Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 10, 2025 is estimated to be $82 Million, with a cash option of 37.7 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 Sat May 10, 2025

Draw Date	Jackpot	Cash Option
Sat May 10, 2025	$82,000,000	$37,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$37,700,000
Federal Tax(24%)	$9,048,000
Additional Federal Tax	$4,861,330
State Tax(7.25%)	$2,733,250
Net Lumpsum Payment	$21,057,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,234,182	-$416,978 -$89,478	$727,726
2	$1,295,928	-$439,824 -$93,955	$762,149
3	$1,360,708	-$463,792 -$98,651	$798,265
4	$1,428,768	-$488,975 -$103,586	$836,207
5	$1,500,190	-$515,401 -$108,764	$876,025
6	$1,575,220	-$543,162 -$114,203	$917,855
7	$1,653,940	-$572,288 -$119,911	$961,741
8	$1,736,678	-$602,901 -$125,909	$1,007,868
9	$1,823,516	-$635,031 -$132,205	$1,056,280
10	$1,914,700	-$668,769 -$138,816	$1,107,115
11	$2,010,394	-$704,176 -$145,754	$1,160,464
12	$2,110,926	-$741,373 -$153,042	$1,216,511
13	$2,216,460	-$780,421 -$160,693	$1,275,346
14	$2,327,324	-$821,440 -$168,731	$1,337,153
15	$2,443,682	-$864,493 -$177,167	$1,402,022
16	$2,565,862	-$909,699 -$186,025	$1,470,138
17	$2,694,110	-$957,151 -$195,323	$1,541,636
18	$2,828,836	-$1,007,000 -$205,091	$1,616,745
19	$2,970,286	-$1,059,336 -$215,346	$1,695,604
20	$3,118,788	-$1,114,282 -$226,112	$1,778,394
21	$3,274,752	-$1,171,989 -$237,420	$1,865,343
22	$3,438,506	-$1,232,578 -$249,292	$1,956,636
23	$3,610,378	-$1,296,170 -$261,752	$2,052,456
24	$3,790,942	-$1,362,979 -$274,843	$2,153,120
25	$3,980,444	-$1,433,095 -$288,582	$2,258,767
26	$4,179,540	-$1,506,760 -$303,017	$2,369,763
27	$4,388,476	-$1,584,067 -$318,165	$2,486,244
28	$4,607,908	-$1,665,256 -$334,073	$2,608,579
29	$4,838,328	-$1,750,512 -$350,779	$2,737,037
30	$5,080,228	-$1,840,015 -$368,317	$2,871,896