The jackpot for the Powerball draw on Wed Jun 17, 2026, is projected to be $283 Million, with an option for a cash payout of $126.8 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 Wed Jun 17, 2026 |
|---|
| Draw Date | Wed Jun 17, 2026 | | Projected Jackpot | $283,000,000 | | Cash Value | $126,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,800,000 | | Federal Tax(24%) | $30,432,000 | | Additional Federal Tax | $16,444,330 | | State Tax(5%) | $6,340,000 | | Net Lumpsum Payment | $73,583,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,259,433 |
$1,536,321
$212,972 |
$2,510,140 |
| 2 |
$4,472,532 |
$1,615,167
$223,627 |
$2,633,738 |
| 3 |
$4,696,102 |
$1,697,888
$234,805 |
$2,763,409 |
| 4 |
$4,930,992 |
$1,784,797
$246,550 |
$2,899,645 |
| 5 |
$5,177,485 |
$1,876,000
$258,874 |
$3,042,611 |
| 6 |
$5,436,430 |
$1,971,809
$271,822 |
$3,192,799 |
| 7 |
$5,708,110 |
$2,072,331
$285,406 |
$3,350,373 |
| 8 |
$5,993,657 |
$2,177,983
$299,683 |
$3,515,991 |
| 9 |
$6,293,354 |
$2,288,871
$314,668 |
$3,689,815 |
| 10 |
$6,608,050 |
$2,405,309
$330,403 |
$3,872,338 |
| 11 |
$6,938,311 |
$2,527,505
$346,916 |
$4,063,890 |
| 12 |
$7,285,269 |
$2,655,880
$364,263 |
$4,265,126 |
| 13 |
$7,649,490 |
$2,790,642
$382,475 |
$4,476,373 |
| 14 |
$8,032,106 |
$2,932,210
$401,605 |
$4,698,291 |
| 15 |
$8,433,683 |
$3,080,793
$421,684 |
$4,931,206 |
| 16 |
$8,855,353 |
$3,236,811
$442,768 |
$5,175,774 |
| 17 |
$9,297,965 |
$3,400,577
$464,898 |
$5,432,490 |
| 18 |
$9,762,934 |
$3,572,616
$488,147 |
$5,702,171 |
| 19 |
$10,251,109 |
$3,753,241
$512,555 |
$5,985,313 |
| 20 |
$10,763,622 |
$3,942,871
$538,181 |
$6,282,570 |
| 21 |
$11,301,888 |
$4,142,029
$565,094 |
$6,594,765 |
| 22 |
$11,867,039 |
$4,351,135
$593,352 |
$6,922,552 |
| 23 |
$12,460,207 |
$4,570,607
$623,010 |
$7,266,590 |
| 24 |
$13,083,373 |
$4,801,178
$654,169 |
$7,628,026 |
| 25 |
$13,737,386 |
$5,043,163
$686,869 |
$8,007,354 |
| 26 |
$14,424,510 |
$5,297,399
$721,226 |
$8,405,885 |
| 27 |
$15,145,594 |
$5,564,200
$757,280 |
$8,824,114 |
| 28 |
$15,902,902 |
$5,844,404
$795,145 |
$9,263,353 |
| 29 |
$16,698,132 |
$6,138,639
$834,907 |
$9,724,586 |
| 30 |
$17,532,982 |
$6,447,534
$876,649 |
$10,208,799 |
|
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