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Iowa Powerball Jackpot Annuity Payout Schedule for Oct 22, 2011

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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 $148,600,000 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, Oct 22, 2011
Jackpot:$148,600,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,649,553$938,522$151,025$1,560,006
2$2,755,535$977,736$157,065$1,620,734
3$2,865,756$1,018,518$163,348$1,683,891
4$2,980,386$1,060,931$169,882$1,749,574
5$3,099,602$1,105,040$176,677$1,817,884
6$3,223,586$1,150,915$183,744$1,888,927
7$3,352,529$1,198,624$191,094$1,962,812
8$3,486,631$1,248,241$198,738$2,039,652
9$3,626,096$1,299,843$206,687$2,119,565
10$3,771,140$1,353,509$214,955$2,202,675
11$3,921,985$1,409,322$223,553$2,289,110
12$4,078,865$1,467,368$232,495$2,379,002
13$4,242,019$1,527,735$241,795$2,472,489
14$4,411,700$1,590,517$251,467$2,569,716
15$4,588,168$1,655,810$261,526$2,670,833
16$4,771,695$1,723,715$271,987$2,775,993
17$4,962,563$1,794,336$282,866$2,885,361
18$5,161,065$1,867,782$294,181$2,999,103
19$5,367,508$1,944,166$305,948$3,117,394
20$5,582,208$2,023,605$318,186$3,240,417
21$5,805,496$2,106,221$330,913$3,368,362
22$6,037,716$2,192,143$344,150$3,501,424
23$6,279,225$2,281,501$357,916$3,639,808
24$6,530,394$2,374,433$372,232$3,783,728
25$6,791,610$2,471,083$387,122$3,933,405
26$7,063,274$2,571,599$402,607$4,089,068
27$7,345,805$2,676,136$418,711$4,250,958
28$7,639,637$2,784,853$435,459$4,419,324
29$7,945,223$2,897,920$452,878$4,594,425
30$8,263,031$3,015,509$470,993$4,776,529
Total$148,600,000$53,727,633$8,470,200$86,402,169

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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.