The jackpot for the MEGA Millions draw on Fri Oct 31, 2025, is projected to be $754 Million, with an option for a cash payout of $352.8 Million. Should you be the lucky winner of the MEGA Millions 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 MEGA Millions Jackpot/Cash Option for Fri Oct 31, 2025 |
|---|
| Draw Date | Fri Oct 31, 2025 | | Projected Jackpot | $754,000,000 | | Cash Value | $352,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $352,800,000 | | Federal Tax(24%) | $84,672,000 | | Additional Federal Tax | $45,824,330 | | State Tax(5%) | $17,640,000 | | Net Lumpsum Payment | $204,663,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,348,454 |
$4,159,258
$567,423 |
$6,621,773 |
| 2 |
$11,916,216 |
$4,369,330
$595,811 |
$6,951,075 |
| 3 |
$12,511,876 |
$4,589,725
$625,594 |
$7,296,557 |
| 4 |
$13,137,696 |
$4,821,278
$656,885 |
$7,659,533 |
| 5 |
$13,794,430 |
$5,064,269
$689,722 |
$8,040,439 |
| 6 |
$14,484,340 |
$5,319,536
$724,217 |
$8,440,587 |
| 7 |
$15,208,180 |
$5,587,357
$760,409 |
$8,860,414 |
| 8 |
$15,968,966 |
$5,868,848
$798,448 |
$9,301,670 |
| 9 |
$16,767,452 |
$6,164,288
$838,373 |
$9,764,791 |
| 10 |
$17,605,900 |
$6,474,513
$880,295 |
$10,251,092 |
| 11 |
$18,485,818 |
$6,800,083
$924,291 |
$10,761,444 |
| 12 |
$19,410,222 |
$7,142,113
$970,511 |
$11,297,598 |
| 13 |
$20,380,620 |
$7,501,160
$1,019,031 |
$11,860,429 |
| 14 |
$21,400,028 |
$7,878,341
$1,070,001 |
$12,451,686 |
| 15 |
$22,469,954 |
$8,274,213
$1,123,498 |
$13,072,243 |
| 16 |
$23,593,414 |
$8,689,894
$1,179,671 |
$13,723,849 |
| 17 |
$24,772,670 |
$9,126,218
$1,238,634 |
$14,407,818 |
| 18 |
$26,011,492 |
$9,584,582
$1,300,575 |
$15,126,335 |
| 19 |
$27,312,142 |
$10,065,823
$1,365,607 |
$15,880,712 |
| 20 |
$28,677,636 |
$10,571,056
$1,433,882 |
$16,672,698 |
| 21 |
$30,111,744 |
$11,101,676
$1,505,587 |
$17,504,481 |
| 22 |
$31,617,482 |
$11,658,799
$1,580,874 |
$18,377,809 |
| 23 |
$33,197,866 |
$12,243,541
$1,659,893 |
$19,294,432 |
| 24 |
$34,858,174 |
$12,857,855
$1,742,909 |
$20,257,410 |
| 25 |
$36,600,668 |
$13,502,578
$1,830,033 |
$21,268,057 |
| 26 |
$38,431,380 |
$14,179,941
$1,921,569 |
$22,329,870 |
| 27 |
$40,352,572 |
$14,890,782
$2,017,629 |
$23,444,161 |
| 28 |
$42,370,276 |
$15,637,333
$2,118,514 |
$24,614,429 |
| 29 |
$44,489,016 |
$16,421,266
$2,224,451 |
$25,843,299 |
| 30 |
$46,713,316 |
$17,244,257
$2,335,666 |
$27,133,393 |
|
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