The jackpot for the MEGA Millions draw on Tue Oct 27, 2026, is projected to be $443 Million, with an option for a cash payout of $186.5 Million. Should you be the lucky winner of the MEGA Millions 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 MEGA Millions Jackpot/Cash Option for Tue Oct 27, 2026 |
|---|
| Draw Date | Tue Oct 27, 2026 | | Projected Jackpot | $443,000,000 | | Cash Value | $186,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $186,500,000 | | Federal Tax(24%) | $44,760,000 | | Additional Federal Tax | $24,205,330 | | State Tax(5%) | $9,325,000 | | Net Lumpsum Payment | $108,209,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,667,593 |
$2,427,340
$333,380 |
$3,906,873 |
| 2 |
$7,001,172 |
$2,550,764
$350,059 |
$4,100,349 |
| 3 |
$7,351,142 |
$2,680,253
$367,557 |
$4,303,332 |
| 4 |
$7,718,832 |
$2,816,298
$385,942 |
$4,516,592 |
| 5 |
$8,104,685 |
$2,959,064
$405,234 |
$4,740,387 |
| 6 |
$8,510,030 |
$3,109,041
$425,502 |
$4,975,487 |
| 7 |
$8,935,310 |
$3,266,395
$446,766 |
$5,222,149 |
| 8 |
$9,382,297 |
$3,431,780
$469,115 |
$5,481,402 |
| 9 |
$9,851,434 |
$3,605,361
$492,572 |
$5,753,501 |
| 10 |
$10,344,050 |
$3,787,629
$517,203 |
$6,039,218 |
| 11 |
$10,861,031 |
$3,978,912
$543,052 |
$6,339,067 |
| 12 |
$11,404,149 |
$4,179,866
$570,207 |
$6,654,076 |
| 13 |
$11,974,290 |
$4,390,818
$598,715 |
$6,984,757 |
| 14 |
$12,573,226 |
$4,612,424
$628,661 |
$7,332,141 |
| 15 |
$13,201,843 |
$4,845,012
$660,092 |
$7,696,739 |
| 16 |
$13,861,913 |
$5,089,238
$693,096 |
$8,079,579 |
| 17 |
$14,554,765 |
$5,345,593
$727,738 |
$8,481,434 |
| 18 |
$15,282,614 |
$5,614,898
$764,131 |
$8,903,585 |
| 19 |
$16,046,789 |
$5,897,642
$802,339 |
$9,346,808 |
| 20 |
$16,849,062 |
$6,194,483
$842,453 |
$9,812,126 |
| 21 |
$17,691,648 |
$6,506,240
$884,582 |
$10,300,826 |
| 22 |
$18,576,319 |
$6,833,568
$928,816 |
$10,813,935 |
| 23 |
$19,504,847 |
$7,177,124
$975,242 |
$11,352,481 |
| 24 |
$20,480,333 |
$7,538,054
$1,024,017 |
$11,918,262 |
| 25 |
$21,504,106 |
$7,916,850
$1,075,205 |
$12,512,051 |
| 26 |
$22,579,710 |
$8,314,823
$1,128,986 |
$13,135,901 |
| 27 |
$23,708,474 |
$8,732,466
$1,185,424 |
$13,790,584 |
| 28 |
$24,893,942 |
$9,171,089
$1,244,697 |
$14,478,156 |
| 29 |
$26,138,772 |
$9,631,676
$1,306,939 |
$15,200,157 |
| 30 |
$27,445,622 |
$10,115,211
$1,372,281 |
$15,958,130 |
|
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