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Iowa Powerball Jackpot Annuity Payout Schedule for Aug 31, 2011

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The tax information provided here is based on 2025 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 $76,500,000 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, Aug 31, 2011
Jackpot:$76,500,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,364,003$461,701$51,832$850,469
2$1,418,563$481,888$53,905$882,769
3$1,475,305$502,883$56,062$916,360
4$1,534,317$524,718$58,304$951,296
5$1,595,690$547,426$60,636$987,628
6$1,659,518$571,042$63,062$1,025,414
7$1,725,898$595,603$65,584$1,064,712
8$1,794,934$621,146$68,208$1,105,581
9$1,866,732$647,711$70,936$1,148,085
10$1,941,401$675,339$73,773$1,192,289
11$2,019,057$704,071$76,724$1,238,262
12$2,099,819$733,953$79,793$1,286,073
13$2,183,812$765,031$82,985$1,335,797
14$2,271,165$797,351$86,304$1,387,509
15$2,362,011$830,964$89,756$1,441,290
16$2,456,492$865,922$93,347$1,497,223
17$2,554,751$902,278$97,081$1,555,392
18$2,656,941$940,089$100,964$1,615,889
19$2,763,219$979,411$105,002$1,678,805
20$2,873,748$1,020,307$109,202$1,744,238
21$2,988,698$1,062,838$113,571$1,812,289
22$3,108,246$1,107,071$118,113$1,883,061
23$3,232,575$1,153,073$122,838$1,956,664
24$3,361,878$1,200,915$127,751$2,033,212
25$3,496,354$1,250,671$132,861$2,112,821
26$3,636,208$1,302,417$138,176$2,195,615
27$3,781,656$1,356,233$143,703$2,281,720
28$3,932,922$1,412,201$149,451$2,371,270
29$4,090,239$1,470,409$155,429$2,464,401
30$4,253,849$1,530,944$161,646$2,561,258
Total$76,500,000$27,015,606$2,906,999$46,577,392

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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.