The jackpot for the Powerball draw on Mon Mar 23, 2026, is projected to be $133 Million, with an option for a cash payout of $60.3 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 Mon Mar 23, 2026 |
|---|
| Draw Date | Mon Mar 23, 2026 | | Projected Jackpot | $133,000,000 | | Cash Value | $60,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $60,300,000 | | Federal Tax(24%) | $14,472,000 | | Additional Federal Tax | $7,799,330 | | State Tax(5%) | $3,015,000 | | Net Lumpsum Payment | $35,013,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,001,783 |
$700,990
$100,089 |
$1,200,704 |
| 2 |
$2,101,932 |
$738,045
$105,097 |
$1,258,790 |
| 3 |
$2,207,002 |
$776,921
$110,350 |
$1,319,731 |
| 4 |
$2,317,392 |
$817,765
$115,870 |
$1,383,757 |
| 5 |
$2,433,235 |
$860,627
$121,662 |
$1,450,946 |
| 6 |
$2,554,930 |
$905,654
$127,747 |
$1,521,529 |
| 7 |
$2,682,610 |
$952,896
$134,131 |
$1,595,583 |
| 8 |
$2,816,807 |
$1,002,549
$140,840 |
$1,673,418 |
| 9 |
$2,957,654 |
$1,054,662
$147,883 |
$1,755,109 |
| 10 |
$3,105,550 |
$1,109,384
$155,278 |
$1,840,888 |
| 11 |
$3,260,761 |
$1,166,812
$163,038 |
$1,930,911 |
| 12 |
$3,423,819 |
$1,227,143
$171,191 |
$2,025,485 |
| 13 |
$3,594,990 |
$1,290,477
$179,750 |
$2,124,763 |
| 14 |
$3,774,806 |
$1,357,009
$188,740 |
$2,229,057 |
| 15 |
$3,963,533 |
$1,426,838
$198,177 |
$2,338,518 |
| 16 |
$4,161,703 |
$1,500,160
$208,085 |
$2,453,458 |
| 17 |
$4,369,715 |
$1,577,125
$218,486 |
$2,574,104 |
| 18 |
$4,588,234 |
$1,657,977
$229,412 |
$2,700,845 |
| 19 |
$4,817,659 |
$1,742,864
$240,883 |
$2,833,912 |
| 20 |
$5,058,522 |
$1,831,984
$252,926 |
$2,973,612 |
| 21 |
$5,311,488 |
$1,925,581
$265,574 |
$3,120,333 |
| 22 |
$5,577,089 |
$2,023,853
$278,854 |
$3,274,382 |
| 23 |
$5,855,857 |
$2,126,997
$292,793 |
$3,436,067 |
| 24 |
$6,148,723 |
$2,235,358
$307,436 |
$3,605,929 |
| 25 |
$6,456,086 |
$2,349,082
$322,804 |
$3,784,200 |
| 26 |
$6,779,010 |
$2,468,564
$338,951 |
$3,971,495 |
| 27 |
$7,117,894 |
$2,593,951
$355,895 |
$4,168,048 |
| 28 |
$7,473,802 |
$2,725,637
$373,690 |
$4,374,475 |
| 29 |
$7,847,532 |
$2,863,917
$392,377 |
$4,591,238 |
| 30 |
$8,239,882 |
$3,009,087
$411,994 |
$4,818,801 |
|
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