The jackpot for the Powerball draw on Mon Jul 27, 2026, is projected to be $633 Million, with an option for a cash payout of $277.3 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 Jul 27, 2026 |
|---|
| Draw Date | Mon Jul 27, 2026 | | Projected Jackpot | $633,000,000 | | Cash Value | $277,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $277,300,000 | | Federal Tax(24%) | $66,552,000 | | Additional Federal Tax | $36,009,330 | | State Tax(5%) | $13,865,000 | | Net Lumpsum Payment | $160,873,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,527,283 |
$3,485,425
$476,364 |
$5,565,494 |
| 2 |
$10,003,932 |
$3,661,785
$500,197 |
$5,841,950 |
| 3 |
$10,504,002 |
$3,846,811
$525,200 |
$6,131,991 |
| 4 |
$11,029,392 |
$4,041,205
$551,470 |
$6,436,717 |
| 5 |
$11,580,735 |
$4,245,202
$579,037 |
$6,756,496 |
| 6 |
$12,159,930 |
$4,459,504
$607,997 |
$7,092,429 |
| 7 |
$12,767,610 |
$4,684,346
$638,381 |
$7,444,883 |
| 8 |
$13,406,307 |
$4,920,664
$670,315 |
$7,815,328 |
| 9 |
$14,076,654 |
$5,168,692
$703,833 |
$8,204,129 |
| 10 |
$14,780,550 |
$5,429,134
$739,028 |
$8,612,388 |
| 11 |
$15,519,261 |
$5,702,457
$775,963 |
$9,040,841 |
| 12 |
$16,295,319 |
$5,989,598
$814,766 |
$9,490,955 |
| 13 |
$17,109,990 |
$6,291,027
$855,500 |
$9,963,463 |
| 14 |
$17,965,806 |
$6,607,679
$898,290 |
$10,459,837 |
| 15 |
$18,864,033 |
$6,940,023
$943,202 |
$10,980,808 |
| 16 |
$19,807,203 |
$7,288,995
$990,360 |
$11,527,848 |
| 17 |
$20,797,215 |
$7,655,300
$1,039,861 |
$12,102,054 |
| 18 |
$21,837,234 |
$8,040,107
$1,091,862 |
$12,705,265 |
| 19 |
$22,929,159 |
$8,444,119
$1,146,458 |
$13,338,582 |
| 20 |
$24,075,522 |
$8,868,274
$1,203,776 |
$14,003,472 |
| 21 |
$25,279,488 |
$9,313,741
$1,263,974 |
$14,701,773 |
| 22 |
$26,543,589 |
$9,781,458
$1,327,179 |
$15,434,952 |
| 23 |
$27,870,357 |
$10,272,362
$1,393,518 |
$16,204,477 |
| 24 |
$29,264,223 |
$10,788,093
$1,463,211 |
$17,012,919 |
| 25 |
$30,727,086 |
$11,329,352
$1,536,354 |
$17,861,380 |
| 26 |
$32,264,010 |
$11,898,014
$1,613,201 |
$18,752,795 |
| 27 |
$33,876,894 |
$12,494,781
$1,693,845 |
$19,688,268 |
| 28 |
$35,570,802 |
$13,121,527
$1,778,540 |
$20,670,735 |
| 29 |
$37,349,532 |
$13,779,657
$1,867,477 |
$21,702,398 |
| 30 |
$39,216,882 |
$14,470,577
$1,960,844 |
$22,785,461 |
|
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