The jackpot for the Powerball draw on Mon Oct 13, 2025, is projected to be $258 Million, with an option for a cash payout of $120.8 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 Oct 13, 2025 |
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Draw Date | Mon Oct 13, 2025 | Projected Jackpot | $258,000,000 | Cash Value | $120,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $120,800,000 | Federal Tax(24%) | $28,992,000 | Additional Federal Tax | $15,664,330 | State Tax(5%) | $6,040,000 | Net Lumpsum Payment | $70,103,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$3,883,158 |
$1,397,099 $194,158 |
$2,291,901 |
2 |
$4,077,432 |
$1,468,980 $203,872 |
$2,404,580 |
3 |
$4,281,252 |
$1,544,394 $214,063 |
$2,522,795 |
4 |
$4,495,392 |
$1,623,625 $224,770 |
$2,646,997 |
5 |
$4,720,110 |
$1,706,771 $236,006 |
$2,777,333 |
6 |
$4,956,180 |
$1,794,117 $247,809 |
$2,914,254 |
7 |
$5,203,860 |
$1,885,759 $260,193 |
$3,057,908 |
8 |
$5,464,182 |
$1,982,078 $273,209 |
$3,208,895 |
9 |
$5,737,404 |
$2,083,170 $286,870 |
$3,367,364 |
10 |
$6,024,300 |
$2,189,321 $301,215 |
$3,533,764 |
11 |
$6,325,386 |
$2,300,723 $316,269 |
$3,708,394 |
12 |
$6,641,694 |
$2,417,757 $332,085 |
$3,891,852 |
13 |
$6,973,740 |
$2,540,614 $348,687 |
$4,084,439 |
14 |
$7,322,556 |
$2,669,676 $366,128 |
$4,286,752 |
15 |
$7,688,658 |
$2,805,134 $384,433 |
$4,499,091 |
16 |
$8,073,078 |
$2,947,369 $403,654 |
$4,722,055 |
17 |
$8,476,590 |
$3,096,669 $423,830 |
$4,956,091 |
18 |
$8,900,484 |
$3,253,509 $445,024 |
$5,201,951 |
19 |
$9,345,534 |
$3,418,178 $467,277 |
$5,460,079 |
20 |
$9,812,772 |
$3,591,056 $490,639 |
$5,731,077 |
21 |
$10,303,488 |
$3,772,621 $515,174 |
$6,015,693 |
22 |
$10,818,714 |
$3,963,255 $540,936 |
$6,314,523 |
23 |
$11,359,482 |
$4,163,339 $567,974 |
$6,628,169 |
24 |
$11,927,598 |
$4,373,542 $596,380 |
$6,957,676 |
25 |
$12,523,836 |
$4,594,150 $626,192 |
$7,303,494 |
26 |
$13,150,260 |
$4,825,927 $657,513 |
$7,666,820 |
27 |
$13,807,644 |
$5,069,159 $690,382 |
$8,048,103 |
28 |
$14,498,052 |
$5,324,610 $724,903 |
$8,448,539 |
29 |
$15,223,032 |
$5,592,852 $761,152 |
$8,869,028 |
30 |
$15,984,132 |
$5,874,459 $799,207 |
$9,310,466 |
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