Iowa Lottery

IALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 29, 2025 is estimated to be $130 Million, with a cash option of 57.5 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Iowa, your state will take 5% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Iowa MEGA Millions Jackpot/Cash Option for Tue Jul 29, 2025

Draw Date Jackpot Cash Option
Tue Jul 29, 2025$130,000,000$57,500,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$57,500,000
Federal Tax(24%)$13,800,000
Additional Federal Tax$7,435,330
State Tax(5%)$2,875,000
Net Lumpsum Payment$33,389,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $1,956,630 -$684,283
-$97,832
$1,174,515
2 $2,054,520 -$720,503
-$102,726
$1,231,291
3 $2,157,220 -$758,502
-$107,861
$1,290,857
4 $2,265,120 -$798,425
-$113,256
$1,353,439
5 $2,378,350 -$840,320
-$118,918
$1,419,112
6 $2,497,300 -$884,331
-$124,865
$1,488,104
7 $2,622,100 -$930,507
-$131,105
$1,560,488
8 $2,753,270 -$979,040
-$137,664
$1,636,566
9 $2,890,940 -$1,029,978
-$144,547
$1,716,415
10 $3,035,500 -$1,083,465
-$151,775
$1,800,260
11 $3,187,210 -$1,139,598
-$159,361
$1,888,251
12 $3,346,590 -$1,198,569
-$167,330
$1,980,691
13 $3,513,900 -$1,260,473
-$175,695
$2,077,732
14 $3,689,660 -$1,325,505
-$184,483
$2,179,672
15 $3,874,130 -$1,393,758
-$193,707
$2,286,665
16 $4,067,830 -$1,465,427
-$203,392
$2,399,011
17 $4,271,150 -$1,540,656
-$213,558
$2,516,936
18 $4,484,740 -$1,619,684
-$224,237
$2,640,819
19 $4,708,990 -$1,702,657
-$235,450
$2,770,883
20 $4,944,420 -$1,789,766
-$247,221
$2,907,433
21 $5,191,680 -$1,881,252
-$259,584
$3,050,844
22 $5,451,290 -$1,977,308
-$272,565
$3,201,417
23 $5,723,770 -$2,078,125
-$286,189
$3,359,456
24 $6,010,030 -$2,184,041
-$300,502
$3,525,487
25 $6,310,460 -$2,295,201
-$315,523
$3,699,736
26 $6,626,100 -$2,411,987
-$331,305
$3,882,808
27 $6,957,340 -$2,534,546
-$347,867
$4,074,927
28 $7,305,220 -$2,663,262
-$365,261
$4,276,697
29 $7,670,520 -$2,798,423
-$383,526
$4,488,571
30 $8,054,020 -$2,940,318
-$402,701
$4,711,001
1
3
0
Cash Option: $57.5 Million
Next Draw: Tue Jul 29
Mega Millions
Fri Jul 25, 2025
142125495207

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