Iowa Lottery

IALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Nov 4, 2025 is estimated to be $800 Million, with a cash option of 371.7 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Iowa, your state will take 5% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Iowa MEGA Millions Jackpot/Cash Option for Tue Nov 4, 2025

Draw Date	Jackpot	Cash Option
Tue Nov 4, 2025	$800,000,000	$371,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$371,700,000
Federal Tax(24%)	$89,208,000
Additional Federal Tax	$48,281,330
State Tax(5%)	$18,585,000
Net Lumpsum Payment	$215,625,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$12,040,800	-$4,415,426 -$602,040	$7,023,334
2	$12,643,200	-$4,638,314 -$632,160	$7,372,726
3	$13,275,200	-$4,872,154 -$663,760	$7,739,286
4	$13,939,200	-$5,117,834 -$696,960	$8,124,406
5	$14,636,000	-$5,375,650 -$731,800	$8,528,550
6	$15,368,000	-$5,646,490 -$768,400	$8,953,110
7	$16,136,000	-$5,930,650 -$806,800	$9,398,550
8	$16,943,200	-$6,229,314 -$847,160	$9,866,726
9	$17,790,400	-$6,542,778 -$889,520	$10,358,102
10	$18,680,000	-$6,871,930 -$934,000	$10,874,070
11	$19,613,600	-$7,217,362 -$980,680	$11,415,558
12	$20,594,400	-$7,580,258 -$1,029,720	$11,984,422
13	$21,624,000	-$7,961,210 -$1,081,200	$12,581,590
14	$22,705,600	-$8,361,402 -$1,135,280	$13,208,918
15	$23,840,800	-$8,781,426 -$1,192,040	$13,867,334
16	$25,032,800	-$9,222,466 -$1,251,640	$14,558,694
17	$26,284,000	-$9,685,410 -$1,314,200	$15,284,390
18	$27,598,400	-$10,171,738 -$1,379,920	$16,046,742
19	$28,978,400	-$10,682,338 -$1,448,920	$16,847,142
20	$30,427,200	-$11,218,394 -$1,521,360	$17,687,446
21	$31,948,800	-$11,781,386 -$1,597,440	$18,569,974
22	$33,546,400	-$12,372,498 -$1,677,320	$19,496,582
23	$35,223,200	-$12,992,914 -$1,761,160	$20,469,126
24	$36,984,800	-$13,644,706 -$1,849,240	$21,490,854
25	$38,833,600	-$14,328,762 -$1,941,680	$22,563,158
26	$40,776,000	-$15,047,450 -$2,038,800	$23,689,750
27	$42,814,400	-$15,801,658 -$2,140,720	$24,872,022
28	$44,955,200	-$16,593,754 -$2,247,760	$26,113,686
29	$47,203,200	-$17,425,514 -$2,360,160	$27,417,526
30	$49,563,200	-$18,298,714 -$2,478,160	$28,786,326