USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for May 25, 2013

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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 $50,000,000 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:Sat, May 25, 2013
Jackpot:$50,000,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$891,505$288,045$50,816$552,645
2$927,165$301,239$52,848$573,078
3$964,252$314,961$54,962$594,329
4$1,002,822$329,232$57,161$616,429
5$1,042,935$344,074$59,447$639,414
6$1,084,652$359,509$61,825$663,318
7$1,128,038$375,562$64,298$688,178
8$1,173,160$392,257$66,870$714,033
9$1,220,086$409,620$69,545$740,922
10$1,268,890$427,677$72,327$768,886
11$1,319,645$446,456$75,220$797,969
12$1,372,431$465,987$78,229$828,215
13$1,427,328$486,299$81,358$859,671
14$1,484,421$507,424$84,612$892,386
15$1,543,798$529,393$87,996$926,409
16$1,605,550$552,241$91,516$961,792
17$1,669,772$576,003$95,177$998,592
18$1,736,563$600,716$98,984$1,036,863
19$1,806,025$626,417$102,943$1,076,665
20$1,878,266$653,146$107,061$1,118,059
21$1,953,397$680,945$111,344$1,161,109
22$2,031,533$709,855$115,797$1,205,881
23$2,112,794$739,922$120,429$1,252,443
24$2,197,306$771,191$125,246$1,300,869
25$2,285,198$803,711$130,256$1,351,231
26$2,376,606$837,532$135,467$1,403,608
27$2,471,671$872,706$140,885$1,458,079
28$2,570,537$909,287$146,521$1,514,730
29$2,673,359$947,331$152,381$1,573,647
30$2,780,293$986,896$158,477$1,634,920
Total$50,000,000$17,245,634$2,849,998$29,904,370

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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.