974$184,088$23,293$405,593
28$637,493$192,893$24,225$420,376
29$662,993$202,328$25,194$435,472
30$689,513$212,140$26,201$451,171
Total$12,400,000$3,430,533$471,202$8,498,268

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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.