USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Jun 6, 2012

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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 $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: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,204,069$1,143,693$182,632$1,877,744
2$3,332,232$1,191,113$189,937$1,951,181
3$3,465,521$1,240,430$197,535$2,027,556
4$3,604,142$1,291,720$205,436$2,106,985
5$3,748,307$1,345,061$213,654$2,189,592
6$3,898,240$1,400,536$222,200$2,275,504
7$4,054,169$1,458,230$231,088$2,364,851
8$4,216,336$1,518,232$240,331$2,457,773
9$4,384,989$1,580,634$249,944$2,554,411
10$4,560,389$1,645,532$259,942$2,654,915
11$4,742,805$1,713,025$270,340$2,759,439
12$4,932,517$1,783,219$281,153$2,868,144
13$5,129,817$1,856,220$292,400$2,981,198
14$5,335,010$1,932,141$304,096$3,098,773
15$5,548,411$2,011,100$316,259$3,221,051
16$5,770,347$2,093,216$328,910$3,348,221
17$6,001,161$2,178,617$342,066$3,480,477
18$6,241,207$2,267,434$355,749$3,618,024
19$6,490,856$2,359,804$369,979$3,761,072
20$6,750,490$2,455,869$384,778$3,909,843
21$7,020,509$2,555,776$400,169$4,064,564
22$7,301,330$2,659,680$416,176$4,225,474
23$7,593,383$2,767,739$432,823$4,392,821
24$7,897,118$2,880,121$450,136$4,566,861
25$8,213,003$2,996,999$468,141$4,747,863
26$8,541,523$3,118,551$486,867$4,936,105
27$8,883,184$3,244,966$506,341$5,131,877
28$9,238,511$3,376,437$526,595$5,335,479
29$9,608,052$3,513,167$547,659$5,547,226
30$9,992,374$3,655,366$569,565$5,767,442
Total$179,700,000$65,234,628$10,242,901$104,222,466

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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.