Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 8, 2025 is estimated to be $320 Million, with a cash option of 150.8 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 Sat Mar 8, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 8, 2025	$320,000,000	$150,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$150,800,000
Federal Tax(24%)	$36,192,000
Additional Federal Tax	$19,564,330
State Tax(5%)	$7,540,000
Net Lumpsum Payment	$87,503,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,816,320	-$1,742,369 -$240,816	$2,833,135
2	$5,057,280	-$1,831,524 -$252,864	$2,972,892
3	$5,310,080	-$1,925,060 -$265,504	$3,119,516
4	$5,575,680	-$2,023,332 -$278,784	$3,273,564
5	$5,854,400	-$2,126,458 -$292,720	$3,435,222
6	$6,147,200	-$2,234,794 -$307,360	$3,605,046
7	$6,454,400	-$2,348,458 -$322,720	$3,783,222
8	$6,777,280	-$2,467,924 -$338,864	$3,970,492
9	$7,116,160	-$2,593,310 -$355,808	$4,167,042
10	$7,472,000	-$2,724,970 -$373,600	$4,373,430
11	$7,845,440	-$2,863,143 -$392,272	$4,590,025
12	$8,237,760	-$3,008,302 -$411,888	$4,817,570
13	$8,649,600	-$3,160,682 -$432,480	$5,056,438
14	$9,082,240	-$3,320,759 -$454,112	$5,307,369
15	$9,536,320	-$3,488,769 -$476,816	$5,570,735
16	$10,013,120	-$3,665,185 -$500,656	$5,847,279
17	$10,513,600	-$3,850,362 -$525,680	$6,137,558
18	$11,039,360	-$4,044,894 -$551,968	$6,442,498
19	$11,591,360	-$4,249,134 -$579,568	$6,762,658
20	$12,170,880	-$4,463,556 -$608,544	$7,098,780
21	$12,779,520	-$4,688,753 -$638,976	$7,451,791
22	$13,418,560	-$4,925,198 -$670,928	$7,822,434
23	$14,089,280	-$5,173,364 -$704,464	$8,211,452
24	$14,793,920	-$5,434,081 -$739,696	$8,620,143
25	$15,533,440	-$5,707,703 -$776,672	$9,049,065
26	$16,310,400	-$5,995,178 -$815,520	$9,499,702
27	$17,125,760	-$6,296,862 -$856,288	$9,972,610
28	$17,982,080	-$6,613,700 -$899,104	$10,469,276
29	$18,881,280	-$6,946,404 -$944,064	$10,990,812
30	$19,825,280	-$7,295,684 -$991,264	$11,538,332