The jackpot for the Powerball draw on Wed Mar 18, 2026, is projected to be $101 Million, with an option for a cash payout of $46 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 Mar 18, 2026 |
|---|
| Draw Date | Wed Mar 18, 2026 | | Projected Jackpot | $101,000,000 | | Cash Value | $46,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $46,000,000 | | Federal Tax(24%) | $11,040,000 | | Additional Federal Tax | $5,940,330 | | State Tax(5%) | $2,300,000 | | Net Lumpsum Payment | $26,719,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,520,151 |
$522,786
$76,008 |
$921,357 |
| 2 |
$1,596,204 |
$550,926
$79,810 |
$965,468 |
| 3 |
$1,675,994 |
$580,448
$83,800 |
$1,011,746 |
| 4 |
$1,759,824 |
$611,465
$87,991 |
$1,060,368 |
| 5 |
$1,847,795 |
$644,015
$92,390 |
$1,111,390 |
| 6 |
$1,940,210 |
$678,208
$97,011 |
$1,164,991 |
| 7 |
$2,037,170 |
$714,083
$101,859 |
$1,221,228 |
| 8 |
$2,139,079 |
$751,790
$106,954 |
$1,280,335 |
| 9 |
$2,246,038 |
$791,364
$112,302 |
$1,342,372 |
| 10 |
$2,358,350 |
$832,920
$117,918 |
$1,407,512 |
| 11 |
$2,476,217 |
$876,531
$123,811 |
$1,475,875 |
| 12 |
$2,600,043 |
$922,346
$130,002 |
$1,547,695 |
| 13 |
$2,730,030 |
$970,441
$136,502 |
$1,623,087 |
| 14 |
$2,866,582 |
$1,020,966
$143,329 |
$1,702,287 |
| 15 |
$3,009,901 |
$1,073,994
$150,495 |
$1,785,412 |
| 16 |
$3,160,391 |
$1,129,675
$158,020 |
$1,872,696 |
| 17 |
$3,318,355 |
$1,188,122
$165,918 |
$1,964,315 |
| 18 |
$3,484,298 |
$1,249,521
$174,215 |
$2,060,562 |
| 19 |
$3,658,523 |
$1,313,984
$182,926 |
$2,161,613 |
| 20 |
$3,841,434 |
$1,381,661
$192,072 |
$2,267,701 |
| 21 |
$4,033,536 |
$1,452,739
$201,677 |
$2,379,120 |
| 22 |
$4,235,233 |
$1,527,367
$211,762 |
$2,496,104 |
| 23 |
$4,446,929 |
$1,605,694
$222,346 |
$2,618,889 |
| 24 |
$4,669,331 |
$1,687,983
$233,467 |
$2,747,881 |
| 25 |
$4,902,742 |
$1,774,345
$245,137 |
$2,883,260 |
| 26 |
$5,147,970 |
$1,865,079
$257,399 |
$3,025,492 |
| 27 |
$5,405,318 |
$1,960,298
$270,266 |
$3,174,754 |
| 28 |
$5,675,594 |
$2,060,300
$283,780 |
$3,331,514 |
| 29 |
$5,959,404 |
$2,165,310
$297,970 |
$3,496,124 |
| 30 |
$6,257,354 |
$2,275,551
$312,868 |
$3,668,935 |
|
|
