Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jul 21, 2025 is estimated to be $308 Million, with a cash option of 137.7 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 Jul 21, 2025

Draw Date	Jackpot	Cash Option
Mon Jul 21, 2025	$308,000,000	$137,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$137,700,000
Federal Tax(24%)	$33,048,000
Additional Federal Tax	$17,861,330
State Tax(5%)	$6,885,000
Net Lumpsum Payment	$79,905,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,635,708	-$1,675,542 -$231,785	$2,728,381
2	$4,867,632	-$1,761,354 -$243,382	$2,862,896
3	$5,110,952	-$1,851,383 -$255,548	$3,004,021
4	$5,366,592	-$1,945,969 -$268,330	$3,152,293
5	$5,634,860	-$2,045,229 -$281,743	$3,307,888
6	$5,916,680	-$2,149,502 -$295,834	$3,471,344
7	$6,212,360	-$2,258,904 -$310,618	$3,642,838
8	$6,523,132	-$2,373,889 -$326,157	$3,823,086
9	$6,849,304	-$2,494,573 -$342,465	$4,012,266
10	$7,191,800	-$2,621,296 -$359,590	$4,210,914
11	$7,551,236	-$2,754,288 -$377,562	$4,419,386
12	$7,928,844	-$2,894,003 -$396,442	$4,638,399
13	$8,325,240	-$3,040,669 -$416,262	$4,868,309
14	$8,741,656	-$3,194,743 -$437,083	$5,109,830
15	$9,178,708	-$3,356,452 -$458,935	$5,363,321
16	$9,637,628	-$3,526,253 -$481,881	$5,629,494
17	$10,119,340	-$3,704,486 -$505,967	$5,908,887
18	$10,625,384	-$3,891,722 -$531,269	$6,202,393
19	$11,156,684	-$4,088,303 -$557,834	$6,510,547
20	$11,714,472	-$4,294,685 -$585,724	$6,834,063
21	$12,300,288	-$4,511,437 -$615,014	$7,173,837
22	$12,915,364	-$4,739,015 -$645,768	$7,530,581
23	$13,560,932	-$4,977,875 -$678,047	$7,905,010
24	$14,239,148	-$5,228,815 -$711,957	$8,298,376
25	$14,950,936	-$5,492,177 -$747,547	$8,711,212
26	$15,698,760	-$5,768,872 -$784,938	$9,144,950
27	$16,483,544	-$6,059,242 -$824,177	$9,600,125
28	$17,307,752	-$6,364,199 -$865,388	$10,078,165
29	$18,173,232	-$6,684,426 -$908,662	$10,580,144
30	$19,081,832	-$7,020,608 -$954,092	$11,107,132