USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Nov 5, 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 $1,656,800,000 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, Nov 5, 2022
Jackpot:$1,656,800,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$24,937,218$9,184,958$1,421,421$14,330,838
2$26,184,079$9,646,297$1,492,492$15,045,289
3$27,493,282$10,130,702$1,567,117$15,795,463
4$28,867,947$10,639,328$1,645,473$16,583,146
5$30,311,343$11,173,385$1,727,747$17,410,212
6$31,826,911$11,734,145$1,814,134$18,278,632
7$33,418,257$12,322,943$1,904,841$19,190,474
8$35,089,170$12,941,181$2,000,083$20,147,907
9$36,843,628$13,590,330$2,100,087$21,153,211
10$38,685,809$14,271,937$2,205,091$22,208,781
11$40,620,100$14,987,625$2,315,346$23,317,130
12$42,651,105$15,739,097$2,431,113$24,480,895
13$44,783,660$16,528,142$2,552,669$25,702,850
14$47,022,844$17,356,640$2,680,302$26,985,902
15$49,373,985$18,226,562$2,814,317$28,333,106
16$51,842,685$19,139,981$2,955,033$29,747,671
17$54,434,818$20,099,071$3,102,785$31,232,963
18$57,156,560$21,106,115$3,257,924$32,792,521
19$60,014,387$22,163,511$3,420,820$34,430,056
20$63,015,107$23,273,777$3,591,861$36,149,469
21$66,165,862$24,439,557$3,771,454$37,954,851
22$69,474,155$25,663,625$3,960,027$39,850,503
23$72,947,864$26,948,897$4,158,028$41,840,938
24$76,595,256$28,298,432$4,365,930$43,930,894
25$80,425,018$29,715,445$4,584,226$46,125,348
26$84,446,271$31,203,308$4,813,437$48,429,525
27$88,668,584$32,765,564$5,054,109$50,848,911
28$93,102,012$34,405,932$5,306,815$53,389,265
29$97,757,113$36,128,320$5,572,155$56,056,638
30$102,644,970$37,936,827$5,850,763$58,857,380
Total$1,656,800,003$611,761,634$94,437,600$950,600,769

◄ 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.