The jackpot for the Powerball draw on Mon Sep 21, 2026, is projected to be $313 Million, with an option for a cash payout of $133.6 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 Mon Sep 21, 2026 |
|---|
| Draw Date | Mon Sep 21, 2026 | | Projected Jackpot | $313,000,000 | | Cash Value | $133,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $133,600,000 | | Federal Tax(24%) | $32,064,000 | | Additional Federal Tax | $17,328,330 | | State Tax(5%) | $6,680,000 | | Net Lumpsum Payment | $77,527,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,710,963 |
$1,703,387
$235,548 |
$2,772,028 |
| 2 |
$4,946,652 |
$1,790,592
$247,333 |
$2,908,727 |
| 3 |
$5,193,922 |
$1,882,082
$259,696 |
$3,052,144 |
| 4 |
$5,453,712 |
$1,978,204
$272,686 |
$3,202,822 |
| 5 |
$5,726,335 |
$2,079,074
$286,317 |
$3,360,944 |
| 6 |
$6,012,730 |
$2,185,040
$300,637 |
$3,527,053 |
| 7 |
$6,313,210 |
$2,296,218
$315,661 |
$3,701,331 |
| 8 |
$6,629,027 |
$2,413,070
$331,451 |
$3,884,506 |
| 9 |
$6,960,494 |
$2,535,713
$348,025 |
$4,076,756 |
| 10 |
$7,308,550 |
$2,664,494
$365,428 |
$4,278,628 |
| 11 |
$7,673,821 |
$2,799,644
$383,691 |
$4,490,486 |
| 12 |
$8,057,559 |
$2,941,627
$402,878 |
$4,713,054 |
| 13 |
$8,460,390 |
$3,090,675
$423,020 |
$4,946,695 |
| 14 |
$8,883,566 |
$3,247,250
$444,178 |
$5,192,138 |
| 15 |
$9,327,713 |
$3,411,584
$466,386 |
$5,449,743 |
| 16 |
$9,794,083 |
$3,584,141
$489,704 |
$5,720,238 |
| 17 |
$10,283,615 |
$3,765,268
$514,181 |
$6,004,166 |
| 18 |
$10,797,874 |
$3,955,544
$539,894 |
$6,302,436 |
| 19 |
$11,337,799 |
$4,155,316
$566,890 |
$6,615,593 |
| 20 |
$11,904,642 |
$4,365,048
$595,232 |
$6,944,362 |
| 21 |
$12,499,968 |
$4,585,319
$624,998 |
$7,289,651 |
| 22 |
$13,125,029 |
$4,816,591
$656,251 |
$7,652,187 |
| 23 |
$13,781,077 |
$5,059,329
$689,054 |
$8,032,694 |
| 24 |
$14,470,303 |
$5,314,342
$723,515 |
$8,432,446 |
| 25 |
$15,193,646 |
$5,581,979
$759,682 |
$8,851,985 |
| 26 |
$15,953,610 |
$5,863,166
$797,681 |
$9,292,763 |
| 27 |
$16,751,134 |
$6,158,250
$837,557 |
$9,755,327 |
| 28 |
$17,588,722 |
$6,468,158
$879,436 |
$10,241,128 |
| 29 |
$18,468,252 |
$6,793,584
$923,413 |
$10,751,255 |
| 30 |
$19,391,602 |
$7,135,223
$969,580 |
$11,286,799 |
|
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