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July 06, 2018

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Hi, Larry. If you choose the annuity option, it is not a set amount each year that you would receive. That is because the annual prize payment increases over time to account for factors like inflation. The prize payments increase 5 percent each year until the 30th and final payment.

If I win $300m and take the 30 year annuity how much will each year payment be approximately after taxes?

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Mary N
As the lottery’s vice president of external relations, I’m a member of the senior management team at the Iowa Lottery, where I’ve worked since 1999. I’ve spent my years at the lottery learning as much as I can about all the ins and outs of the lottery industry. I’ll put that knowledge to work here so I can share the behind-the-scenes details with you!