Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Oct 24, 2026 is estimated to be $674 Million, with a cash option of 283.9 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 Sat Oct 24, 2026

Draw Date	Jackpot	Cash Option
Sat Oct 24, 2026	$674,000,000	$283,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$283,900,000
Federal Tax(24%)	$68,136,000
Additional Federal Tax	$36,867,330
State Tax(7.25%)	$20,582,750
Net Lumpsum Payment	$158,313,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,144,374	-$3,713,749 -$735,467	$5,695,158
2	$10,651,896	-$3,901,532 -$772,262	$5,978,102
3	$11,184,356	-$4,098,542 -$810,866	$6,274,948
4	$11,743,776	-$4,305,528 -$851,424	$6,586,824
5	$12,330,830	-$4,522,737 -$893,985	$6,914,108
6	$12,947,540	-$4,750,920 -$938,697	$7,257,923
7	$13,594,580	-$4,990,325 -$985,607	$7,618,648
8	$14,274,646	-$5,241,949 -$1,034,912	$7,997,785
9	$14,988,412	-$5,506,043 -$1,086,660	$8,395,709
10	$15,737,900	-$5,783,353 -$1,140,998	$8,813,549
11	$16,524,458	-$6,074,380 -$1,198,023	$9,252,055
12	$17,350,782	-$6,380,120 -$1,257,932	$9,712,730
13	$18,218,220	-$6,701,072 -$1,320,821	$10,196,327
14	$19,129,468	-$7,038,234 -$1,386,886	$10,704,348
15	$20,085,874	-$7,392,104 -$1,456,226	$11,237,544
16	$21,090,134	-$7,763,680 -$1,529,035	$11,797,419
17	$22,144,270	-$8,153,710 -$1,605,460	$12,385,100
18	$23,251,652	-$8,563,442 -$1,685,745	$13,002,465
19	$24,414,302	-$8,993,622 -$1,770,037	$13,650,643
20	$25,634,916	-$9,445,249 -$1,858,531	$14,331,136
21	$26,916,864	-$9,919,570 -$1,951,473	$15,045,821
22	$28,262,842	-$10,417,582 -$2,049,056	$15,796,204
23	$29,675,546	-$10,940,282 -$2,151,477	$16,583,787
24	$31,159,694	-$11,489,417 -$2,259,078	$17,411,199
25	$32,717,308	-$12,065,734 -$2,372,005	$18,279,569
26	$34,353,780	-$12,671,229 -$2,490,649	$19,191,902
27	$36,071,132	-$13,306,649 -$2,615,157	$20,149,326
28	$37,874,756	-$13,973,990 -$2,745,920	$21,154,846
29	$39,768,696	-$14,674,748 -$2,883,230	$22,210,718
30	$41,756,996	-$15,410,419 -$3,027,382	$23,319,195