Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Feb 25, 2026 is estimated to be $218 Million, with a cash option of 101.6 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 Feb 25, 2026

Draw Date	Jackpot	Cash Option
Wed Feb 25, 2026	$218,000,000	$101,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$101,600,000
Federal Tax(24%)	$24,384,000
Additional Federal Tax	$13,168,330
State Tax(5%)	$5,080,000
Net Lumpsum Payment	$58,967,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,281,118	-$1,174,344 -$164,056	$1,942,718
2	$3,445,272	-$1,235,081 -$172,264	$2,037,927
3	$3,617,492	-$1,298,802 -$180,875	$2,137,815
4	$3,798,432	-$1,365,750 -$189,922	$2,242,760
5	$3,988,310	-$1,436,005 -$199,416	$2,352,889
6	$4,187,780	-$1,509,809 -$209,389	$2,468,582
7	$4,397,060	-$1,587,243 -$219,853	$2,589,964
8	$4,617,022	-$1,668,629 -$230,851	$2,717,542
9	$4,847,884	-$1,754,047 -$242,394	$2,851,443
10	$5,090,300	-$1,843,741 -$254,515	$2,992,044
11	$5,344,706	-$1,937,872 -$267,235	$3,139,599
12	$5,611,974	-$2,036,761 -$280,599	$3,294,614
13	$5,892,540	-$2,140,570 -$294,627	$3,457,343
14	$6,187,276	-$2,249,623 -$309,364	$3,628,289
15	$6,496,618	-$2,364,079 -$324,831	$3,807,708
16	$6,821,438	-$2,484,262 -$341,072	$3,996,104
17	$7,162,390	-$2,610,415 -$358,120	$4,193,855
18	$7,520,564	-$2,742,939 -$376,028	$4,401,597
19	$7,896,614	-$2,882,078 -$394,831	$4,619,705
20	$8,291,412	-$3,028,153 -$414,571	$4,848,688
21	$8,706,048	-$3,181,568 -$435,302	$5,089,178
22	$9,141,394	-$3,342,646 -$457,070	$5,341,678
23	$9,598,322	-$3,511,710 -$479,916	$5,606,696
24	$10,078,358	-$3,689,323 -$503,918	$5,885,117
25	$10,582,156	-$3,875,728 -$529,108	$6,177,320
26	$11,111,460	-$4,071,571 -$555,573	$6,484,316
27	$11,666,924	-$4,277,092 -$583,346	$6,806,486
28	$12,250,292	-$4,492,938 -$612,515	$7,144,839
29	$12,862,872	-$4,719,593 -$643,144	$7,500,135
30	$13,505,972	-$4,957,540 -$675,299	$7,873,133