USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Sep 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 $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 prize 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: 6%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,304,710$1,555,698$258,283$2,490,730
2$4,519,946$1,635,335$271,197$2,613,414
3$4,745,943$1,718,954$284,757$2,742,233
4$4,983,241$1,806,754$298,994$2,877,492
5$5,232,402$1,898,944$313,944$3,019,514
6$5,494,023$1,995,743$329,641$3,168,638
7$5,768,724$2,097,383$346,123$3,325,218
8$6,057,160$2,204,104$363,430$3,489,626
9$6,360,018$2,316,162$381,601$3,662,255
10$6,678,019$2,433,822$400,681$3,843,516
11$7,011,920$2,557,365$420,715$4,033,839
12$7,362,516$2,687,086$441,751$4,233,679
13$7,730,641$2,823,292$463,838$4,443,511
14$8,117,174$2,966,309$487,030$4,663,834
15$8,523,032$3,116,477$511,382$4,895,173
16$8,949,184$3,274,153$536,951$5,138,080
17$9,396,643$3,439,713$563,799$5,393,131
18$9,866,475$3,613,551$591,989$5,660,936
19$10,359,799$3,796,081$621,588$5,942,130
20$10,877,789$3,987,737$652,667$6,237,385
21$11,421,678$4,188,976$685,301$6,547,402
22$11,992,762$4,400,277$719,566$6,872,919
23$12,592,400$4,622,143$755,544$7,214,713
24$13,222,020$4,855,102$793,321$7,573,597
25$13,883,121$5,099,710$832,987$7,950,424
26$14,577,278$5,356,548$874,637$8,346,093
27$15,306,141$5,626,227$918,368$8,761,546
28$16,071,448$5,909,391$964,287$9,197,771
29$16,875,021$6,206,713$1,012,501$9,655,807
30$17,718,772$6,518,901$1,063,126$10,136,745
Total$286,000,001$104,708,651$17,159,999$164,131,351

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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.