Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jul 21, 2025 is estimated to be $308 Million, with a cash option of 137.7 Million. If you win the Powerball 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Iowa Powerball Jackpot/Cash Option for Mon Jul 21, 2025

Draw Date Jackpot Cash Option
Mon Jul 21, 2025$308,000,000$137,700,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$137,700,000
Federal Tax(24%)$33,048,000
Additional Federal Tax$17,861,330
State Tax(5%)$6,885,000
Net Lumpsum Payment$79,905,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $4,635,708 -$1,675,542
-$231,785
$2,728,381
2 $4,867,632 -$1,761,354
-$243,382
$2,862,896
3 $5,110,952 -$1,851,383
-$255,548
$3,004,021
4 $5,366,592 -$1,945,969
-$268,330
$3,152,293
5 $5,634,860 -$2,045,229
-$281,743
$3,307,888
6 $5,916,680 -$2,149,502
-$295,834
$3,471,344
7 $6,212,360 -$2,258,904
-$310,618
$3,642,838
8 $6,523,132 -$2,373,889
-$326,157
$3,823,086
9 $6,849,304 -$2,494,573
-$342,465
$4,012,266
10 $7,191,800 -$2,621,296
-$359,590
$4,210,914
11 $7,551,236 -$2,754,288
-$377,562
$4,419,386
12 $7,928,844 -$2,894,003
-$396,442
$4,638,399
13 $8,325,240 -$3,040,669
-$416,262
$4,868,309
14 $8,741,656 -$3,194,743
-$437,083
$5,109,830
15 $9,178,708 -$3,356,452
-$458,935
$5,363,321
16 $9,637,628 -$3,526,253
-$481,881
$5,629,494
17 $10,119,340 -$3,704,486
-$505,967
$5,908,887
18 $10,625,384 -$3,891,722
-$531,269
$6,202,393
19 $11,156,684 -$4,088,303
-$557,834
$6,510,547
20 $11,714,472 -$4,294,685
-$585,724
$6,834,063
21 $12,300,288 -$4,511,437
-$615,014
$7,173,837
22 $12,915,364 -$4,739,015
-$645,768
$7,530,581
23 $13,560,932 -$4,977,875
-$678,047
$7,905,010
24 $14,239,148 -$5,228,815
-$711,957
$8,298,376
25 $14,950,936 -$5,492,177
-$747,547
$8,711,212
26 $15,698,760 -$5,768,872
-$784,938
$9,144,950
27 $16,483,544 -$6,059,242
-$824,177
$9,600,125
28 $17,307,752 -$6,364,199
-$865,388
$10,078,165
29 $18,173,232 -$6,684,426
-$908,662
$10,580,144
30 $19,081,832 -$7,020,608
-$954,092
$11,107,132
3
0
8
Cash Option: $137.7 Million
Next Draw: Mon Jul 21
Powerball
Sat Jul 19, 2025
284851616920

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