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Iowa Powerball Jackpot Annuity Payout Schedule for Nov 2, 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 $254,200,000 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:Wed, Nov 2, 2011
Jackpot:$254,200,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,532,411$1,635,180$258,347$2,638,884
2$4,713,708$1,702,260$268,681$2,742,767
3$4,902,256$1,772,022$279,429$2,850,805
4$5,098,346$1,844,576$290,606$2,963,165
5$5,302,280$1,920,031$302,230$3,080,019
6$5,514,371$1,998,505$314,319$3,201,547
7$5,734,946$2,080,118$326,892$3,327,936
8$5,964,344$2,164,995$339,968$3,459,381
9$6,202,918$2,253,267$353,566$3,596,084
10$6,451,034$2,345,070$367,709$3,738,255
11$6,709,076$2,440,546$382,417$3,886,113
12$6,977,439$2,539,840$397,714$4,039,885
13$7,256,536$2,643,106$413,623$4,199,808
14$7,546,798$2,750,503$430,167$4,366,127
15$7,848,670$2,862,196$447,374$4,539,100
16$8,162,617$2,978,356$465,269$4,718,992
17$8,489,121$3,099,163$483,880$4,906,079
18$8,828,686$3,224,802$503,235$5,100,649
19$9,181,833$3,355,466$523,365$5,303,003
20$9,549,107$3,491,357$544,299$5,513,450
21$9,931,071$3,632,684$566,071$5,732,316
22$10,328,314$3,779,664$588,714$5,959,936
23$10,741,446$3,932,523$612,262$6,196,661
24$11,171,104$4,091,496$636,753$6,442,855
25$11,617,949$4,256,829$662,223$6,698,897
26$12,082,666$4,428,774$688,712$6,965,180
27$12,565,973$4,607,598$716,260$7,242,115
28$13,068,612$4,793,574$744,911$7,530,127
29$13,591,357$4,986,990$774,707$7,829,660
30$14,135,011$5,188,142$805,696$8,141,173
Total$254,200,000$92,799,633$14,489,399$146,910,969

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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.