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Iowa Powerball Jackpot Annuity Payout Schedule for Jan 13, 2024

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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 $78,400,000 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, Jan 13, 2024
Jackpot:$78,400,000
Federal Tax:37% marginal rate
State Tax: 3.8%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,180,033$393,632$44,841$741,559
2$1,239,034$415,463$47,083$776,488
3$1,300,986$438,385$49,437$813,163
4$1,366,035$462,453$51,909$851,673
5$1,434,337$487,725$54,505$892,107
6$1,506,054$514,260$57,230$934,564
7$1,581,356$542,122$60,092$979,143
8$1,660,424$571,377$63,096$1,025,951
9$1,743,445$602,095$66,251$1,075,099
10$1,830,618$634,349$69,563$1,126,705
11$1,922,149$668,215$73,042$1,180,892
12$2,018,256$703,775$76,694$1,237,787
13$2,119,169$741,113$80,528$1,297,528
14$2,225,127$780,317$84,555$1,360,255
15$2,336,384$821,482$88,783$1,426,119
16$2,453,203$864,705$93,222$1,495,276
17$2,575,863$910,090$97,883$1,567,891
18$2,704,656$957,743$102,777$1,644,136
19$2,839,889$1,007,779$107,916$1,724,194
20$2,981,883$1,060,317$113,312$1,808,255
21$3,130,978$1,115,482$118,977$1,896,518
22$3,287,526$1,173,405$124,926$1,989,195
23$3,451,903$1,234,224$131,172$2,086,506
24$3,624,498$1,298,084$137,731$2,188,682
25$3,805,723$1,365,138$144,617$2,295,968
26$3,996,009$1,435,544$151,848$2,408,617
27$4,195,809$1,509,470$159,441$2,526,899
28$4,405,600$1,587,092$167,413$2,651,095
29$4,625,880$1,668,596$175,783$2,781,501
30$4,857,174$1,754,175$184,573$2,918,427
Total$78,400,000$27,718,607$2,979,200$47,702,193

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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.