Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Aug 20, 2025 is estimated to be $643 Million, with a cash option of 290.6 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 Wed Aug 20, 2025

Draw Date	Jackpot	Cash Option
Wed Aug 20, 2025	$643,000,000	$290,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$290,600,000
Federal Tax(24%)	$69,744,000
Additional Federal Tax	$37,738,330
State Tax(7.25%)	$21,068,500
Net Lumpsum Payment	$162,049,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$9,677,793	-$3,541,114 -$701,640	$5,435,039
2	$10,161,972	-$3,720,260 -$736,743	$5,704,969
3	$10,669,942	-$3,908,209 -$773,571	$5,988,162
4	$11,203,632	-$4,105,674 -$812,263	$6,285,695
5	$11,763,685	-$4,312,894 -$852,867	$6,597,924
6	$12,352,030	-$4,530,581 -$895,522	$6,925,927
7	$12,969,310	-$4,758,975 -$940,275	$7,270,060
8	$13,618,097	-$4,999,026 -$987,312	$7,631,759
9	$14,299,034	-$5,250,973 -$1,036,680	$8,011,381
10	$15,014,050	-$5,515,529 -$1,088,519	$8,410,002
11	$15,764,431	-$5,793,170 -$1,142,921	$8,828,340
12	$16,552,749	-$6,084,848 -$1,200,074	$9,267,827
13	$17,380,290	-$6,391,038 -$1,260,071	$9,729,181
14	$18,249,626	-$6,712,692 -$1,323,098	$10,213,836
15	$19,162,043	-$7,050,286 -$1,389,248	$10,722,509
16	$20,120,113	-$7,404,772 -$1,458,708	$11,256,633
17	$21,125,765	-$7,776,863 -$1,531,618	$11,817,284
18	$22,182,214	-$8,167,750 -$1,608,211	$12,406,253
19	$23,291,389	-$8,578,144 -$1,688,626	$13,024,619
20	$24,455,862	-$9,008,999 -$1,773,050	$13,673,813
21	$25,678,848	-$9,461,504 -$1,861,716	$14,355,628
22	$26,962,919	-$9,936,610 -$1,954,812	$15,071,497
23	$28,310,647	-$10,435,270 -$2,052,522	$15,822,855
24	$29,726,533	-$10,959,148 -$2,155,174	$16,612,211
25	$31,212,506	-$11,508,958 -$2,262,907	$17,440,641
26	$32,773,710	-$12,086,603 -$2,376,094	$18,311,013
27	$34,412,074	-$12,692,798 -$2,494,875	$19,224,401
28	$36,132,742	-$13,329,445 -$2,619,624	$20,183,673
29	$37,939,572	-$13,997,972 -$2,750,619	$21,190,981
30	$39,836,422	-$14,699,807 -$2,888,141	$22,248,474