USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Mar 2, 2011

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $20,000,000 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, Mar 2, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$20,326$241,090
2$370,866$100,178$21,139$249,549
3$385,701$105,370$21,985$258,346
4$401,129$110,770$22,864$267,495
5$417,174$116,386$23,779$277,009
6$433,861$122,226$24,730$286,905
7$451,215$128,300$25,719$297,196
8$469,264$134,617$26,748$307,899
9$488,034$141,187$27,818$319,030
10$507,556$148,019$28,931$330,606
11$527,858$155,125$30,088$342,645
12$548,972$162,515$31,291$355,166
13$570,931$170,201$32,543$368,187
14$593,769$178,194$33,845$381,730
15$617,519$186,670$35,199$395,651
16$642,220$195,809$36,607$409,804
17$667,909$205,314$38,071$424,524
18$694,625$215,199$39,594$439,832
19$722,410$225,480$41,177$455,753
20$751,307$236,171$42,824$472,311
21$781,359$247,291$44,537$489,531
22$812,613$258,855$46,319$507,440
23$845,118$270,881$48,172$526,065
24$878,922$283,389$50,099$545,435
25$914,079$296,397$52,103$565,580
26$950,643$309,925$54,187$586,530
27$988,668$323,995$56,354$608,319
28$1,028,215$338,627$58,608$630,979
29$1,069,344$353,845$60,953$654,546
30$1,112,117$369,671$63,391$679,055
Total$20,000,000$6,185,792$1,140,001$12,674,208

◄ Back to Jackpot Analysis

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.