Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Sep 30, 2026 is estimated to be $409 Million, with a cash option of 170.2 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 Wed Sep 30, 2026

Draw Date	Jackpot	Cash Option
Wed Sep 30, 2026	$409,000,000	$170,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$170,200,000
Federal Tax(24%)	$40,848,000
Additional Federal Tax	$22,086,330
State Tax(5%)	$8,510,000
Net Lumpsum Payment	$98,755,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,155,859	-$2,237,998 -$307,793	$3,610,068
2	$6,463,836	-$2,351,950 -$323,192	$3,788,694
3	$6,786,946	-$2,471,500 -$339,347	$3,976,099
4	$7,126,416	-$2,597,104 -$356,321	$4,172,991
5	$7,482,655	-$2,728,913 -$374,133	$4,379,609
6	$7,856,890	-$2,867,380 -$392,845	$4,596,665
7	$8,249,530	-$3,012,656 -$412,477	$4,824,397
8	$8,662,211	-$3,165,348 -$433,111	$5,063,752
9	$9,095,342	-$3,325,607 -$454,767	$5,314,968
10	$9,550,150	-$3,493,886 -$477,508	$5,578,756
11	$10,027,453	-$3,670,488 -$501,373	$5,855,592
12	$10,528,887	-$3,856,019 -$526,444	$6,146,424
13	$11,055,270	-$4,050,780 -$552,764	$6,451,726
14	$11,608,238	-$4,255,378 -$580,412	$6,772,448
15	$12,188,609	-$4,470,116 -$609,430	$7,109,063
16	$12,798,019	-$4,695,597 -$639,901	$7,462,521
17	$13,437,695	-$4,932,278 -$671,885	$7,833,532
18	$14,109,682	-$5,180,913 -$705,484	$8,223,285
19	$14,815,207	-$5,441,957 -$740,760	$8,632,490
20	$15,555,906	-$5,716,016 -$777,795	$9,062,095
21	$16,333,824	-$6,003,845 -$816,691	$9,513,288
22	$17,150,597	-$6,306,051 -$857,530	$9,987,016
23	$18,007,861	-$6,623,239 -$900,393	$10,484,229
24	$18,908,479	-$6,956,468 -$945,424	$11,006,587
25	$19,853,678	-$7,306,191 -$992,684	$11,554,803
26	$20,846,730	-$7,673,620 -$1,042,337	$12,130,773
27	$21,888,862	-$8,059,209 -$1,094,443	$12,735,210
28	$22,983,346	-$8,464,168 -$1,149,167	$13,370,011
29	$24,132,636	-$8,889,406 -$1,206,632	$14,036,598
30	$25,339,186	-$9,335,829 -$1,266,959	$14,736,398