Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 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 Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(7.25%)	$17,595,750
Net Lumpsum Payment	$135,344,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$561,967	$4,361,000
2	$8,139,060	-$2,971,783 -$590,082	$4,577,195
3	$8,545,910	-$3,122,317 -$619,578	$4,804,015
4	$8,973,360	-$3,280,474 -$650,569	$5,042,317
5	$9,421,925	-$3,446,443 -$683,090	$5,292,392
6	$9,893,150	-$3,620,796 -$717,253	$5,555,101
7	$10,387,550	-$3,803,724 -$753,097	$5,830,729
8	$10,907,185	-$3,995,989 -$790,771	$6,120,425
9	$11,452,570	-$4,197,781 -$830,311	$6,424,478
10	$12,025,250	-$4,409,673 -$871,831	$6,743,746
11	$12,626,255	-$4,632,045 -$915,403	$7,078,807
12	$13,257,645	-$4,865,659 -$961,179	$7,430,807
13	$13,920,450	-$5,110,897 -$1,009,233	$7,800,320
14	$14,616,730	-$5,368,520 -$1,059,713	$8,188,497
15	$15,347,515	-$5,638,911 -$1,112,695	$8,595,909
16	$16,114,865	-$5,922,830 -$1,168,328	$9,023,707
17	$16,920,325	-$6,220,851 -$1,226,724	$9,472,750
18	$17,766,470	-$6,533,924 -$1,288,069	$9,944,477
19	$18,654,845	-$6,862,623 -$1,352,476	$10,439,746
20	$19,587,510	-$7,207,709 -$1,420,094	$10,959,707
21	$20,567,040	-$7,570,135 -$1,491,110	$11,505,795
22	$21,595,495	-$7,950,664 -$1,565,673	$12,079,158
23	$22,674,935	-$8,350,056 -$1,643,933	$12,680,946
24	$23,808,965	-$8,769,647 -$1,726,150	$13,313,168
25	$24,999,130	-$9,210,008 -$1,812,437	$13,976,685
26	$26,249,550	-$9,672,664 -$1,903,092	$14,673,794
27	$27,561,770	-$10,158,185 -$1,998,228	$15,405,357
28	$28,939,910	-$10,668,097 -$2,098,143	$16,173,670
29	$30,387,060	-$11,203,543 -$2,203,062	$16,980,455
30	$31,906,310	-$11,765,665 -$2,313,207	$17,827,438