USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Nov 7, 2020

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The tax information provided here is based on 2021 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 $146,600,000 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 prize money, as well as deductions claimed.

State:

Iowa

Drawing Date:Sat, Nov 7, 2020
Jackpot:$146,600,000
Federal Tax:37% marginal rate
State Tax: 8.53%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,206,540$780,492$188,218$1,237,830
2$2,316,867$821,313$197,629$1,297,925
3$2,432,711$864,175$207,510$1,361,025
4$2,554,346$909,180$217,886$1,427,280
5$2,682,064$956,436$228,780$1,496,848
6$2,816,167$1,006,054$240,219$1,569,894
7$2,956,975$1,058,153$252,230$1,646,592
8$3,104,824$1,112,857$264,841$1,727,125
9$3,260,065$1,170,296$278,084$1,811,685
10$3,423,068$1,230,608$291,988$1,900,473
11$3,594,222$1,293,934$306,587$1,993,700
12$3,773,933$1,360,427$321,916$2,091,589
13$3,962,630$1,430,245$338,012$2,194,372
14$4,160,761$1,503,554$354,913$2,302,294
15$4,368,799$1,580,528$372,659$2,415,613
16$4,587,239$1,661,351$391,291$2,534,597
17$4,816,601$1,746,215$410,856$2,659,530
18$5,057,431$1,835,322$431,399$2,790,710
19$5,310,303$1,928,884$452,969$2,928,450
20$5,575,818$2,027,125$475,617$3,073,076
21$5,854,609$2,130,277$499,398$3,224,933
22$6,147,339$2,238,588$524,368$3,384,383
23$6,454,706$2,352,313$550,586$3,551,806
24$6,777,441$2,471,725$578,116$3,727,600
25$7,116,313$2,597,108$607,022$3,912,184
26$7,472,129$2,728,760$637,373$4,105,996
27$7,845,735$2,866,994$669,241$4,309,500
28$8,238,022$3,012,140$702,703$4,523,178
29$8,649,923$3,164,544$737,838$4,747,541
30$9,082,419$3,324,567$774,730$4,983,122
Total$146,600,000$53,164,165$12,504,979$80,930,851

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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.