Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Apr 9, 2025 is estimated to be $65 Million, with a cash option of 31.4 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 Apr 9, 2025

Draw Date	Jackpot	Cash Option
Wed Apr 9, 2025	$65,000,000	$31,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$31,400,000
Federal Tax(24%)	$7,536,000
Additional Federal Tax	$4,042,330
State Tax(5%)	$1,570,000
Net Lumpsum Payment	$18,251,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$978,315	-$322,307 -$48,916	$607,092
2	$1,027,260	-$340,417 -$51,363	$635,480
3	$1,078,610	-$359,416 -$53,931	$665,263
4	$1,132,560	-$379,378 -$56,628	$696,554
5	$1,189,175	-$400,325 -$59,459	$729,391
6	$1,248,650	-$422,331 -$62,433	$763,886
7	$1,311,050	-$445,419 -$65,553	$800,078
8	$1,376,635	-$469,685 -$68,832	$838,118
9	$1,445,470	-$495,154 -$72,274	$878,042
10	$1,517,750	-$521,898 -$75,888	$919,964
11	$1,593,605	-$549,964 -$79,680	$963,961
12	$1,673,295	-$579,450 -$83,665	$1,010,180
13	$1,756,950	-$610,402 -$87,848	$1,058,700
14	$1,844,830	-$642,917 -$92,242	$1,109,671
15	$1,937,065	-$677,044 -$96,853	$1,163,168
16	$2,033,915	-$712,879 -$101,696	$1,219,340
17	$2,135,575	-$750,493 -$106,779	$1,278,303
18	$2,242,370	-$790,007 -$112,119	$1,340,244
19	$2,354,495	-$831,494 -$117,725	$1,405,276
20	$2,472,210	-$875,048 -$123,611	$1,473,551
21	$2,595,840	-$920,791 -$129,792	$1,545,257
22	$2,725,645	-$968,819 -$136,282	$1,620,544
23	$2,861,885	-$1,019,228 -$143,094	$1,699,563
24	$3,005,015	-$1,072,186 -$150,251	$1,782,578
25	$3,155,230	-$1,127,765 -$157,762	$1,869,703
26	$3,313,050	-$1,186,159 -$165,653	$1,961,238
27	$3,478,670	-$1,247,438 -$173,934	$2,057,298
28	$3,652,610	-$1,311,796 -$182,631	$2,158,183
29	$3,835,260	-$1,379,377 -$191,763	$2,264,120
30	$4,027,010	-$1,450,324 -$201,351	$2,375,335