USA Mega

Iowa Powerball Jackpot Annuity Payout Schedule for Sep 18, 2024

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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 $176,300,000 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, Sep 18, 2024
Jackpot:$176,300,000
Federal Tax:37% marginal rate
State Tax: 5.7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,653,568$940,008$151,253$1,562,307
2$2,786,246$989,099$158,816$1,638,331
3$2,925,559$1,040,644$166,757$1,718,157
4$3,071,837$1,094,767$175,095$1,801,975
5$3,225,428$1,151,596$183,849$1,889,983
6$3,386,700$1,211,267$193,042$1,982,391
7$3,556,035$1,273,921$202,694$2,079,420
8$3,733,837$1,339,707$212,829$2,181,301
9$3,920,529$1,408,783$223,470$2,288,275
10$4,116,555$1,481,313$234,644$2,400,598
11$4,322,383$1,557,469$246,376$2,518,538
12$4,538,502$1,637,433$258,695$2,642,374
13$4,765,427$1,721,396$271,629$2,772,402
14$5,003,698$1,809,556$285,211$2,908,931
15$5,253,883$1,902,125$299,471$3,052,287
16$5,516,577$1,999,321$314,445$3,202,811
17$5,792,406$2,101,378$330,167$3,360,861
18$6,082,026$2,208,538$346,676$3,526,813
19$6,386,128$2,321,055$364,009$3,701,063
20$6,705,434$2,439,198$382,210$3,884,026
21$7,040,706$2,563,249$401,320$4,076,137
22$7,392,741$2,693,502$421,386$4,277,853
23$7,762,378$2,830,268$442,456$4,489,655
24$8,150,497$2,973,872$464,578$4,712,047
25$8,558,022$3,124,656$487,807$4,945,559
26$8,985,923$3,282,979$512,198$5,190,746
27$9,435,219$3,449,219$537,808$5,448,193
28$9,906,980$3,623,770$564,698$5,718,512
29$10,402,329$3,807,050$592,933$6,002,347
30$10,922,446$3,999,493$622,579$6,300,374
Total$176,300,000$63,976,632$10,049,101$102,274,267

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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.