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Iowa Powerball Jackpot Annuity Payout Schedule for Nov 22, 2008

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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 $57,600,000 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, Nov 22, 2008
Jackpot:$57,600,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,027,014$337,015$39,027$650,972
2$1,068,094$352,215$40,588$675,292
3$1,110,818$368,023$42,211$700,584
4$1,155,251$384,463$43,900$726,888
5$1,201,461$401,561$45,656$754,245
6$1,249,519$419,342$47,482$782,695
7$1,299,500$437,835$49,381$812,284
8$1,351,480$457,068$51,356$843,056
9$1,405,539$477,070$53,410$875,059
10$1,461,761$497,872$55,547$908,342
11$1,520,231$519,506$57,769$942,957
12$1,581,040$542,005$60,080$978,956
13$1,644,282$565,405$62,483$1,016,395
14$1,710,053$589,740$64,982$1,055,331
15$1,778,455$615,049$67,581$1,095,825
16$1,849,594$641,370$70,285$1,137,939
17$1,923,577$668,744$73,096$1,181,738
18$2,000,521$697,213$76,020$1,227,288
19$2,080,541$726,821$79,061$1,274,660
20$2,163,763$757,613$82,223$1,323,927
21$2,250,314$789,636$85,512$1,375,165
22$2,340,326$822,941$88,932$1,428,453
23$2,433,939$857,578$92,490$1,483,872
24$2,531,297$893,600$96,189$1,541,507
25$2,632,549$931,063$100,037$1,601,448
26$2,737,850$970,025$104,038$1,663,787
27$2,847,364$1,010,545$108,200$1,728,620
28$2,961,259$1,052,686$112,528$1,796,045
29$3,079,709$1,096,513$117,029$1,866,168
30$3,202,898$1,142,092$121,710$1,939,095
Total$57,600,000$20,022,609$2,188,803$35,388,593

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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.