USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Sep 28, 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 $37,100,000 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, Sep 28, 2011
Jackpot:$37,100,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$661,497$202,942$37,705$420,850
2$687,957$212,732$39,214$436,011
3$715,475$222,913$40,782$451,779
4$744,094$233,502$42,413$468,178
5$773,858$244,515$44,110$485,233
6$804,812$255,968$45,874$502,969
7$837,004$267,879$47,709$521,416
8$870,485$280,267$49,618$540,600
9$905,304$293,150$51,602$560,551
10$941,516$306,549$53,666$581,301
11$979,177$320,483$55,813$602,880
12$1,018,344$334,975$58,046$625,323
13$1,059,077$350,046$60,367$648,664
14$1,101,441$365,721$62,782$672,938
15$1,145,498$382,022$65,293$698,183
16$1,191,318$398,975$67,905$724,438
17$1,238,971$416,607$70,621$751,743
18$1,288,530$434,944$73,446$780,140
19$1,340,071$454,014$76,384$809,673
20$1,393,674$473,847$79,439$840,387
21$1,449,421$494,473$82,617$872,330
22$1,507,398$515,925$85,922$905,551
23$1,567,693$538,234$89,359$940,101
24$1,630,401$561,436$92,933$976,032
25$1,695,617$585,566$96,650$1,013,401
26$1,763,442$610,661$100,516$1,052,264
27$1,833,980$636,760$104,537$1,092,683
28$1,907,339$663,903$108,718$1,134,717
29$1,983,632$692,132$113,067$1,178,434
30$2,062,978$721,489$117,590$1,223,898
Total$37,100,000$12,472,630$2,114,698$22,512,668

◄ 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.