Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 10, 2025 is estimated to be $335 Million, with a cash option of 157.3 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 Mar 10, 2025

Draw Date	Jackpot	Cash Option
Mon Mar 10, 2025	$335,000,000	$157,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$157,300,000
Federal Tax(24%)	$37,752,000
Additional Federal Tax	$20,409,330
State Tax(7.25%)	$11,404,250
Net Lumpsum Payment	$87,734,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,042,085	-$1,825,902 -$365,551	$2,850,632
2	$5,294,340	-$1,919,236 -$383,840	$2,991,264
3	$5,558,990	-$2,017,157 -$403,027	$3,138,806
4	$5,837,040	-$2,120,035 -$423,185	$3,293,820
5	$6,128,825	-$2,227,996 -$444,340	$3,456,489
6	$6,435,350	-$2,341,410 -$466,563	$3,627,377
7	$6,756,950	-$2,460,402 -$489,879	$3,806,669
8	$7,094,965	-$2,585,467 -$514,385	$3,995,113
9	$7,449,730	-$2,716,730 -$540,105	$4,192,895
10	$7,822,250	-$2,854,563 -$567,113	$4,400,574
11	$8,213,195	-$2,999,213 -$595,457	$4,618,525
12	$8,623,905	-$3,151,175 -$625,233	$4,847,497
13	$9,055,050	-$3,310,699 -$656,491	$5,087,860
14	$9,507,970	-$3,478,279 -$689,328	$5,340,363
15	$9,983,335	-$3,654,164 -$723,792	$5,605,379
16	$10,482,485	-$3,838,850 -$759,980	$5,883,655
17	$11,006,425	-$4,032,708 -$797,966	$6,175,751
18	$11,556,830	-$4,236,357 -$837,870	$6,482,603
19	$12,134,705	-$4,450,171 -$879,766	$6,804,768
20	$12,741,390	-$4,674,645 -$923,751	$7,142,994
21	$13,378,560	-$4,910,398 -$969,946	$7,498,216
22	$14,047,555	-$5,157,926 -$1,018,448	$7,871,181
23	$14,749,715	-$5,417,725 -$1,069,354	$8,262,636
24	$15,487,385	-$5,690,663 -$1,122,835	$8,673,887
25	$16,261,570	-$5,977,111 -$1,178,964	$9,105,495
26	$17,074,950	-$6,278,062 -$1,237,934	$9,558,954
27	$17,928,530	-$6,593,886 -$1,299,818	$10,034,826
28	$18,824,990	-$6,925,577 -$1,364,812	$10,534,601
29	$19,766,340	-$7,273,876 -$1,433,060	$11,059,404
30	$20,754,590	-$7,639,529 -$1,504,708	$11,610,353