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Iowa Powerball Jackpot Annuity Payout Schedule for Jun 6, 2012

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The tax information provided here is based on 2022 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 $179,700,000 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 6, 2012
Jackpot:$179,700,000
Federal Tax:37% marginal rate
State Tax: 6%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,204,069$1,148,460$192,244$1,863,364
2$3,332,232$1,195,881$199,934$1,936,417
3$3,465,521$1,245,198$207,931$2,012,392
4$3,604,142$1,296,487$216,248$2,091,406
5$3,748,307$1,349,829$224,898$2,173,580
6$3,898,240$1,405,304$233,894$2,259,042
7$4,054,169$1,462,998$243,250$2,347,921
8$4,216,336$1,522,999$252,980$2,440,357
9$4,384,989$1,585,401$263,099$2,536,489
10$4,560,389$1,650,299$273,623$2,636,467
11$4,742,805$1,717,793$284,568$2,740,444
12$4,932,517$1,787,986$295,951$2,848,580
13$5,129,817$1,860,987$307,789$2,961,041
14$5,335,010$1,936,909$320,101$3,078,001
15$5,548,411$2,015,867$332,905$3,199,639
16$5,770,347$2,097,983$346,221$3,326,143
17$6,001,161$2,183,384$360,070$3,457,707
18$6,241,207$2,272,202$374,472$3,594,533
19$6,490,856$2,364,572$389,451$3,736,833
20$6,750,490$2,460,636$405,029$3,884,824
21$7,020,509$2,560,543$421,231$4,038,735
22$7,301,330$2,664,447$438,080$4,198,803
23$7,593,383$2,772,507$455,603$4,365,273
24$7,897,118$2,884,889$473,827$4,538,402
25$8,213,003$3,001,766$492,780$4,718,457
26$8,541,523$3,123,319$512,491$4,905,713
27$8,883,184$3,249,733$532,991$5,100,460
28$9,238,511$3,381,204$554,311$5,302,996
29$9,608,052$3,517,934$576,483$5,513,635
30$9,992,374$3,660,133$599,542$5,732,698
Total$179,700,000$65,377,650$10,781,997$103,540,352

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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.