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Iowa Powerball Jackpot Annuity Payout Schedule for Sep 26, 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 $286,000,000 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, Sep 26, 2022
Jackpot:$286,000,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,304,710$1,550,931$245,368$2,508,411
2$4,519,946$1,630,568$257,637$2,631,741
3$4,745,943$1,714,187$270,519$2,761,238
4$4,983,241$1,801,987$284,045$2,897,209
5$5,232,402$1,894,177$298,247$3,039,979
6$5,494,023$1,990,976$313,159$3,189,887
7$5,768,724$2,092,616$328,817$3,347,291
8$6,057,160$2,199,337$345,258$3,512,565
9$6,360,018$2,311,394$362,521$3,686,103
10$6,678,019$2,429,055$380,647$3,868,317
11$7,011,920$2,552,598$399,679$4,059,642
12$7,362,516$2,682,319$419,663$4,260,534
13$7,730,641$2,818,525$440,647$4,471,470
14$8,117,174$2,961,542$462,679$4,692,953
15$8,523,032$3,111,710$485,813$4,925,510
16$8,949,184$3,269,386$510,103$5,169,695
17$9,396,643$3,434,946$535,609$5,426,089
18$9,866,475$3,608,784$562,389$5,695,303
19$10,359,799$3,791,313$590,509$5,977,977
20$10,877,789$3,982,970$620,034$6,274,785
21$11,421,678$4,184,209$651,036$6,586,434
22$11,992,762$4,395,510$683,587$6,913,665
23$12,592,400$4,617,376$717,767$7,257,258
24$13,222,020$4,850,335$753,655$7,618,030
25$13,883,121$5,094,943$791,338$7,996,841
26$14,577,278$5,351,780$830,905$8,394,592
27$15,306,141$5,621,460$872,450$8,812,231
28$16,071,448$5,904,624$916,073$9,250,752
29$16,875,021$6,201,945$961,876$9,711,199
30$17,718,772$6,514,133$1,009,970$10,194,669
Total$286,000,001$104,565,636$16,302,000$165,132,370

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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.