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Iowa Powerball Jackpot Annuity Payout Schedule for Oct 15, 2022

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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 $464,800,000 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, Oct 15, 2022
Jackpot:$464,800,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,995,907$2,546,673$398,767$4,050,467
2$7,345,702$2,676,098$418,705$4,250,900
3$7,712,987$2,811,993$439,640$4,461,354
4$8,098,637$2,954,683$461,622$4,682,331
5$8,503,569$3,104,508$484,703$4,914,357
6$8,928,747$3,261,824$508,939$5,157,984
7$9,375,185$3,427,006$534,386$5,413,793
8$9,843,944$3,600,447$561,105$5,682,392
9$10,336,141$3,782,560$589,160$5,964,421
10$10,852,948$3,973,779$618,618$6,260,551
11$11,395,595$4,174,558$649,549$6,571,488
12$11,965,375$4,385,377$682,026$6,897,972
13$12,563,644$4,606,736$716,128$7,240,780
14$13,191,826$4,839,163$751,934$7,600,729
15$13,851,417$5,083,212$789,531$7,978,674
16$14,543,988$5,339,463$829,007$8,375,518
17$15,271,188$5,608,527$870,458$8,792,203
18$16,034,747$5,891,044$913,981$9,229,722
19$16,836,484$6,187,687$959,680$9,689,118
20$17,678,309$6,499,162$1,007,664$10,171,483
21$18,562,224$6,826,211$1,058,047$10,677,967
22$19,490,335$7,169,612$1,110,949$11,209,774
23$20,464,852$7,530,183$1,166,497$11,768,173
24$21,488,094$7,908,783$1,224,821$12,354,490
25$22,562,499$8,306,312$1,286,062$12,970,124
26$23,690,625$8,723,719$1,350,366$13,616,540
27$24,875,156$9,161,995$1,417,884$14,295,276
28$26,118,913$9,622,186$1,488,778$15,007,949
29$27,424,859$10,105,386$1,563,217$15,756,256
30$28,796,102$10,612,746$1,641,378$16,541,979
Total$464,800,001$170,721,633$26,493,602$267,584,765

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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.