Iowa Lottery

IALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Apr 20, 2026 is estimated to be $87 Million, with a cash option of 39.7 Million. If you win the Powerball 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 Powerball Jackpot/Cash Option for Mon Apr 20, 2026

Draw Date	Jackpot	Cash Option
Mon Apr 20, 2026	$87,000,000	$39,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$39,700,000
Federal Tax(24%)	$9,528,000
Additional Federal Tax	$5,121,330
State Tax(5%)	$1,985,000
Net Lumpsum Payment	$23,065,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,309,437	-$444,822 -$65,472	$799,143
2	$1,374,948	-$469,061 -$68,747	$837,140
3	$1,443,678	-$494,491 -$72,184	$877,003
4	$1,515,888	-$521,209 -$75,794	$918,885
5	$1,591,665	-$549,246 -$79,583	$962,836
6	$1,671,270	-$578,700 -$83,564	$1,009,006
7	$1,754,790	-$609,603 -$87,740	$1,057,447
8	$1,842,573	-$642,082 -$92,129	$1,108,362
9	$1,934,706	-$676,172 -$96,735	$1,161,799
10	$2,031,450	-$711,967 -$101,573	$1,217,910
11	$2,132,979	-$749,533 -$106,649	$1,276,797
12	$2,239,641	-$788,998 -$111,982	$1,338,661
13	$2,351,610	-$830,426 -$117,581	$1,403,603
14	$2,469,234	-$873,947 -$123,462	$1,471,825
15	$2,592,687	-$919,625 -$129,634	$1,543,428
16	$2,722,317	-$967,588 -$136,116	$1,618,613
17	$2,858,385	-$1,017,933 -$142,919	$1,697,533
18	$3,001,326	-$1,070,821 -$150,066	$1,780,439
19	$3,151,401	-$1,126,349 -$157,570	$1,867,482
20	$3,308,958	-$1,184,645 -$165,448	$1,958,865
21	$3,474,432	-$1,245,870 -$173,722	$2,054,840
22	$3,648,171	-$1,310,154 -$182,409	$2,155,608
23	$3,830,523	-$1,377,624 -$191,526	$2,261,373
24	$4,022,097	-$1,448,506 -$201,105	$2,372,486
25	$4,223,154	-$1,522,897 -$211,158	$2,489,099
26	$4,434,390	-$1,601,055 -$221,720	$2,611,615
27	$4,656,066	-$1,683,075 -$232,803	$2,740,188
28	$4,888,878	-$1,769,215 -$244,444	$2,875,219
29	$5,133,348	-$1,859,669 -$256,667	$3,017,012
30	$5,389,998	-$1,954,630 -$269,500	$3,165,868