Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 16, 2025 is estimated to be $90 Million, with a cash option of 40.7 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Minnesota, your state will take 7.25% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Minnesota Powerball Jackpot/Cash Option for Mon Jun 16, 2025

Draw Date	Jackpot	Cash Option
Mon Jun 16, 2025	$90,000,000	$40,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$40,700,000
Federal Tax(24%)	$9,768,000
Additional Federal Tax	$5,251,330
State Tax(7.25%)	$2,950,750
Net Lumpsum Payment	$22,729,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,354,590	-$461,529 -$98,208	$794,853
2	$1,422,360	-$486,604 -$103,121	$832,635
3	$1,493,460	-$512,911 -$108,276	$872,273
4	$1,568,160	-$540,550 -$113,692	$913,918
5	$1,646,550	-$569,554 -$119,375	$957,621
6	$1,728,900	-$600,023 -$125,345	$1,003,532
7	$1,815,300	-$631,991 -$131,609	$1,051,700
8	$1,906,110	-$665,591 -$138,193	$1,102,326
9	$2,001,420	-$700,856 -$145,103	$1,155,461
10	$2,101,500	-$737,885 -$152,359	$1,211,256
11	$2,206,530	-$776,746 -$159,973	$1,269,811
12	$2,316,870	-$817,572 -$167,973	$1,331,325
13	$2,432,700	-$860,429 -$176,371	$1,395,900
14	$2,554,380	-$905,451 -$185,193	$1,463,736
15	$2,682,090	-$952,704 -$194,452	$1,534,934
16	$2,816,190	-$1,002,321 -$204,174	$1,609,695
17	$2,956,950	-$1,054,402 -$214,379	$1,688,169
18	$3,104,820	-$1,109,114 -$225,099	$1,770,607
19	$3,260,070	-$1,166,556 -$236,355	$1,857,159
20	$3,423,060	-$1,226,863 -$248,172	$1,948,025
21	$3,594,240	-$1,290,199 -$260,582	$2,043,459
22	$3,773,970	-$1,356,699 -$273,613	$2,143,658
23	$3,962,610	-$1,426,496 -$287,289	$2,248,825
24	$4,160,790	-$1,499,823 -$301,657	$2,359,310
25	$4,368,780	-$1,576,779 -$316,737	$2,475,264
26	$4,587,300	-$1,657,631 -$332,579	$2,597,090
27	$4,816,620	-$1,742,480 -$349,205	$2,724,935
28	$5,057,460	-$1,831,591 -$366,666	$2,859,203
29	$5,310,360	-$1,925,164 -$385,001	$3,000,195
30	$5,575,860	-$2,023,399 -$404,250	$3,148,211