The jackpot for the Powerball draw on Sat May 31, 2025, is projected to be $207 Million, with an option for a cash payout of $91 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 May 31, 2025 |
|---|
| Draw Date | Sat May 31, 2025 | | Projected Jackpot | $207,000,000 | | Cash Value | $91,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $91,000,000 | | Federal Tax(24%) | $21,840,000 | | Additional Federal Tax | $11,790,330 | | State Tax(5%) | $4,550,000 | | Net Lumpsum Payment | $52,819,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,115,557 |
$1,113,086
$155,778 |
$1,846,693 |
| 2 |
$3,271,428 |
$1,170,759
$163,571 |
$1,937,098 |
| 3 |
$3,434,958 |
$1,231,265
$171,748 |
$2,031,945 |
| 4 |
$3,606,768 |
$1,294,835
$180,338 |
$2,131,595 |
| 5 |
$3,787,065 |
$1,361,544
$189,353 |
$2,236,168 |
| 6 |
$3,976,470 |
$1,431,624
$198,824 |
$2,346,022 |
| 7 |
$4,175,190 |
$1,505,151
$208,760 |
$2,461,279 |
| 8 |
$4,384,053 |
$1,582,430
$219,203 |
$2,582,420 |
| 9 |
$4,603,266 |
$1,663,539
$230,163 |
$2,709,564 |
| 10 |
$4,833,450 |
$1,748,707
$241,673 |
$2,843,070 |
| 11 |
$5,075,019 |
$1,838,087
$253,751 |
$2,983,181 |
| 12 |
$5,328,801 |
$1,931,987
$266,440 |
$3,130,374 |
| 13 |
$5,595,210 |
$2,030,558
$279,761 |
$3,284,891 |
| 14 |
$5,875,074 |
$2,134,108
$293,754 |
$3,447,212 |
| 15 |
$6,168,807 |
$2,242,789
$308,440 |
$3,617,578 |
| 16 |
$6,477,237 |
$2,356,908
$323,862 |
$3,796,467 |
| 17 |
$6,800,985 |
$2,476,695
$340,049 |
$3,984,241 |
| 18 |
$7,141,086 |
$2,602,532
$357,054 |
$4,181,500 |
| 19 |
$7,498,161 |
$2,734,650
$374,908 |
$4,388,603 |
| 20 |
$7,873,038 |
$2,873,354
$393,652 |
$4,606,032 |
| 21 |
$8,266,752 |
$3,019,029
$413,338 |
$4,834,385 |
| 22 |
$8,680,131 |
$3,171,979
$434,007 |
$5,074,145 |
| 23 |
$9,114,003 |
$3,332,511
$455,700 |
$5,325,792 |
| 24 |
$9,569,817 |
$3,501,163
$478,491 |
$5,590,163 |
| 25 |
$10,048,194 |
$3,678,162
$502,410 |
$5,867,622 |
| 26 |
$10,550,790 |
$3,864,123
$527,540 |
$6,159,127 |
| 27 |
$11,078,226 |
$4,059,274
$553,911 |
$6,465,041 |
| 28 |
$11,632,158 |
$4,264,229
$581,608 |
$6,786,321 |
| 29 |
$12,213,828 |
$4,479,447
$610,691 |
$7,123,690 |
| 30 |
$12,824,478 |
$4,705,387
$641,224 |
$7,477,867 |
|
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