The jackpot for the Powerball draw on Mon Mar 9, 2026, is projected to be $46 Million, with an option for a cash payout of $21.2 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 9, 2026 |
|---|
| Draw Date | Mon Mar 9, 2026 | | Projected Jackpot | $46,000,000 | | Cash Value | $21,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $21,200,000 | | Federal Tax(24%) | $5,088,000 | | Additional Federal Tax | $2,716,330 | | State Tax(5%) | $1,060,000 | | Net Lumpsum Payment | $12,335,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$692,346 |
$216,498
$34,617 |
$441,231 |
| 2 |
$726,984 |
$229,314
$36,349 |
$461,321 |
| 3 |
$763,324 |
$242,760
$38,166 |
$482,398 |
| 4 |
$801,504 |
$256,887
$40,075 |
$504,542 |
| 5 |
$841,570 |
$271,711
$42,079 |
$527,780 |
| 6 |
$883,660 |
$287,285
$44,183 |
$552,192 |
| 7 |
$927,820 |
$303,624
$46,391 |
$577,805 |
| 8 |
$974,234 |
$320,797
$48,712 |
$604,725 |
| 9 |
$1,022,948 |
$338,821
$51,147 |
$632,980 |
| 10 |
$1,074,100 |
$357,747
$53,705 |
$662,648 |
| 11 |
$1,127,782 |
$377,610
$56,389 |
$693,783 |
| 12 |
$1,184,178 |
$398,476
$59,209 |
$726,493 |
| 13 |
$1,243,380 |
$420,381
$62,169 |
$760,830 |
| 14 |
$1,305,572 |
$443,392
$65,279 |
$796,901 |
| 15 |
$1,370,846 |
$467,543
$68,542 |
$834,761 |
| 16 |
$1,439,386 |
$492,903
$71,969 |
$874,514 |
| 17 |
$1,511,330 |
$519,522
$75,567 |
$916,241 |
| 18 |
$1,586,908 |
$547,486
$79,345 |
$960,077 |
| 19 |
$1,666,258 |
$576,846
$83,313 |
$1,006,099 |
| 20 |
$1,749,564 |
$607,669
$87,478 |
$1,054,417 |
| 21 |
$1,837,056 |
$640,041
$91,853 |
$1,105,162 |
| 22 |
$1,928,918 |
$674,030
$96,446 |
$1,158,442 |
| 23 |
$2,025,334 |
$709,704
$101,267 |
$1,214,363 |
| 24 |
$2,126,626 |
$747,182
$106,331 |
$1,273,113 |
| 25 |
$2,232,932 |
$786,515
$111,647 |
$1,334,770 |
| 26 |
$2,344,620 |
$827,840
$117,231 |
$1,399,549 |
| 27 |
$2,461,828 |
$871,207
$123,091 |
$1,467,530 |
| 28 |
$2,584,924 |
$916,752
$129,246 |
$1,538,926 |
| 29 |
$2,714,184 |
$964,578
$135,709 |
$1,613,897 |
| 30 |
$2,849,884 |
$1,014,787
$142,494 |
$1,692,603 |
|
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