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Iowa Powerball Jackpot Annuity Payout Schedule for Dec 5, 2022

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The tax information provided here is based on 2025 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 $89,200,000 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:Mon, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$453,778$51,018$837,792
2$1,409,717$478,616$53,569$877,532
3$1,480,203$504,695$56,248$919,260
4$1,554,213$532,079$59,060$963,074
5$1,631,924$560,832$62,013$1,009,079
6$1,713,520$591,023$65,114$1,057,384
7$1,799,196$622,723$68,369$1,108,104
8$1,889,156$656,008$71,788$1,161,360
9$1,983,614$690,957$75,377$1,217,279
10$2,082,795$727,654$79,146$1,275,994
11$2,186,934$766,186$83,104$1,337,645
12$2,296,281$806,644$87,259$1,402,378
13$2,411,095$849,125$91,622$1,470,348
14$2,531,650$893,731$96,203$1,541,717
15$2,658,232$940,566$101,013$1,616,653
16$2,791,144$989,744$106,063$1,695,337
17$2,930,701$1,041,380$111,367$1,777,955
18$3,077,236$1,095,598$116,935$1,864,704
19$3,231,098$1,152,527$122,782$1,955,790
20$3,392,653$1,212,302$128,921$2,051,430
21$3,562,286$1,275,066$135,367$2,151,853
22$3,740,400$1,340,968$142,135$2,257,297
23$3,927,420$1,410,166$149,242$2,368,012
24$4,123,791$1,482,823$156,704$2,484,264
25$4,329,980$1,559,113$164,539$2,606,328
26$4,546,480$1,639,218$172,766$2,734,496
27$4,773,804$1,723,328$181,405$2,869,071
28$5,012,494$1,811,643$190,475$3,010,376
29$5,263,118$1,904,374$199,998$3,158,746
30$5,526,274$2,001,742$209,998$3,314,534
Total$89,200,000$31,714,609$3,389,600$54,095,792

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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.