Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon May 19, 2025 is estimated to be $134 Million, with a cash option of 60.3 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 May 19, 2025

Draw Date	Jackpot	Cash Option
Mon May 19, 2025	$134,000,000	$60,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$60,300,000
Federal Tax(24%)	$14,472,000
Additional Federal Tax	$7,799,330
State Tax(5%)	$3,015,000
Net Lumpsum Payment	$35,013,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,016,834	-$706,559 -$100,842	$1,209,433
2	$2,117,736	-$743,893 -$105,887	$1,267,956
3	$2,223,596	-$783,061 -$111,180	$1,329,355
4	$2,334,816	-$824,212 -$116,741	$1,393,863
5	$2,451,530	-$867,396 -$122,577	$1,461,557
6	$2,574,140	-$912,762 -$128,707	$1,532,671
7	$2,702,780	-$960,359 -$135,139	$1,607,282
8	$2,837,986	-$1,010,385 -$141,899	$1,685,702
9	$2,979,892	-$1,062,890 -$148,995	$1,768,007
10	$3,128,900	-$1,118,023 -$156,445	$1,854,432
11	$3,285,278	-$1,175,883 -$164,264	$1,945,131
12	$3,449,562	-$1,236,668 -$172,478	$2,040,416
13	$3,622,020	-$1,300,478 -$181,101	$2,140,441
14	$3,803,188	-$1,367,510 -$190,159	$2,245,519
15	$3,993,334	-$1,437,864 -$199,667	$2,355,803
16	$4,192,994	-$1,511,738 -$209,650	$2,471,606
17	$4,402,570	-$1,589,281 -$220,129	$2,593,160
18	$4,622,732	-$1,670,741 -$231,137	$2,720,854
19	$4,853,882	-$1,756,267 -$242,694	$2,854,921
20	$5,096,556	-$1,846,056 -$254,828	$2,995,672
21	$5,351,424	-$1,940,357 -$267,571	$3,143,496
22	$5,619,022	-$2,039,369 -$280,951	$3,298,702
23	$5,899,886	-$2,143,288 -$294,994	$3,461,604
24	$6,194,954	-$2,252,463 -$309,748	$3,632,743
25	$6,504,628	-$2,367,043 -$325,231	$3,812,354
26	$6,829,980	-$2,487,423 -$341,499	$4,001,058
27	$7,171,412	-$2,613,753 -$358,571	$4,199,088
28	$7,529,996	-$2,746,429 -$376,500	$4,407,067
29	$7,906,536	-$2,885,749 -$395,327	$4,625,460
30	$8,301,836	-$3,032,010 -$415,092	$4,854,734