The jackpot for the Powerball draw on Mon Jul 13, 2026, is projected to be $478 Million, with an option for a cash payout of $212.2 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 13, 2026 |
|---|
| Draw Date | Mon Jul 13, 2026 | | Projected Jackpot | $478,000,000 | | Cash Value | $212,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $212,200,000 | | Federal Tax(24%) | $50,928,000 | | Additional Federal Tax | $27,546,330 | | State Tax(5%) | $10,610,000 | | Net Lumpsum Payment | $123,115,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,194,378 |
$2,622,250
$359,719 |
$4,212,409 |
| 2 |
$7,554,312 |
$2,755,426
$377,716 |
$4,421,170 |
| 3 |
$7,931,932 |
$2,895,145
$396,597 |
$4,640,190 |
| 4 |
$8,328,672 |
$3,041,939
$416,434 |
$4,870,299 |
| 5 |
$8,745,010 |
$3,195,984
$437,251 |
$5,111,775 |
| 6 |
$9,182,380 |
$3,357,811
$459,119 |
$5,365,450 |
| 7 |
$9,641,260 |
$3,527,597
$482,063 |
$5,631,600 |
| 8 |
$10,123,562 |
$3,706,048
$506,178 |
$5,911,336 |
| 9 |
$10,629,764 |
$3,893,343
$531,488 |
$6,204,933 |
| 10 |
$11,161,300 |
$4,090,011
$558,065 |
$6,513,224 |
| 11 |
$11,719,126 |
$4,296,407
$585,956 |
$6,836,763 |
| 12 |
$12,305,154 |
$4,513,237
$615,258 |
$7,176,659 |
| 13 |
$12,920,340 |
$4,740,856
$646,017 |
$7,533,467 |
| 14 |
$13,566,596 |
$4,979,971
$678,330 |
$7,908,295 |
| 15 |
$14,244,878 |
$5,230,935
$712,244 |
$8,301,699 |
| 16 |
$14,957,098 |
$5,494,457
$747,855 |
$8,714,786 |
| 17 |
$15,704,690 |
$5,771,066
$785,235 |
$9,148,389 |
| 18 |
$16,490,044 |
$6,061,647
$824,502 |
$9,603,895 |
| 19 |
$17,314,594 |
$6,366,730
$865,730 |
$10,082,134 |
| 20 |
$18,180,252 |
$6,687,024
$909,013 |
$10,584,215 |
| 21 |
$19,089,408 |
$7,023,411
$954,470 |
$11,111,527 |
| 22 |
$20,043,974 |
$7,376,601
$1,002,199 |
$11,665,174 |
| 23 |
$21,045,862 |
$7,747,299
$1,052,293 |
$12,246,270 |
| 24 |
$22,098,418 |
$8,136,745
$1,104,921 |
$12,856,752 |
| 25 |
$23,203,076 |
$8,545,469
$1,160,154 |
$13,497,453 |
| 26 |
$24,363,660 |
$8,974,885
$1,218,183 |
$14,170,592 |
| 27 |
$25,581,604 |
$9,425,524
$1,279,080 |
$14,877,000 |
| 28 |
$26,860,732 |
$9,898,801
$1,343,037 |
$15,618,894 |
| 29 |
$28,203,912 |
$10,395,778
$1,410,196 |
$16,397,938 |
| 30 |
$29,614,012 |
$10,917,515
$1,480,701 |
$17,215,796 |
|
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