The jackpot for the Powerball draw on Wed Sep 16, 2026, is projected to be $271 Million, with an option for a cash payout of $115.1 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 Wed Sep 16, 2026 |
|---|
| Draw Date | Wed Sep 16, 2026 | | Projected Jackpot | $271,000,000 | | Cash Value | $115,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $115,100,000 | | Federal Tax(24%) | $27,624,000 | | Additional Federal Tax | $14,923,330 | | State Tax(5%) | $5,755,000 | | Net Lumpsum Payment | $66,797,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,078,821 |
$1,469,494
$203,941 |
$2,405,386 |
| 2 |
$4,282,884 |
$1,544,997
$214,144 |
$2,523,743 |
| 3 |
$4,496,974 |
$1,624,211
$224,849 |
$2,647,914 |
| 4 |
$4,721,904 |
$1,707,435
$236,095 |
$2,778,374 |
| 5 |
$4,957,945 |
$1,794,770
$247,897 |
$2,915,278 |
| 6 |
$5,205,910 |
$1,886,517
$260,296 |
$3,059,097 |
| 7 |
$5,466,070 |
$1,982,776
$273,304 |
$3,209,990 |
| 8 |
$5,739,509 |
$2,083,949
$286,975 |
$3,368,585 |
| 9 |
$6,026,498 |
$2,190,135
$301,325 |
$3,535,038 |
| 10 |
$6,327,850 |
$2,301,635
$316,393 |
$3,709,822 |
| 11 |
$6,644,107 |
$2,418,650
$332,205 |
$3,893,252 |
| 12 |
$6,976,353 |
$2,541,581
$348,818 |
$4,085,954 |
| 13 |
$7,325,130 |
$2,670,628
$366,257 |
$4,288,245 |
| 14 |
$7,691,522 |
$2,806,194
$384,576 |
$4,500,752 |
| 15 |
$8,076,071 |
$2,948,477
$403,804 |
$4,723,790 |
| 16 |
$8,479,861 |
$3,097,879
$423,993 |
$4,957,989 |
| 17 |
$8,903,705 |
$3,254,701
$445,185 |
$5,203,819 |
| 18 |
$9,348,958 |
$3,419,445
$467,448 |
$5,462,065 |
| 19 |
$9,816,433 |
$3,592,411
$490,822 |
$5,733,200 |
| 20 |
$10,307,214 |
$3,774,000
$515,361 |
$6,017,853 |
| 21 |
$10,822,656 |
$3,964,713
$541,133 |
$6,316,810 |
| 22 |
$11,363,843 |
$4,164,952
$568,192 |
$6,630,699 |
| 23 |
$11,931,859 |
$4,375,118
$596,593 |
$6,960,148 |
| 24 |
$12,528,601 |
$4,595,913
$626,430 |
$7,306,258 |
| 25 |
$13,154,882 |
$4,827,637
$657,744 |
$7,669,501 |
| 26 |
$13,812,870 |
$5,071,092
$690,644 |
$8,051,134 |
| 27 |
$14,503,378 |
$5,326,580
$725,169 |
$8,451,629 |
| 28 |
$15,228,574 |
$5,594,903
$761,429 |
$8,872,242 |
| 29 |
$15,990,084 |
$5,876,661
$799,504 |
$9,313,919 |
| 30 |
$16,789,534 |
$6,172,458
$839,477 |
$9,777,599 |
|
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