The jackpot for the MEGA Millions draw on Fri Sep 5, 2025, is projected to be $336 Million, with an option for a cash payout of $151.3 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 Fri Sep 5, 2025 |
|---|
| Draw Date | Fri Sep 5, 2025 | | Projected Jackpot | $336,000,000 | | Cash Value | $151,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $151,300,000 | | Federal Tax(24%) | $36,312,000 | | Additional Federal Tax | $19,629,330 | | State Tax(5%) | $7,565,000 | | Net Lumpsum Payment | $87,793,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,057,136 |
$1,831,471
$252,857 |
$2,972,808 |
| 2 |
$5,310,144 |
$1,925,084
$265,507 |
$3,119,553 |
| 3 |
$5,575,584 |
$2,023,296
$278,779 |
$3,273,509 |
| 4 |
$5,854,464 |
$2,126,482
$292,723 |
$3,435,259 |
| 5 |
$6,147,120 |
$2,234,765
$307,356 |
$3,604,999 |
| 6 |
$6,454,560 |
$2,348,518
$322,728 |
$3,783,314 |
| 7 |
$6,777,120 |
$2,467,865
$338,856 |
$3,970,399 |
| 8 |
$7,116,144 |
$2,593,304
$355,807 |
$4,167,033 |
| 9 |
$7,471,968 |
$2,724,959
$373,598 |
$4,373,411 |
| 10 |
$7,845,600 |
$2,863,202
$392,280 |
$4,590,118 |
| 11 |
$8,237,712 |
$3,008,284
$411,886 |
$4,817,542 |
| 12 |
$8,649,648 |
$3,160,700
$432,482 |
$5,056,466 |
| 13 |
$9,082,080 |
$3,320,700
$454,104 |
$5,307,276 |
| 14 |
$9,536,352 |
$3,488,781
$476,818 |
$5,570,753 |
| 15 |
$10,013,136 |
$3,665,191
$500,657 |
$5,847,288 |
| 16 |
$10,513,776 |
$3,850,428
$525,689 |
$6,137,659 |
| 17 |
$11,039,280 |
$4,044,864
$551,964 |
$6,442,452 |
| 18 |
$11,591,328 |
$4,249,122
$579,566 |
$6,762,640 |
| 19 |
$12,170,928 |
$4,463,574
$608,546 |
$7,098,808 |
| 20 |
$12,779,424 |
$4,688,717
$638,971 |
$7,451,736 |
| 21 |
$13,418,496 |
$4,925,174
$670,925 |
$7,822,397 |
| 22 |
$14,089,488 |
$5,173,441
$704,474 |
$8,211,573 |
| 23 |
$14,793,744 |
$5,434,016
$739,687 |
$8,620,041 |
| 24 |
$15,533,616 |
$5,707,768
$776,681 |
$9,049,167 |
| 25 |
$16,310,112 |
$5,995,072
$815,506 |
$9,499,534 |
| 26 |
$17,125,920 |
$6,296,921
$856,296 |
$9,972,703 |
| 27 |
$17,982,048 |
$6,613,688
$899,102 |
$10,469,258 |
| 28 |
$18,881,184 |
$6,946,368
$944,059 |
$10,990,757 |
| 29 |
$19,825,344 |
$7,295,708
$991,267 |
$11,538,369 |
| 30 |
$20,816,544 |
$7,662,452
$1,040,827 |
$12,113,265 |
|
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