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Iowa Powerball Jackpot Annuity Payout Schedule for Sep 5, 2015

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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 $134,100,000 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, Sep 5, 2015
Jackpot:$134,100,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,391,016$841,696$90,859$1,458,461
2$2,486,657$877,083$94,493$1,515,081
3$2,586,123$913,886$98,273$1,573,965
4$2,689,568$952,160$102,204$1,635,204
5$2,797,151$991,966$106,292$1,698,893
6$2,909,037$1,033,364$110,543$1,765,130
7$3,025,398$1,076,418$114,965$1,834,016
8$3,146,414$1,121,194$119,564$1,905,657
9$3,272,271$1,167,760$124,346$1,980,164
10$3,403,162$1,216,190$129,320$2,057,651
11$3,539,288$1,266,557$134,493$2,138,238
12$3,680,860$1,318,938$139,873$2,222,049
13$3,828,094$1,373,415$145,468$2,309,211
14$3,981,218$1,430,071$151,286$2,399,861
15$4,140,467$1,488,993$157,338$2,494,136
16$4,306,085$1,550,272$163,631$2,592,182
17$4,478,329$1,614,002$170,176$2,694,150
18$4,657,462$1,680,281$176,984$2,800,197
19$4,843,760$1,749,212$184,063$2,910,486
20$5,037,511$1,820,899$191,425$3,025,186
21$5,239,011$1,895,454$199,082$3,144,474
22$5,448,572$1,972,992$207,046$3,268,534
23$5,666,514$2,053,631$215,328$3,397,556
24$5,893,175$2,137,495$223,941$3,531,739
25$6,128,902$2,224,714$232,898$3,671,290
26$6,374,058$2,315,422$242,214$3,816,422
27$6,629,020$2,409,758$251,903$3,967,360
28$6,894,181$2,507,867$261,979$4,124,335
29$7,169,948$2,609,901$272,458$4,287,589
30$7,456,746$2,716,016$283,356$4,457,374
Total$134,100,000$48,327,607$5,095,801$80,676,591

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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.