USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Nov 26, 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 $45,700,000 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 26, 2022
Jackpot:$45,700,000
Federal Tax:37% marginal rate
State Tax: 6%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$687,851$217,460$41,271$429,120
2$722,243$230,185$43,335$448,724
3$758,355$243,546$45,501$469,307
4$796,273$257,576$47,776$490,921
5$836,087$272,307$50,165$513,614
6$877,891$287,775$52,673$537,443
7$921,786$304,016$55,307$562,463
8$967,875$321,069$58,072$588,734
9$1,016,269$338,974$60,976$616,318
10$1,067,082$357,775$64,025$645,282
11$1,120,436$377,516$67,226$675,694
12$1,176,458$398,244$70,587$707,626
13$1,235,281$420,009$74,117$741,155
14$1,297,045$442,862$77,823$776,361
15$1,361,897$466,857$81,714$813,326
16$1,429,992$492,052$85,800$852,140
17$1,501,492$518,507$90,089$892,895
18$1,576,566$546,284$94,594$935,688
19$1,655,394$575,451$99,324$980,620
20$1,738,164$606,076$104,290$1,027,799
21$1,825,072$638,232$109,504$1,077,336
22$1,916,326$671,996$114,980$1,129,351
23$2,012,142$707,448$120,729$1,183,966
24$2,112,749$744,672$126,765$1,241,312
25$2,218,387$783,758$133,103$1,301,526
26$2,329,306$824,798$139,758$1,364,750
27$2,445,772$867,890$146,746$1,431,135
28$2,568,060$913,137$154,084$1,500,839
29$2,696,463$960,646$161,788$1,574,029
30$2,831,286$1,010,531$169,877$1,650,878
Total$45,700,000$15,797,649$2,741,999$27,160,352

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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.