Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 24, 2026 is estimated to be $81 Million, with a cash option of 34.8 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 Aug 24, 2026

Draw Date	Jackpot	Cash Option
Mon Aug 24, 2026	$81,000,000	$34,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,800,000
Federal Tax(24%)	$8,352,000
Additional Federal Tax	$4,484,330
State Tax(7.25%)	$2,523,000
Net Lumpsum Payment	$19,440,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,219,131	-$411,409 -$88,387	$719,335
2	$1,280,124	-$433,976 -$92,809	$753,339
3	$1,344,114	-$457,653 -$97,448	$789,013
4	$1,411,344	-$482,528 -$102,322	$826,494
5	$1,481,895	-$508,632 -$107,437	$865,826
6	$1,556,010	-$536,054 -$112,811	$907,145
7	$1,633,770	-$564,825 -$118,448	$950,497
8	$1,715,499	-$595,065 -$124,374	$996,060
9	$1,801,278	-$626,803 -$130,593	$1,043,882
10	$1,891,350	-$660,130 -$137,123	$1,094,097
11	$1,985,877	-$695,105 -$143,976	$1,146,796
12	$2,085,183	-$731,848 -$151,176	$1,202,159
13	$2,189,430	-$770,419 -$158,734	$1,260,277
14	$2,298,942	-$810,939 -$166,673	$1,321,330
15	$2,413,881	-$853,466 -$175,006	$1,385,409
16	$2,534,571	-$898,122 -$183,756	$1,452,693
17	$2,661,255	-$944,995 -$192,941	$1,523,319
18	$2,794,338	-$994,235 -$202,590	$1,597,513
19	$2,934,063	-$1,045,934 -$212,720	$1,675,409
20	$3,080,754	-$1,100,209 -$223,355	$1,757,190
21	$3,234,816	-$1,157,212 -$234,524	$1,843,080
22	$3,396,573	-$1,217,062 -$246,252	$1,933,259
23	$3,566,349	-$1,279,880 -$258,560	$2,027,909
24	$3,744,711	-$1,345,873 -$271,492	$2,127,346
25	$3,931,902	-$1,415,134 -$285,063	$2,231,705
26	$4,128,570	-$1,487,901 -$299,321	$2,341,348
27	$4,334,958	-$1,564,265 -$314,284	$2,456,409
28	$4,551,714	-$1,644,465 -$329,999	$2,577,250
29	$4,779,324	-$1,728,680 -$346,501	$2,704,143
30	$5,018,274	-$1,817,092 -$363,825	$2,837,357