The jackpot for the MEGA Millions draw on Tue Sep 22, 2026, is projected to be $261 Million, with an option for a cash payout of $110.5 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 Sep 22, 2026 |
|---|
| Draw Date | Tue Sep 22, 2026 | | Projected Jackpot | $261,000,000 | | Cash Value | $110,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $110,500,000 | | Federal Tax(24%) | $26,520,000 | | Additional Federal Tax | $14,325,330 | | State Tax(5%) | $5,525,000 | | Net Lumpsum Payment | $64,129,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,928,311 |
$1,413,805
$196,416 |
$2,318,090 |
| 2 |
$4,124,844 |
$1,486,523
$206,242 |
$2,432,079 |
| 3 |
$4,331,034 |
$1,562,813
$216,552 |
$2,551,669 |
| 4 |
$4,547,664 |
$1,642,966
$227,383 |
$2,677,315 |
| 5 |
$4,774,995 |
$1,727,079
$238,750 |
$2,809,166 |
| 6 |
$5,013,810 |
$1,815,440
$250,691 |
$2,947,679 |
| 7 |
$5,264,370 |
$1,908,147
$263,219 |
$3,093,004 |
| 8 |
$5,527,719 |
$2,005,586
$276,386 |
$3,245,747 |
| 9 |
$5,804,118 |
$2,107,854
$290,206 |
$3,406,058 |
| 10 |
$6,094,350 |
$2,215,240
$304,718 |
$3,574,392 |
| 11 |
$6,398,937 |
$2,327,937
$319,947 |
$3,751,053 |
| 12 |
$6,718,923 |
$2,446,332
$335,946 |
$3,936,645 |
| 13 |
$7,054,830 |
$2,570,617
$352,742 |
$4,131,471 |
| 14 |
$7,407,702 |
$2,701,180
$370,385 |
$4,336,137 |
| 15 |
$7,778,061 |
$2,838,213
$388,903 |
$4,550,945 |
| 16 |
$8,166,951 |
$2,982,102
$408,348 |
$4,776,501 |
| 17 |
$8,575,155 |
$3,133,138
$428,758 |
$5,013,259 |
| 18 |
$9,003,978 |
$3,291,802
$450,199 |
$5,261,977 |
| 19 |
$9,454,203 |
$3,458,385
$472,710 |
$5,523,108 |
| 20 |
$9,926,874 |
$3,633,274
$496,344 |
$5,797,256 |
| 21 |
$10,423,296 |
$3,816,950
$521,165 |
$6,085,181 |
| 22 |
$10,944,513 |
$4,009,800
$547,226 |
$6,387,487 |
| 23 |
$11,491,569 |
$4,212,211
$574,578 |
$6,704,780 |
| 24 |
$12,066,291 |
$4,424,858
$603,315 |
$7,038,118 |
| 25 |
$12,669,462 |
$4,648,031
$633,473 |
$7,387,958 |
| 26 |
$13,303,170 |
$4,882,503
$665,159 |
$7,755,508 |
| 27 |
$13,968,198 |
$5,128,564
$698,410 |
$8,141,224 |
| 28 |
$14,666,634 |
$5,386,985
$733,332 |
$8,546,317 |
| 29 |
$15,400,044 |
$5,658,347
$770,002 |
$8,971,695 |
| 30 |
$16,169,994 |
$5,943,228
$808,500 |
$9,418,266 |
|
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