The jackpot for the Powerball draw on Wed Dec 24, 2025, is projected to be $1.70 Billion, with an option for a cash payout of $781.3 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 Wed Dec 24, 2025 |
|---|
| Draw Date | Wed Dec 24, 2025 | | Projected Jackpot | $1,700,000,000 | | Cash Value | $781,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $781,300,000 | | Federal Tax(24%) | $187,512,000 | | Additional Federal Tax | $101,529,330 | | State Tax(5%) | $39,065,000 | | Net Lumpsum Payment | $453,193,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$25,586,700 |
$9,427,409
$1,279,335 |
$14,879,956 |
| 2 |
$26,866,800 |
$9,901,046
$1,343,340 |
$15,622,414 |
| 3 |
$28,209,800 |
$10,397,956
$1,410,490 |
$16,401,354 |
| 4 |
$29,620,800 |
$10,920,026
$1,481,040 |
$17,219,734 |
| 5 |
$31,101,500 |
$11,467,885
$1,555,075 |
$18,078,540 |
| 6 |
$32,657,000 |
$12,043,420
$1,632,850 |
$18,980,730 |
| 7 |
$34,289,000 |
$12,647,260
$1,714,450 |
$19,927,290 |
| 8 |
$36,004,300 |
$13,281,921
$1,800,215 |
$20,922,164 |
| 9 |
$37,804,600 |
$13,948,032
$1,890,230 |
$21,966,338 |
| 10 |
$39,695,000 |
$14,647,480
$1,984,750 |
$23,062,770 |
| 11 |
$41,678,900 |
$15,381,523
$2,083,945 |
$24,213,432 |
| 12 |
$43,763,100 |
$16,152,677
$2,188,155 |
$25,422,268 |
| 13 |
$45,951,000 |
$16,962,200
$2,297,550 |
$26,691,250 |
| 14 |
$48,249,400 |
$17,812,608
$2,412,470 |
$28,024,322 |
| 15 |
$50,661,700 |
$18,705,159
$2,533,085 |
$29,423,456 |
| 16 |
$53,194,700 |
$19,642,369
$2,659,735 |
$30,892,596 |
| 17 |
$55,853,500 |
$20,626,125
$2,792,675 |
$32,434,700 |
| 18 |
$58,646,600 |
$21,659,572
$2,932,330 |
$34,054,698 |
| 19 |
$61,579,100 |
$22,744,597
$3,078,955 |
$35,755,548 |
| 20 |
$64,657,800 |
$23,883,716
$3,232,890 |
$37,541,194 |
| 21 |
$67,891,200 |
$25,080,074
$3,394,560 |
$39,416,566 |
| 22 |
$71,286,100 |
$26,336,187
$3,564,305 |
$41,385,608 |
| 23 |
$74,849,300 |
$27,654,571
$3,742,465 |
$43,452,264 |
| 24 |
$78,592,700 |
$29,039,629
$3,929,635 |
$45,623,436 |
| 25 |
$82,521,400 |
$30,493,248
$4,126,070 |
$47,902,082 |
| 26 |
$86,649,000 |
$32,020,460
$4,332,450 |
$50,296,090 |
| 27 |
$90,980,600 |
$33,623,152
$4,549,030 |
$52,808,418 |
| 28 |
$95,529,800 |
$35,306,356
$4,776,490 |
$55,446,954 |
| 29 |
$100,306,800 |
$37,073,846
$5,015,340 |
$58,217,614 |
| 30 |
$105,321,800 |
$38,929,396
$5,266,090 |
$61,126,314 |
|
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