The jackpot for the MEGA Millions draw on Tue Aug 5, 2025, is projected to be $150 Million, with an option for a cash payout of $67.9 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 Tue Aug 5, 2025 |
|---|
| Draw Date | Tue Aug 5, 2025 | | Projected Jackpot | $150,000,000 | | Cash Value | $67,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $67,900,000 | | Federal Tax(24%) | $16,296,000 | | Additional Federal Tax | $8,787,330 | | State Tax(5%) | $3,395,000 | | Net Lumpsum Payment | $39,421,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,257,650 |
$795,661
$112,883 |
$1,349,106 |
| 2 |
$2,370,600 |
$837,452
$118,530 |
$1,414,618 |
| 3 |
$2,489,100 |
$881,297
$124,455 |
$1,483,348 |
| 4 |
$2,613,600 |
$927,362
$130,680 |
$1,555,558 |
| 5 |
$2,744,250 |
$975,703
$137,213 |
$1,631,334 |
| 6 |
$2,881,500 |
$1,026,485
$144,075 |
$1,710,940 |
| 7 |
$3,025,500 |
$1,079,765
$151,275 |
$1,794,460 |
| 8 |
$3,176,850 |
$1,135,765
$158,843 |
$1,882,242 |
| 9 |
$3,335,700 |
$1,194,539
$166,785 |
$1,974,376 |
| 10 |
$3,502,500 |
$1,256,255
$175,125 |
$2,071,120 |
| 11 |
$3,677,550 |
$1,321,024
$183,878 |
$2,172,648 |
| 12 |
$3,861,450 |
$1,389,067
$193,073 |
$2,279,310 |
| 13 |
$4,054,500 |
$1,460,495
$202,725 |
$2,391,280 |
| 14 |
$4,257,300 |
$1,535,531
$212,865 |
$2,508,904 |
| 15 |
$4,470,150 |
$1,614,286
$223,508 |
$2,632,356 |
| 16 |
$4,693,650 |
$1,696,981
$234,683 |
$2,761,986 |
| 17 |
$4,928,250 |
$1,783,783
$246,413 |
$2,898,054 |
| 18 |
$5,174,700 |
$1,874,969
$258,735 |
$3,040,996 |
| 19 |
$5,433,450 |
$1,970,707
$271,673 |
$3,191,070 |
| 20 |
$5,705,100 |
$2,071,217
$285,255 |
$3,348,628 |
| 21 |
$5,990,400 |
$2,176,778
$299,520 |
$3,514,102 |
| 22 |
$6,289,950 |
$2,287,612
$314,498 |
$3,687,840 |
| 23 |
$6,604,350 |
$2,403,940
$330,218 |
$3,870,192 |
| 24 |
$6,934,650 |
$2,526,151
$346,733 |
$4,061,766 |
| 25 |
$7,281,300 |
$2,654,411
$364,065 |
$4,262,824 |
| 26 |
$7,645,500 |
$2,789,165
$382,275 |
$4,474,060 |
| 27 |
$8,027,700 |
$2,930,579
$401,385 |
$4,695,736 |
| 28 |
$8,429,100 |
$3,079,097
$421,455 |
$4,928,548 |
| 29 |
$8,850,600 |
$3,235,052
$442,530 |
$5,173,018 |
| 30 |
$9,293,100 |
$3,398,777
$464,655 |
$5,429,668 |
|
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