USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Dec 3, 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 $42,200,000 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, Dec 3, 2011
Jackpot:$42,200,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,430$236,587$42,889$472,955
2$782,527$247,723$44,604$490,200
3$813,828$259,304$46,388$508,136
4$846,382$271,349$48,244$526,789
5$880,237$283,875$50,174$546,188
6$915,446$296,903$52,180$566,363
7$952,064$310,452$54,268$587,345
8$990,147$324,542$56,438$609,166
9$1,029,753$339,196$58,696$631,861
10$1,070,943$354,437$61,044$655,462
11$1,113,780$370,287$63,485$680,008
12$1,158,332$386,770$66,025$705,536
13$1,204,665$403,914$68,666$732,085
14$1,252,852$421,743$71,413$759,696
15$1,302,966$440,285$74,269$788,412
16$1,355,084$459,569$77,240$818,276
17$1,409,288$479,624$80,329$849,334
18$1,465,659$500,482$83,543$881,635
19$1,524,285$522,173$86,884$915,228
20$1,585,257$544,733$90,360$950,164
21$1,648,667$568,195$93,974$986,499
22$1,714,614$592,595$97,733$1,024,286
23$1,783,198$617,971$101,642$1,063,585
24$1,854,526$644,363$105,708$1,104,456
25$1,928,707$671,809$109,936$1,146,962
26$2,005,856$700,354$114,334$1,191,168
27$2,086,090$730,041$118,907$1,237,142
28$2,169,534$760,915$123,663$1,284,955
29$2,256,315$793,024$128,610$1,334,681
30$2,346,567$826,418$133,754$1,386,395
Total$42,200,000$14,359,633$2,405,400$25,434,968

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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.