USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Oct 11, 2023

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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 $1,764,900,000 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, Oct 11, 2023
Jackpot:$1,764,900,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$26,564,278$9,785,803$1,009,443$15,769,032
2$27,892,492$10,277,242$1,059,915$16,555,335
3$29,287,116$10,793,253$1,112,910$17,380,952
4$30,751,473$11,335,065$1,168,556$18,247,852
5$32,289,045$11,903,967$1,226,984$19,158,094
6$33,903,498$12,501,314$1,288,333$20,113,850
7$35,598,674$13,128,530$1,352,750$21,117,395
8$37,378,607$13,787,105$1,420,387$22,171,115
9$39,247,537$14,478,609$1,491,406$23,277,522
10$41,209,914$15,204,688$1,565,977$24,439,249
11$43,270,410$15,967,072$1,644,276$25,659,062
12$45,433,930$16,767,574$1,726,489$26,939,866
13$47,705,626$17,608,102$1,812,814$28,284,711
14$50,090,908$18,490,656$1,903,455$29,696,797
15$52,595,453$19,417,338$1,998,627$31,179,488
16$55,225,226$20,390,354$2,098,559$32,736,314
17$57,986,487$21,412,020$2,203,486$34,370,980
18$60,885,811$22,484,770$2,313,661$36,087,380
19$63,930,102$23,611,158$2,429,344$37,889,600
20$67,126,607$24,793,865$2,550,811$39,781,931
21$70,482,937$26,035,707$2,678,352$41,768,878
22$74,007,084$27,339,641$2,812,269$43,855,173
23$77,707,439$28,708,773$2,952,883$46,045,783
24$81,592,810$30,146,360$3,100,527$48,345,923
25$85,672,450$31,655,827$3,255,553$50,761,070
26$89,956,074$33,240,768$3,418,331$53,296,976
27$94,453,878$34,904,955$3,589,247$55,959,675
28$99,176,570$36,652,351$3,768,710$58,755,509
29$104,135,399$38,487,118$3,957,145$61,691,136
30$109,342,170$40,413,623$4,155,002$64,773,544
Total$1,764,900,004$651,723,608$67,066,202$1,046,110,192

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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.