Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Apr 19, 2025 is estimated to be $131 Million, with a cash option of 58.6 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 Apr 19, 2025

Draw Date	Jackpot	Cash Option
Sat Apr 19, 2025	$131,000,000	$58,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$58,600,000
Federal Tax(24%)	$14,064,000
Additional Federal Tax	$7,578,330
State Tax(7.25%)	$4,248,500
Net Lumpsum Payment	$32,709,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,971,681	-$689,852 -$142,947	$1,138,882
2	$2,070,324	-$726,350 -$150,098	$1,193,876
3	$2,173,814	-$764,642 -$157,602	$1,251,570
4	$2,282,544	-$804,872 -$165,484	$1,312,188
5	$2,396,645	-$847,089 -$173,757	$1,375,799
6	$2,516,510	-$891,439 -$182,447	$1,442,624
7	$2,642,270	-$937,970 -$191,565	$1,512,735
8	$2,774,449	-$986,877 -$201,148	$1,586,424
9	$2,913,178	-$1,038,206 -$211,205	$1,663,767
10	$3,058,850	-$1,092,105 -$221,767	$1,744,978
11	$3,211,727	-$1,148,669 -$232,850	$1,830,208
12	$3,372,333	-$1,208,094 -$244,494	$1,919,745
13	$3,540,930	-$1,270,474 -$256,717	$2,013,739
14	$3,718,042	-$1,336,006 -$269,558	$2,112,478
15	$3,903,931	-$1,404,785 -$283,035	$2,216,111
16	$4,099,121	-$1,477,005 -$297,186	$2,324,930
17	$4,304,005	-$1,552,812 -$312,040	$2,439,153
18	$4,519,238	-$1,632,448 -$327,645	$2,559,145
19	$4,745,213	-$1,716,059 -$344,028	$2,685,126
20	$4,982,454	-$1,803,838 -$361,228	$2,817,388
21	$5,231,616	-$1,896,028 -$379,292	$2,956,296
22	$5,493,223	-$1,992,823 -$398,259	$3,102,141
23	$5,767,799	-$2,094,416 -$418,165	$3,255,218
24	$6,056,261	-$2,201,147 -$439,079	$3,416,035
25	$6,359,002	-$2,313,161 -$461,028	$3,584,813
26	$6,677,070	-$2,430,846 -$484,088	$3,762,136
27	$7,010,858	-$2,554,348 -$508,287	$3,948,223
28	$7,361,414	-$2,684,054 -$533,703	$4,143,657
29	$7,729,524	-$2,820,254 -$560,390	$4,348,880
30	$8,115,974	-$2,963,241 -$588,408	$4,564,325