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Iowa Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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The tax information provided here is based on 2022 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 $632,600,000 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:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 8.53%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$812,187$5,223,427
2$9,997,615$3,662,072$852,797$5,482,746
3$10,497,495$3,847,028$895,436$5,755,031
4$11,022,371$4,041,232$940,208$6,040,930
5$11,573,488$4,245,146$987,219$6,341,124
6$12,152,163$4,459,255$1,036,580$6,656,328
7$12,759,772$4,684,071$1,088,409$6,987,293
8$13,397,760$4,920,126$1,142,829$7,334,805
9$14,067,648$5,167,985$1,199,970$7,699,693
10$14,771,030$5,428,236$1,259,969$8,082,825
11$15,509,582$5,701,500$1,322,967$8,485,114
12$16,285,061$5,988,428$1,389,116$8,907,518
13$17,099,314$6,289,701$1,458,571$9,351,041
14$17,954,280$6,606,039$1,531,500$9,816,741
15$18,851,994$6,938,193$1,608,075$10,305,726
16$19,794,594$7,286,955$1,688,479$10,819,160
17$20,784,323$7,653,154$1,772,903$11,358,266
18$21,823,539$8,037,664$1,861,548$11,924,327
19$22,914,716$8,441,400$1,954,625$12,518,691
20$24,060,452$8,865,322$2,052,357$13,142,773
21$25,263,474$9,310,441$2,154,974$13,798,059
22$26,526,648$9,777,815$2,262,723$14,486,110
23$27,852,981$10,268,558$2,375,859$15,208,564
24$29,245,629$10,783,838$2,494,652$15,967,139
25$30,707,911$11,324,882$2,619,385$16,763,644
26$32,243,307$11,892,979$2,750,354$17,599,974
27$33,855,472$12,489,480$2,887,872$18,478,121
28$35,548,245$13,115,806$3,032,265$19,400,174
29$37,325,658$13,773,448$3,183,879$20,368,331
30$39,191,941$14,463,973$3,343,073$21,384,895
Total$632,600,001$232,950,651$53,960,781$345,688,570

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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.