The jackpot for the Powerball draw on Sat Aug 30, 2025, is projected to be $950 Million, with an option for a cash payout of $428.9 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 Sat Aug 30, 2025 |
|---|
| Draw Date | Sat Aug 30, 2025 | | Projected Jackpot | $950,000,000 | | Cash Value | $428,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $428,900,000 | | Federal Tax(24%) | $102,936,000 | | Additional Federal Tax | $55,717,330 | | State Tax(5%) | $21,445,000 | | Net Lumpsum Payment | $248,801,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,298,450 |
$5,250,757
$714,923 |
$8,332,770 |
| 2 |
$15,013,800 |
$5,515,436
$750,690 |
$8,747,674 |
| 3 |
$15,764,300 |
$5,793,121
$788,215 |
$9,182,964 |
| 4 |
$16,552,800 |
$6,084,866
$827,640 |
$9,640,294 |
| 5 |
$17,380,250 |
$6,391,023
$869,013 |
$10,120,214 |
| 6 |
$18,249,500 |
$6,712,645
$912,475 |
$10,624,380 |
| 7 |
$19,161,500 |
$7,050,085
$958,075 |
$11,153,340 |
| 8 |
$20,120,050 |
$7,404,749
$1,006,003 |
$11,709,298 |
| 9 |
$21,126,100 |
$7,776,987
$1,056,305 |
$12,292,808 |
| 10 |
$22,182,500 |
$8,167,855
$1,109,125 |
$12,905,520 |
| 11 |
$23,291,150 |
$8,578,056
$1,164,558 |
$13,548,536 |
| 12 |
$24,455,850 |
$9,008,995
$1,222,793 |
$14,224,062 |
| 13 |
$25,678,500 |
$9,461,375
$1,283,925 |
$14,933,200 |
| 14 |
$26,962,900 |
$9,936,603
$1,348,145 |
$15,678,152 |
| 15 |
$28,310,950 |
$10,435,382
$1,415,548 |
$16,460,020 |
| 16 |
$29,726,450 |
$10,959,117
$1,486,323 |
$17,281,010 |
| 17 |
$31,212,250 |
$11,508,863
$1,560,613 |
$18,142,774 |
| 18 |
$32,773,100 |
$12,086,377
$1,638,655 |
$19,048,068 |
| 19 |
$34,411,850 |
$12,692,715
$1,720,593 |
$19,998,542 |
| 20 |
$36,132,300 |
$13,329,281
$1,806,615 |
$20,996,404 |
| 21 |
$37,939,200 |
$13,997,834
$1,896,960 |
$22,044,406 |
| 22 |
$39,836,350 |
$14,699,780
$1,991,818 |
$23,144,752 |
| 23 |
$41,827,550 |
$15,436,524
$2,091,378 |
$24,299,648 |
| 24 |
$43,919,450 |
$16,210,527
$2,195,973 |
$25,512,950 |
| 25 |
$46,114,900 |
$17,022,843
$2,305,745 |
$26,786,312 |
| 26 |
$48,421,500 |
$17,876,285
$2,421,075 |
$28,124,140 |
| 27 |
$50,842,100 |
$18,771,907
$2,542,105 |
$29,528,088 |
| 28 |
$53,384,300 |
$19,712,521
$2,669,215 |
$31,002,564 |
| 29 |
$56,053,800 |
$20,700,236
$2,802,690 |
$32,550,874 |
| 30 |
$58,856,300 |
$21,737,161
$2,942,815 |
$34,176,324 |
|
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