Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 15, 2026 is estimated to be $269 Million, with a cash option of 120.5 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 Jun 15, 2026

Draw Date	Jackpot	Cash Option
Mon Jun 15, 2026	$269,000,000	$120,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,500,000
Federal Tax(24%)	$28,920,000
Additional Federal Tax	$15,625,330
State Tax(5%)	$6,025,000
Net Lumpsum Payment	$69,929,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,048,719	-$1,458,356 -$202,436	$2,387,927
2	$4,251,276	-$1,533,303 -$212,564	$2,505,409
3	$4,463,786	-$1,611,931 -$223,189	$2,628,666
4	$4,687,056	-$1,694,541 -$234,353	$2,758,162
5	$4,921,355	-$1,781,232 -$246,068	$2,894,055
6	$5,167,490	-$1,872,302 -$258,375	$3,036,813
7	$5,425,730	-$1,967,850 -$271,287	$3,186,593
8	$5,697,151	-$2,068,276 -$284,858	$3,344,017
9	$5,982,022	-$2,173,679 -$299,101	$3,509,242
10	$6,281,150	-$2,284,356 -$314,058	$3,682,736
11	$6,595,073	-$2,400,507 -$329,754	$3,864,812
12	$6,924,867	-$2,522,531 -$346,243	$4,056,093
13	$7,271,070	-$2,650,626 -$363,554	$4,256,890
14	$7,634,758	-$2,785,191 -$381,738	$4,467,829
15	$8,016,469	-$2,926,424 -$400,823	$4,689,222
16	$8,417,279	-$3,074,724 -$420,864	$4,921,691
17	$8,837,995	-$3,230,389 -$441,900	$5,165,706
18	$9,279,962	-$3,393,916 -$463,998	$5,422,048
19	$9,743,987	-$3,565,606 -$487,199	$5,691,182
20	$10,231,146	-$3,745,854 -$511,557	$5,973,735
21	$10,742,784	-$3,935,160 -$537,139	$6,270,485
22	$11,279,977	-$4,133,922 -$563,999	$6,582,056
23	$11,843,801	-$4,342,537 -$592,190	$6,909,074
24	$12,436,139	-$4,561,702 -$621,807	$7,252,630
25	$13,057,798	-$4,791,716 -$652,890	$7,613,192
26	$13,710,930	-$5,033,374 -$685,547	$7,992,009
27	$14,396,342	-$5,286,977 -$719,817	$8,389,548
28	$15,116,186	-$5,553,319 -$755,809	$8,807,058
29	$15,872,076	-$5,832,999 -$793,604	$9,245,473
30	$16,665,626	-$6,126,612 -$833,281	$9,705,733