Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Sep 1, 2025 is estimated to be $1.10 Billion, with a cash option of 498.4 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 Sep 1, 2025

Draw Date	Jackpot	Cash Option
Mon Sep 1, 2025	$1,100,000,000	$498,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$498,400,000
Federal Tax(24%)	$119,616,000
Additional Federal Tax	$64,752,330
State Tax(7.25%)	$36,134,000
Net Lumpsum Payment	$277,897,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$16,556,100	-$6,086,087 -$1,200,317	$9,269,696
2	$17,384,400	-$6,392,558 -$1,260,369	$9,731,473
3	$18,253,400	-$6,714,088 -$1,323,372	$10,215,940
4	$19,166,400	-$7,051,898 -$1,389,564	$10,724,938
5	$20,124,500	-$7,406,395 -$1,459,026	$11,259,079
6	$21,131,000	-$7,778,800 -$1,531,998	$11,820,202
7	$22,187,000	-$8,169,520 -$1,608,558	$12,408,922
8	$23,296,900	-$8,580,183 -$1,689,025	$13,027,692
9	$24,461,800	-$9,011,196 -$1,773,481	$13,677,123
10	$25,685,000	-$9,463,780 -$1,862,163	$14,359,057
11	$26,968,700	-$9,938,749 -$1,955,231	$15,074,720
12	$28,317,300	-$10,437,731 -$2,053,004	$15,826,565
13	$29,733,000	-$10,961,540 -$2,155,643	$16,615,817
14	$31,220,200	-$11,511,804 -$2,263,465	$17,444,931
15	$32,781,100	-$12,089,337 -$2,376,630	$18,315,133
16	$34,420,100	-$12,695,767 -$2,495,457	$19,228,876
17	$36,140,500	-$13,332,315 -$2,620,186	$20,187,999
18	$37,947,800	-$14,001,016 -$2,751,216	$21,195,568
19	$39,845,300	-$14,703,091 -$2,888,784	$22,253,425
20	$41,837,400	-$15,440,168 -$3,033,212	$23,364,020
21	$43,929,600	-$16,214,282 -$3,184,896	$24,530,422
22	$46,126,300	-$17,027,061 -$3,344,157	$25,755,082
23	$48,431,900	-$17,880,133 -$3,511,313	$27,040,454
24	$50,854,100	-$18,776,347 -$3,686,922	$28,390,831
25	$53,396,200	-$19,716,924 -$3,871,225	$29,808,051
26	$56,067,000	-$20,705,120 -$4,064,858	$31,297,022
27	$58,869,800	-$21,742,156 -$4,268,061	$32,859,583
28	$61,813,400	-$22,831,288 -$4,481,472	$34,500,640
29	$64,904,400	-$23,974,958 -$4,705,569	$36,223,873
30	$68,149,400	-$25,175,608 -$4,940,832	$38,032,960