Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Oct 26, 2026 is estimated to be $687 Million, with a cash option of 294.7 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 Oct 26, 2026

Draw Date	Jackpot	Cash Option
Mon Oct 26, 2026	$687,000,000	$294,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$294,700,000
Federal Tax(24%)	$70,728,000
Additional Federal Tax	$38,271,330
State Tax(5%)	$14,735,000
Net Lumpsum Payment	$170,965,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,340,037	-$3,786,144 -$517,002	$6,036,891
2	$10,857,348	-$3,977,549 -$542,867	$6,336,932
3	$11,400,078	-$4,178,359 -$570,004	$6,651,715
4	$11,970,288	-$4,389,337 -$598,514	$6,982,437
5	$12,568,665	-$4,610,736 -$628,433	$7,329,496
6	$13,197,270	-$4,843,320 -$659,864	$7,694,086
7	$13,856,790	-$5,087,343 -$692,840	$8,076,607
8	$14,549,973	-$5,343,820 -$727,499	$8,478,654
9	$15,277,506	-$5,613,008 -$763,875	$8,900,623
10	$16,041,450	-$5,895,667 -$802,073	$9,343,710
11	$16,843,179	-$6,192,307 -$842,159	$9,808,713
12	$17,685,441	-$6,503,944 -$884,272	$10,297,225
13	$18,569,610	-$6,831,086 -$928,481	$10,810,043
14	$19,498,434	-$7,174,751 -$974,922	$11,348,761
15	$20,473,287	-$7,535,447 -$1,023,664	$11,914,176
16	$21,496,917	-$7,914,190 -$1,074,846	$12,507,881
17	$22,571,385	-$8,311,743 -$1,128,569	$13,131,073
18	$23,700,126	-$8,729,377 -$1,185,006	$13,785,743
19	$24,885,201	-$9,167,855 -$1,244,260	$14,473,086
20	$26,129,358	-$9,628,193 -$1,306,468	$15,194,697
21	$27,436,032	-$10,111,662 -$1,371,802	$15,952,568
22	$28,807,971	-$10,619,280 -$1,440,399	$16,748,292
23	$30,247,923	-$11,152,062 -$1,512,396	$17,583,465
24	$31,760,697	-$11,711,788 -$1,588,035	$18,460,874
25	$33,348,354	-$12,299,221 -$1,667,418	$19,381,715
26	$35,016,390	-$12,916,395 -$1,750,820	$20,349,175
27	$36,766,866	-$13,564,071 -$1,838,343	$21,364,452
28	$38,605,278	-$14,244,283 -$1,930,264	$22,430,731
29	$40,535,748	-$14,958,557 -$2,026,787	$23,550,404
30	$42,562,398	-$15,708,418 -$2,128,120	$24,725,860