Iowa Mega Millions
Latest Mega Millions results and how much you keep after Iowa taxes.
Latest Mega Millions Drawing
Friday, May 22Jackpot: $296M
Drawings every Tue & Fri at 11:00 PM ET · Megaplier optional +$1
Iowa Mega Millions — Take-Home After Taxes
Based on $296M jackpot · Estimated
Cash Lump Sum
Annuity (30 Payments)
Iowa Lottery Information
State tax on winnings
5.70%
Draw days
Tue, Fri at 11:00 PM ET
Ticket price
$2 per play (+$1 Megaplier)
Jackpot odds
1 in 302,575,350
National Mega Millions
Latest results & jackpot
Iowa Scratch-Offs
Ranked by odds & prizes
Iowa Powerball
Tax breakdown & results
Frequently Asked Questions
How much is the Mega Millions jackpot in Iowa?
The current Mega Millions jackpot is $296M. Mega Millions is available in Iowa along with 44 other states. Drawings are held Tuesday and Friday at 11:00 PM ET.
How much do you keep from Mega Millions in Iowa?
In Iowa, you'd keep approximately $93M from the $296M jackpot lump sum after 5.70% Iowa state tax and 37% federal tax. Use our calculator for a precise breakdown.
Where can I buy Mega Millions tickets in Iowa?
Mega Millions tickets are available at licensed lottery retailers throughout Iowa, including convenience stores, gas stations, and grocery stores. Each play costs $2, with an optional $1 Megaplier add-on that multiplies non-jackpot prizes by 2x–5x.
How do I claim a Mega Millions prize in Iowa?
Prizes up to $600 can be claimed at any authorized Iowa lottery retailer. Prizes over $600 must be claimed at the Iowa Lottery offices. Jackpot winners should contact the Iowa Lottery directly and are strongly advised to consult a financial and tax advisor before claiming.
Does Iowa tax Mega Millions winnings?
Yes. Iowa taxes lottery winnings at 5.70% state income tax on top of federal taxes. For large jackpots, the combined rate can exceed 50%. Use our Iowa tax calculator for your specific prize amount.
Mega Millions in Iowa
Iowa participates in the Mega Millions lottery, a multi-state game coordinated by the Multi-State Lottery Association (MUSL). Tickets cost $2 per play, with drawings every Tuesday and Friday at 11:00 PM Eastern Time.
To win the Mega Millions jackpot, players must match all five white balls (1–70) and the gold Mega Ball (1–25). The overall odds of winning any Mega Millions prize are approximately 1 in 24. The jackpot starts at $20 million and grows until someone wins.
Iowa lottery winners pay 5.70% in state income tax on top of federal taxes. For exact calculations tailored to your prize amount and filing status, use the Iowa lottery tax calculator.