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Iowa Powerball Jackpot Annuity Payout Schedule for Oct 4, 2014

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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 $60,000,000 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, Oct 4, 2014
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,069,806$352,848$40,653$676,305
2$1,112,598$368,682$42,279$701,638
3$1,157,102$385,148$43,970$727,984
4$1,203,386$402,273$45,729$755,384
5$1,251,522$420,083$47,558$783,881
6$1,301,583$438,606$49,460$813,517
7$1,353,646$457,869$51,439$844,338
8$1,407,792$477,903$53,496$876,392
9$1,464,103$498,738$55,636$909,729
10$1,522,667$520,407$57,861$944,399
11$1,583,574$542,943$60,176$980,456
12$1,646,917$566,380$62,583$1,017,955
13$1,712,794$590,754$65,086$1,056,954
14$1,781,306$616,103$67,690$1,097,513
15$1,852,558$642,467$70,397$1,139,694
16$1,926,660$669,884$73,213$1,183,563
17$2,003,726$698,399$76,142$1,229,186
18$2,083,876$728,054$79,187$1,276,634
19$2,167,231$758,896$82,355$1,325,980
20$2,253,920$790,971$85,649$1,377,300
21$2,344,077$824,329$89,075$1,430,673
22$2,437,840$859,021$92,638$1,486,181
23$2,535,353$895,101$96,343$1,543,909
24$2,636,767$932,624$100,197$1,603,946
25$2,742,238$971,648$104,205$1,666,385
26$2,851,928$1,012,233$108,373$1,731,321
27$2,966,005$1,054,442$112,708$1,798,855
28$3,084,645$1,098,339$117,217$1,869,090
29$3,208,031$1,143,992$121,905$1,942,134
30$3,336,352$1,191,470$126,781$2,018,100
Total$60,000,000$20,910,607$2,280,001$36,809,396

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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.