The jackpot for the Powerball draw on Sat Sep 19, 2026, is projected to be $298 Million, with an option for a cash payout of $126.6 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 Sat Sep 19, 2026 |
|---|
| Draw Date | Sat Sep 19, 2026 | | Projected Jackpot | $298,000,000 | | Cash Value | $126,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,600,000 | | Federal Tax(24%) | $30,384,000 | | Additional Federal Tax | $16,418,330 | | State Tax(5%) | $6,330,000 | | Net Lumpsum Payment | $73,467,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,485,198 |
$1,619,854
$224,260 |
$2,641,084 |
| 2 |
$4,709,592 |
$1,702,879
$235,480 |
$2,771,233 |
| 3 |
$4,945,012 |
$1,789,985
$247,251 |
$2,907,776 |
| 4 |
$5,192,352 |
$1,881,501
$259,618 |
$3,051,233 |
| 5 |
$5,451,910 |
$1,977,537
$272,596 |
$3,201,777 |
| 6 |
$5,724,580 |
$2,078,425
$286,229 |
$3,359,926 |
| 7 |
$6,010,660 |
$2,184,275
$300,533 |
$3,525,852 |
| 8 |
$6,311,342 |
$2,295,527
$315,567 |
$3,700,248 |
| 9 |
$6,626,924 |
$2,412,292
$331,346 |
$3,883,286 |
| 10 |
$6,958,300 |
$2,534,901
$347,915 |
$4,075,484 |
| 11 |
$7,306,066 |
$2,663,575
$365,303 |
$4,277,188 |
| 12 |
$7,671,414 |
$2,798,754
$383,571 |
$4,489,089 |
| 13 |
$8,054,940 |
$2,940,658
$402,747 |
$4,711,535 |
| 14 |
$8,457,836 |
$3,089,730
$422,892 |
$4,945,214 |
| 15 |
$8,880,698 |
$3,246,189
$444,035 |
$5,190,474 |
| 16 |
$9,324,718 |
$3,410,476
$466,236 |
$5,448,006 |
| 17 |
$9,790,790 |
$3,582,923
$489,540 |
$5,718,327 |
| 18 |
$10,280,404 |
$3,764,080
$514,020 |
$6,002,304 |
| 19 |
$10,794,454 |
$3,954,278
$539,723 |
$6,300,453 |
| 20 |
$11,334,132 |
$4,153,959
$566,707 |
$6,613,466 |
| 21 |
$11,900,928 |
$4,363,674
$595,046 |
$6,942,208 |
| 22 |
$12,496,034 |
$4,583,863
$624,802 |
$7,287,369 |
| 23 |
$13,120,642 |
$4,814,968
$656,032 |
$7,649,642 |
| 24 |
$13,776,838 |
$5,057,760
$688,842 |
$8,030,236 |
| 25 |
$14,465,516 |
$5,312,571
$723,276 |
$8,429,669 |
| 26 |
$15,189,060 |
$5,580,283
$759,453 |
$8,849,324 |
| 27 |
$15,948,364 |
$5,861,225
$797,418 |
$9,289,721 |
| 28 |
$16,745,812 |
$6,156,281
$837,291 |
$9,752,240 |
| 29 |
$17,583,192 |
$6,466,111
$879,160 |
$10,237,921 |
| 30 |
$18,462,292 |
$6,791,378
$923,115 |
$10,747,799 |
|
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