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Iowa Powerball Jackpot Annuity Payout Schedule for Oct 29, 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 $209,200,000 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 29, 2011
Jackpot:$209,200,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,730,057$1,338,309$212,613$2,179,135
2$3,879,259$1,393,514$221,118$2,264,628
3$4,034,429$1,450,927$229,962$2,353,540
4$4,195,807$1,510,636$239,161$2,446,009
5$4,363,639$1,572,734$248,727$2,542,177
6$4,538,184$1,637,316$258,677$2,642,192
7$4,719,712$1,704,481$269,024$2,746,207
8$4,908,500$1,774,333$279,785$2,854,383
9$5,104,840$1,846,979$290,976$2,966,886
10$5,309,034$1,922,530$302,615$3,083,889
11$5,521,395$2,001,104$314,720$3,205,572
12$5,742,251$2,082,821$327,308$3,332,122
13$5,971,941$2,167,806$340,401$3,463,734
14$6,210,819$2,256,191$354,017$3,600,611
15$6,459,251$2,348,111$368,177$3,742,963
16$6,717,621$2,443,708$382,904$3,891,009
17$6,986,326$2,543,128$398,221$4,044,977
18$7,265,779$2,646,526$414,149$4,205,104
19$7,556,411$2,754,060$430,715$4,371,635
20$7,858,667$2,865,895$447,944$4,544,828
21$8,173,014$2,982,203$465,862$4,724,949
22$8,499,934$3,103,163$484,496$4,912,275
23$8,839,932$3,228,962$503,876$5,107,093
24$9,193,529$3,359,793$524,031$5,309,704
25$9,561,270$3,495,858$544,992$5,520,420
26$9,943,721$3,637,364$566,792$5,739,564
27$10,341,470$3,784,532$589,464$5,967,474
28$10,755,128$3,937,585$613,042$6,204,501
29$11,185,334$4,096,761$637,564$6,451,008
30$11,632,747$4,262,304$663,067$6,707,376
Total$209,200,000$76,149,634$11,924,400$121,125,965

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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.