The jackpot for the Powerball draw on Sat Apr 26, 2025, is projected to be $168 Million, with an option for a cash payout of $77.1 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Iowa residents, the state will deduct 5% from your lottery earnings.
Iowa Powerball Jackpot/Cash Option for Sat Apr 26, 2025 |
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Draw Date | Sat Apr 26, 2025 | Projected Jackpot | $168,000,000 | Cash Value | $77,100,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $77,100,000 | Federal Tax(24%) | $18,504,000 | Additional Federal Tax | $9,983,330 | State Tax(5%) | $3,855,000 | Net Lumpsum Payment | $44,757,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,528,568 |
$895,901 $126,428 |
$1,506,239 |
2 |
$2,655,072 |
$942,707 $132,754 |
$1,579,611 |
3 |
$2,787,792 |
$991,813 $139,390 |
$1,656,589 |
4 |
$2,927,232 |
$1,043,406 $146,362 |
$1,737,464 |
5 |
$3,073,560 |
$1,097,548 $153,678 |
$1,822,334 |
6 |
$3,227,280 |
$1,154,424 $161,364 |
$1,911,492 |
7 |
$3,388,560 |
$1,214,098 $169,428 |
$2,005,034 |
8 |
$3,558,072 |
$1,276,817 $177,904 |
$2,103,351 |
9 |
$3,735,984 |
$1,342,644 $186,799 |
$2,206,541 |
10 |
$3,922,800 |
$1,411,766 $196,140 |
$2,314,894 |
11 |
$4,118,856 |
$1,484,307 $205,943 |
$2,428,606 |
12 |
$4,324,824 |
$1,560,515 $216,241 |
$2,548,068 |
13 |
$4,541,040 |
$1,640,515 $227,052 |
$2,673,473 |
14 |
$4,768,176 |
$1,724,556 $238,409 |
$2,805,211 |
15 |
$5,006,568 |
$1,812,761 $250,328 |
$2,943,479 |
16 |
$5,256,888 |
$1,905,379 $262,844 |
$3,088,665 |
17 |
$5,519,640 |
$2,002,597 $275,982 |
$3,241,061 |
18 |
$5,795,664 |
$2,104,726 $289,783 |
$3,401,155 |
19 |
$6,085,464 |
$2,211,952 $304,273 |
$3,569,239 |
20 |
$6,389,712 |
$2,324,524 $319,486 |
$3,745,702 |
21 |
$6,709,248 |
$2,442,752 $335,462 |
$3,931,034 |
22 |
$7,044,744 |
$2,566,886 $352,237 |
$4,125,621 |
23 |
$7,396,872 |
$2,697,173 $369,844 |
$4,329,855 |
24 |
$7,766,808 |
$2,834,049 $388,340 |
$4,544,419 |
25 |
$8,155,056 |
$2,977,701 $407,753 |
$4,769,602 |
26 |
$8,562,960 |
$3,128,626 $428,148 |
$5,006,186 |
27 |
$8,991,024 |
$3,287,009 $449,551 |
$5,254,464 |
28 |
$9,440,592 |
$3,453,349 $472,030 |
$5,515,213 |
29 |
$9,912,672 |
$3,628,019 $495,634 |
$5,789,019 |
30 |
$10,408,272 |
$3,811,391 $520,414 |
$6,076,467 |
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