Iowa Lottery

IALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 19, 2025 is estimated to be $216 Million, with a cash option of 97 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 Aug 19, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 19, 2025	$216,000,000	$97,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$97,000,000
Federal Tax(24%)	$23,280,000
Additional Federal Tax	$12,570,330
State Tax(5%)	$4,850,000
Net Lumpsum Payment	$56,299,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,251,016	-$1,163,206 -$162,551	$1,925,259
2	$3,413,664	-$1,223,386 -$170,683	$2,019,595
3	$3,584,304	-$1,286,523 -$179,215	$2,118,566
4	$3,763,584	-$1,352,856 -$188,179	$2,222,549
5	$3,951,720	-$1,422,467 -$197,586	$2,331,667
6	$4,149,360	-$1,495,594 -$207,468	$2,446,298
7	$4,356,720	-$1,572,317 -$217,836	$2,566,567
8	$4,574,664	-$1,652,956 -$228,733	$2,692,975
9	$4,803,408	-$1,737,591 -$240,170	$2,825,647
10	$5,043,600	-$1,826,462 -$252,180	$2,964,958
11	$5,295,672	-$1,919,729 -$264,784	$3,111,159
12	$5,560,488	-$2,017,711 -$278,024	$3,264,753
13	$5,838,480	-$2,120,568 -$291,924	$3,425,988
14	$6,130,512	-$2,228,620 -$306,526	$3,595,366
15	$6,437,016	-$2,342,026 -$321,851	$3,773,139
16	$6,758,856	-$2,461,107 -$337,943	$3,959,806
17	$7,096,680	-$2,586,102 -$354,834	$4,155,744
18	$7,451,568	-$2,717,411 -$372,578	$4,361,579
19	$7,824,168	-$2,855,273 -$391,208	$4,577,687
20	$8,215,344	-$3,000,008 -$410,767	$4,804,569
21	$8,626,176	-$3,152,016 -$431,309	$5,042,851
22	$9,057,528	-$3,311,616 -$452,876	$5,293,036
23	$9,510,264	-$3,479,128 -$475,513	$5,555,623
24	$9,985,896	-$3,655,112 -$499,295	$5,831,489
25	$10,485,072	-$3,839,807 -$524,254	$6,121,011
26	$11,009,520	-$4,033,853 -$550,476	$6,425,191
27	$11,559,888	-$4,237,489 -$577,994	$6,744,405
28	$12,137,904	-$4,451,355 -$606,895	$7,079,654
29	$12,744,864	-$4,675,930 -$637,243	$7,431,691
30	$13,382,064	-$4,911,694 -$669,103	$7,801,267