Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jul 7, 2025 is estimated to be $203 Million, with a cash option of 92.5 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 Jul 7, 2025

Draw Date	Jackpot	Cash Option
Mon Jul 7, 2025	$203,000,000	$92,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$92,500,000
Federal Tax(24%)	$22,200,000
Additional Federal Tax	$11,985,330
State Tax(7.25%)	$6,706,250
Net Lumpsum Payment	$51,608,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,055,353	-$1,090,811 -$221,513	$1,743,029
2	$3,208,212	-$1,147,369 -$232,595	$1,828,248
3	$3,368,582	-$1,206,706 -$244,222	$1,917,654
4	$3,537,072	-$1,269,047 -$256,438	$2,011,587
5	$3,713,885	-$1,334,468 -$269,257	$2,110,160
6	$3,899,630	-$1,403,193 -$282,723	$2,213,714
7	$4,094,510	-$1,475,299 -$296,852	$2,322,359
8	$4,299,337	-$1,551,085 -$311,702	$2,436,550
9	$4,514,314	-$1,630,627 -$327,288	$2,556,399
10	$4,740,050	-$1,714,149 -$343,654	$2,682,247
11	$4,976,951	-$1,801,802 -$360,829	$2,814,320
12	$5,225,829	-$1,893,887 -$378,873	$2,953,069
13	$5,487,090	-$1,990,554 -$397,814	$3,098,722
14	$5,761,546	-$2,092,102 -$417,712	$3,251,732
15	$6,049,603	-$2,198,683 -$438,596	$3,412,324
16	$6,352,073	-$2,310,597 -$460,525	$3,580,951
17	$6,669,565	-$2,428,069 -$483,543	$3,757,953
18	$7,003,094	-$2,551,475 -$507,724	$3,943,895
19	$7,353,269	-$2,681,040 -$533,112	$4,139,117
20	$7,720,902	-$2,817,064 -$559,765	$4,344,073
21	$8,107,008	-$2,959,923 -$587,758	$4,559,327
22	$8,512,399	-$3,109,918 -$617,149	$4,785,332
23	$8,937,887	-$3,267,349 -$647,997	$5,022,541
24	$9,384,893	-$3,432,741 -$680,405	$5,271,747
25	$9,854,026	-$3,606,320 -$714,417	$5,533,289
26	$10,346,910	-$3,788,687 -$750,151	$5,808,072
27	$10,864,154	-$3,980,067 -$787,651	$6,096,436
28	$11,407,382	-$4,181,062 -$827,035	$6,399,285
29	$11,977,812	-$4,392,121 -$868,391	$6,717,300
30	$12,576,662	-$4,613,695 -$911,808	$7,051,159