The jackpot for the Powerball draw on Wed Nov 4, 2026, is projected to be $835 Million, with an option for a cash payout of $357.9 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 Wed Nov 4, 2026 |
|---|
| Draw Date | Wed Nov 4, 2026 | | Projected Jackpot | $835,000,000 | | Cash Value | $357,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $357,900,000 | | Federal Tax(24%) | $85,896,000 | | Additional Federal Tax | $46,487,330 | | State Tax(5%) | $17,895,000 | | Net Lumpsum Payment | $207,621,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$12,567,585 |
$4,610,337
$628,379 |
$7,328,869 |
| 2 |
$13,196,340 |
$4,842,976
$659,817 |
$7,693,547 |
| 3 |
$13,855,990 |
$5,087,047
$692,800 |
$8,076,143 |
| 4 |
$14,549,040 |
$5,343,475
$727,452 |
$8,478,113 |
| 5 |
$15,276,325 |
$5,612,571
$763,816 |
$8,899,938 |
| 6 |
$16,040,350 |
$5,895,260
$802,018 |
$9,343,072 |
| 7 |
$16,841,950 |
$6,191,852
$842,098 |
$9,808,000 |
| 8 |
$17,684,465 |
$6,503,582
$884,223 |
$10,296,660 |
| 9 |
$18,568,730 |
$6,830,760
$928,437 |
$10,809,533 |
| 10 |
$19,497,250 |
$7,174,313
$974,863 |
$11,348,074 |
| 11 |
$20,471,695 |
$7,534,858
$1,023,585 |
$11,913,252 |
| 12 |
$21,495,405 |
$7,913,630
$1,074,770 |
$12,507,005 |
| 13 |
$22,570,050 |
$8,311,249
$1,128,503 |
$13,130,298 |
| 14 |
$23,698,970 |
$8,728,949
$1,184,949 |
$13,785,072 |
| 15 |
$24,883,835 |
$9,167,349
$1,244,192 |
$14,472,294 |
| 16 |
$26,127,985 |
$9,627,685
$1,306,399 |
$15,193,901 |
| 17 |
$27,433,925 |
$10,110,883
$1,371,696 |
$15,951,346 |
| 18 |
$28,805,830 |
$10,618,487
$1,440,292 |
$16,747,051 |
| 19 |
$30,246,205 |
$11,151,426
$1,512,310 |
$17,582,469 |
| 20 |
$31,758,390 |
$11,710,935
$1,587,920 |
$18,459,535 |
| 21 |
$33,346,560 |
$12,298,558
$1,667,328 |
$19,380,674 |
| 22 |
$35,014,055 |
$12,915,531
$1,750,703 |
$20,347,821 |
| 23 |
$36,764,215 |
$13,563,090
$1,838,211 |
$21,362,914 |
| 24 |
$38,602,885 |
$14,243,398
$1,930,144 |
$22,429,343 |
| 25 |
$40,532,570 |
$14,957,381
$2,026,629 |
$23,548,560 |
| 26 |
$42,559,950 |
$15,707,512
$2,127,998 |
$24,724,440 |
| 27 |
$44,687,530 |
$16,494,716
$2,234,377 |
$25,958,437 |
| 28 |
$46,921,990 |
$17,321,467
$2,346,100 |
$27,254,423 |
| 29 |
$49,268,340 |
$18,189,616
$2,463,417 |
$28,615,307 |
| 30 |
$51,731,590 |
$19,101,019
$2,586,580 |
$30,043,991 |
|
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