Iowa Lottery

IALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Sep 30, 2025 is estimated to be $497 Million, with a cash option of 229.5 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 Sep 30, 2025

Draw Date	Jackpot	Cash Option
Tue Sep 30, 2025	$497,000,000	$229,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$229,500,000
Federal Tax(24%)	$55,080,000
Additional Federal Tax	$29,795,330
State Tax(5%)	$11,475,000
Net Lumpsum Payment	$133,149,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,480,347	-$2,728,059 -$374,017	$4,378,271
2	$7,854,588	-$2,866,528 -$392,729	$4,595,331
3	$8,247,218	-$3,011,801 -$412,361	$4,823,056
4	$8,659,728	-$3,164,430 -$432,986	$5,062,312
5	$9,092,615	-$3,324,598 -$454,631	$5,313,386
6	$9,547,370	-$3,492,857 -$477,369	$5,577,144
7	$10,024,490	-$3,669,392 -$501,225	$5,853,873
8	$10,525,963	-$3,854,937 -$526,298	$6,144,728
9	$11,052,286	-$4,049,676 -$552,614	$6,449,996
10	$11,604,950	-$4,254,162 -$580,248	$6,770,540
11	$12,184,949	-$4,468,762 -$609,247	$7,106,940
12	$12,794,271	-$4,694,211 -$639,714	$7,460,346
13	$13,433,910	-$4,930,877 -$671,696	$7,831,337
14	$14,105,854	-$5,179,496 -$705,293	$8,221,065
15	$14,811,097	-$5,440,436 -$740,555	$8,630,106
16	$15,551,627	-$5,714,432 -$777,581	$9,059,614
17	$16,328,935	-$6,002,036 -$816,447	$9,510,452
18	$17,145,506	-$6,304,168 -$857,275	$9,984,063
19	$18,002,831	-$6,621,378 -$900,142	$10,481,311
20	$18,902,898	-$6,954,403 -$945,145	$11,003,350
21	$19,848,192	-$7,304,161 -$992,410	$11,551,621
22	$20,840,701	-$7,671,390 -$1,042,035	$12,127,276
23	$21,882,413	-$8,056,823 -$1,094,121	$12,731,469
24	$22,976,807	-$8,461,749 -$1,148,840	$13,366,218
25	$24,125,374	-$8,886,719 -$1,206,269	$14,032,386
26	$25,332,090	-$9,333,204 -$1,266,605	$14,732,281
27	$26,598,446	-$9,801,755 -$1,329,922	$15,466,769
28	$27,928,418	-$10,293,845 -$1,396,421	$16,238,152
29	$29,324,988	-$10,810,576 -$1,466,249	$17,048,163
30	$30,791,138	-$11,353,051 -$1,539,557	$17,898,530