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Iowa Powerball Jackpot Annuity Payout Schedule for Oct 1, 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 $325,400,000 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, Oct 1, 2022
Jackpot:$325,400,000
Federal Tax:37% marginal rate
State Tax: 6%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,897,737$1,775,118$293,864$2,828,755
2$5,142,624$1,865,726$308,557$2,968,341
3$5,399,755$1,960,864$323,985$3,114,905
4$5,669,743$2,060,760$340,185$3,268,798
5$5,953,230$2,165,650$357,194$3,430,386
6$6,250,891$2,275,785$375,053$3,600,053
7$6,563,436$2,391,426$393,806$3,778,204
8$6,891,608$2,512,850$413,496$3,965,261
9$7,236,188$2,640,345$434,171$4,161,672
10$7,597,998$2,774,214$455,880$4,367,904
11$7,977,898$2,914,777$478,674$4,584,447
12$8,376,792$3,062,368$502,608$4,811,817
13$8,795,632$3,217,339$527,738$5,050,555
14$9,235,414$3,380,058$554,125$5,301,231
15$9,697,184$3,550,913$581,831$5,564,440
16$10,182,044$3,730,311$610,923$5,840,810
17$10,691,146$3,918,679$641,469$6,130,998
18$11,225,703$4,116,465$673,542$6,435,696
19$11,786,988$4,324,141$707,219$6,755,628
20$12,376,337$4,542,200$742,580$7,091,557
21$12,995,154$4,771,162$779,709$7,444,283
22$13,644,912$5,011,572$818,695$7,814,645
23$14,327,158$5,264,003$859,629$8,203,525
24$15,043,515$5,529,056$902,611$8,611,849
25$15,795,691$5,807,361$947,741$9,040,589
26$16,585,476$6,099,581$995,129$9,490,766
27$17,414,750$6,406,412$1,044,885$9,963,452
28$18,285,487$6,728,585$1,097,129$10,459,773
29$19,199,761$7,066,867$1,151,986$10,980,909
30$20,159,750$7,422,062$1,209,585$11,528,102
Total$325,400,001$119,286,650$19,523,999$186,589,351

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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.