Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 23, 2026 is estimated to be $133 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 Mar 23, 2026

Draw Date	Jackpot	Cash Option
Mon Mar 23, 2026	$133,000,000	$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	$2,001,783	-$700,990 -$100,089	$1,200,704
2	$2,101,932	-$738,045 -$105,097	$1,258,790
3	$2,207,002	-$776,921 -$110,350	$1,319,731
4	$2,317,392	-$817,765 -$115,870	$1,383,757
5	$2,433,235	-$860,627 -$121,662	$1,450,946
6	$2,554,930	-$905,654 -$127,747	$1,521,529
7	$2,682,610	-$952,896 -$134,131	$1,595,583
8	$2,816,807	-$1,002,549 -$140,840	$1,673,418
9	$2,957,654	-$1,054,662 -$147,883	$1,755,109
10	$3,105,550	-$1,109,384 -$155,278	$1,840,888
11	$3,260,761	-$1,166,812 -$163,038	$1,930,911
12	$3,423,819	-$1,227,143 -$171,191	$2,025,485
13	$3,594,990	-$1,290,477 -$179,750	$2,124,763
14	$3,774,806	-$1,357,009 -$188,740	$2,229,057
15	$3,963,533	-$1,426,838 -$198,177	$2,338,518
16	$4,161,703	-$1,500,160 -$208,085	$2,453,458
17	$4,369,715	-$1,577,125 -$218,486	$2,574,104
18	$4,588,234	-$1,657,977 -$229,412	$2,700,845
19	$4,817,659	-$1,742,864 -$240,883	$2,833,912
20	$5,058,522	-$1,831,984 -$252,926	$2,973,612
21	$5,311,488	-$1,925,581 -$265,574	$3,120,333
22	$5,577,089	-$2,023,853 -$278,854	$3,274,382
23	$5,855,857	-$2,126,997 -$292,793	$3,436,067
24	$6,148,723	-$2,235,358 -$307,436	$3,605,929
25	$6,456,086	-$2,349,082 -$322,804	$3,784,200
26	$6,779,010	-$2,468,564 -$338,951	$3,971,495
27	$7,117,894	-$2,593,951 -$355,895	$4,168,048
28	$7,473,802	-$2,725,637 -$373,690	$4,374,475
29	$7,847,532	-$2,863,917 -$392,377	$4,591,238
30	$8,239,882	-$3,009,087 -$411,994	$4,818,801