Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 4, 2025 is estimated to be $426 Million, with a cash option of 193.5 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 Aug 4, 2025

Draw Date	Jackpot	Cash Option
Mon Aug 4, 2025	$426,000,000	$193,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$193,500,000
Federal Tax(24%)	$46,440,000
Additional Federal Tax	$25,115,330
State Tax(7.25%)	$14,028,750
Net Lumpsum Payment	$107,915,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,411,726	-$2,332,669 -$464,850	$3,614,207
2	$6,732,504	-$2,451,357 -$488,107	$3,793,040
3	$7,069,044	-$2,575,877 -$512,506	$3,980,661
4	$7,422,624	-$2,706,701 -$538,140	$4,177,783
5	$7,793,670	-$2,843,988 -$565,041	$4,384,641
6	$8,183,460	-$2,988,211 -$593,301	$4,601,948
7	$8,592,420	-$3,139,526 -$622,950	$4,829,944
8	$9,022,254	-$3,298,564 -$654,113	$5,069,577
9	$9,473,388	-$3,465,484 -$686,821	$5,321,083
10	$9,947,100	-$3,640,757 -$721,165	$5,585,178
11	$10,444,242	-$3,824,700 -$757,208	$5,862,334
12	$10,966,518	-$4,017,942 -$795,073	$6,153,503
13	$11,514,780	-$4,220,799 -$834,822	$6,459,159
14	$12,090,732	-$4,433,901 -$876,578	$6,780,253
15	$12,695,226	-$4,657,564 -$920,404	$7,117,258
16	$13,329,966	-$4,892,418 -$966,423	$7,471,125
17	$13,996,230	-$5,138,935 -$1,014,727	$7,842,568
18	$14,696,148	-$5,397,905 -$1,065,471	$8,232,772
19	$15,430,998	-$5,669,800 -$1,118,747	$8,642,451
20	$16,202,484	-$5,955,249 -$1,174,680	$9,072,555
21	$17,012,736	-$6,255,043 -$1,233,423	$9,524,270
22	$17,863,458	-$6,569,810 -$1,295,101	$9,998,547
23	$18,756,354	-$6,900,181 -$1,359,836	$10,496,337
24	$19,694,406	-$7,247,261 -$1,427,844	$11,019,301
25	$20,678,892	-$7,611,520 -$1,499,220	$11,568,152
26	$21,713,220	-$7,994,222 -$1,574,208	$12,144,790
27	$22,798,668	-$8,395,838 -$1,652,903	$12,749,927
28	$23,938,644	-$8,817,629 -$1,735,552	$13,385,463
29	$25,135,704	-$9,260,541 -$1,822,339	$14,052,824
30	$26,392,404	-$9,725,520 -$1,913,449	$14,753,435