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Iowa Powerball Jackpot Annuity Payout Schedule for Jan 24, 2015

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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 $235,200,000 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, Jan 24, 2015
Jackpot:$235,200,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,193,639$1,509,834$239,037$2,444,768
2$4,361,385$1,571,900$248,599$2,540,886
3$4,535,840$1,636,449$258,543$2,640,849
4$4,717,274$1,703,579$268,885$2,744,810
5$4,905,965$1,773,395$279,640$2,852,930
6$5,102,203$1,846,003$290,826$2,965,375
7$5,306,292$1,921,516$302,459$3,082,317
8$5,518,543$2,000,049$314,557$3,203,938
9$5,739,285$2,081,723$327,139$3,330,423
10$5,968,856$2,166,665$340,225$3,461,967
11$6,207,611$2,255,004$353,834$3,598,773
12$6,455,915$2,346,876$367,987$3,741,052
13$6,714,152$2,442,424$382,707$3,889,021
14$6,982,718$2,541,793$398,015$4,042,910
15$7,262,026$2,645,138$413,936$4,202,953
16$7,552,507$2,752,616$430,493$4,369,399
17$7,854,608$2,864,393$447,713$4,542,503
18$8,168,792$2,980,641$465,621$4,722,530
19$8,495,544$3,101,539$484,246$4,909,759
20$8,835,366$3,227,273$503,616$5,104,477
21$9,188,780$3,358,036$523,760$5,306,983
22$9,556,331$3,494,030$544,711$5,517,590
23$9,938,585$3,635,464$566,499$5,736,621
24$10,336,128$3,782,555$589,159$5,964,414
25$10,749,573$3,935,530$612,726$6,201,318
26$11,179,556$4,094,623$637,235$6,447,698
27$11,626,738$4,260,081$662,724$6,703,933
28$12,091,808$4,432,157$689,233$6,970,418
29$12,575,480$4,611,115$716,802$7,247,562
30$13,078,499$4,797,233$745,474$7,535,792
Total$235,200,000$85,769,634$13,406,401$136,023,969

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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.