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Iowa Powerball Jackpot Annuity Payout Schedule for Jun 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 $77,100,000 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, Jun 29, 2011
Jackpot:$77,100,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,374,701$466,827$78,358$829,516
2$1,429,689$487,173$81,492$861,024
3$1,486,876$508,332$84,752$893,792
4$1,546,351$530,338$88,142$927,872
5$1,608,205$553,224$91,668$963,314
6$1,672,534$577,025$95,334$1,000,174
7$1,739,435$601,779$99,148$1,038,508
8$1,809,012$627,522$103,114$1,078,376
9$1,881,373$654,296$107,238$1,119,839
10$1,956,628$682,140$111,528$1,162,960
11$2,034,893$711,098$115,989$1,207,806
12$2,116,288$741,214$120,628$1,254,446
13$2,200,940$772,536$125,454$1,302,951
14$2,288,978$805,109$130,472$1,353,396
15$2,380,537$838,986$135,691$1,405,860
16$2,475,758$874,218$141,118$1,460,422
17$2,574,789$910,860$146,763$1,517,166
18$2,677,780$948,966$152,633$1,576,180
19$2,784,891$988,598$158,739$1,637,555
20$2,896,287$1,029,814$165,088$1,701,385
21$3,012,138$1,072,679$171,692$1,767,768
22$3,132,624$1,117,259$178,560$1,836,806
23$3,257,929$1,163,621$185,702$1,908,606
24$3,388,246$1,211,839$193,130$1,983,277
25$3,523,776$1,261,985$200,855$2,060,936
26$3,664,727$1,314,137$208,889$2,141,701
27$3,811,316$1,368,375$217,245$2,225,696
28$3,963,769$1,424,782$225,935$2,313,052
29$4,122,319$1,483,446$234,972$2,403,901
30$4,287,212$1,544,456$244,371$2,498,385
Total$77,100,000$27,272,634$4,394,700$45,432,670

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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.