Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Aug 5, 2026 is estimated to be $786 Million, with a cash option of 341.6 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 Wed Aug 5, 2026

Draw Date	Jackpot	Cash Option
Wed Aug 5, 2026	$786,000,000	$341,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$341,600,000
Federal Tax(24%)	$81,984,000
Additional Federal Tax	$44,368,330
State Tax(7.25%)	$24,766,000
Net Lumpsum Payment	$190,481,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,830,086	-$4,337,462 -$857,681	$6,634,943
2	$12,421,944	-$4,556,450 -$900,591	$6,964,903
3	$13,042,884	-$4,786,197 -$945,609	$7,311,078
4	$13,695,264	-$5,027,578 -$992,907	$7,674,779
5	$14,379,870	-$5,280,882 -$1,042,541	$8,056,447
6	$15,099,060	-$5,546,983 -$1,094,682	$8,457,395
7	$15,853,620	-$5,826,170 -$1,149,387	$8,878,063
8	$16,646,694	-$6,119,607 -$1,206,885	$9,320,202
9	$17,479,068	-$6,427,586 -$1,267,232	$9,784,250
10	$18,353,100	-$6,750,977 -$1,330,600	$10,271,523
11	$19,270,362	-$7,090,364 -$1,397,101	$10,782,897
12	$20,233,998	-$7,446,910 -$1,466,965	$11,320,123
13	$21,245,580	-$7,821,195 -$1,540,305	$11,884,080
14	$22,308,252	-$8,214,384 -$1,617,348	$12,476,520
15	$23,423,586	-$8,627,057 -$1,698,210	$13,098,319
16	$24,594,726	-$9,060,379 -$1,783,118	$13,751,229
17	$25,824,030	-$9,515,221 -$1,872,242	$14,436,567
18	$27,115,428	-$9,993,039 -$1,965,869	$15,156,520
19	$28,471,278	-$10,494,703 -$2,064,168	$15,912,407
20	$29,894,724	-$11,021,378 -$2,167,367	$16,705,979
21	$31,389,696	-$11,574,518 -$2,275,753	$17,539,425
22	$32,959,338	-$12,155,285 -$2,389,552	$18,414,501
23	$34,606,794	-$12,764,844 -$2,508,993	$19,332,957
24	$36,337,566	-$13,405,230 -$2,634,474	$20,297,862
25	$38,154,012	-$14,077,315 -$2,766,166	$21,310,531
26	$40,062,420	-$14,783,426 -$2,904,525	$22,374,469
27	$42,065,148	-$15,524,435 -$3,049,723	$23,490,990
28	$44,168,484	-$16,302,669 -$3,202,215	$24,663,600
29	$46,377,144	-$17,119,874 -$3,362,343	$25,894,927
30	$48,695,844	-$17,977,793 -$3,530,449	$27,187,602