USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Nov 30, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $65,600,000 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 money, as well as deductions claimed.

State:

Iowa

Drawing Date:Wed, Nov 30, 2022
Jackpot:$65,600,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$987,374$323,516$56,280$607,578
2$1,036,743$341,783$59,094$635,866
3$1,088,580$360,962$62,049$665,569
4$1,143,009$381,101$65,152$696,756
5$1,200,159$402,247$68,409$729,504
6$1,260,167$424,450$71,830$763,888
7$1,323,176$447,763$75,421$799,992
8$1,389,335$472,242$79,192$837,901
9$1,458,801$497,944$83,152$877,705
10$1,531,741$524,932$87,309$919,500
11$1,608,328$553,269$91,675$963,384
12$1,688,745$583,023$96,258$1,009,463
13$1,773,182$614,265$101,071$1,057,846
14$1,861,841$647,069$106,125$1,108,647
15$1,954,933$681,513$111,431$1,161,989
16$2,052,680$717,679$117,003$1,217,998
17$2,155,314$755,654$122,853$1,276,807
18$2,263,080$795,527$128,996$1,338,557
19$2,376,234$837,394$135,445$1,403,394
20$2,495,045$881,355$142,218$1,471,473
21$2,619,798$927,513$149,328$1,542,956
22$2,750,787$975,979$156,795$1,618,013
23$2,888,327$1,026,869$164,635$1,696,824
24$3,032,743$1,080,303$172,866$1,779,574
25$3,184,380$1,136,408$181,510$1,866,462
26$3,343,599$1,195,320$190,585$1,957,695
27$3,510,779$1,257,176$200,114$2,053,489
28$3,686,318$1,322,125$210,120$2,154,073
29$3,870,634$1,390,322$220,626$2,259,686
30$4,064,166$1,461,929$231,657$2,370,579
Total$65,600,000$23,017,632$3,739,199$38,843,168

◄ Back to Jackpot Analysis

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.