Minnesota Lottery

MNLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Oct 8, 2025 is estimated to be $223 Million, with a cash option of 104.4 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 Oct 8, 2025

Draw Date	Jackpot	Cash Option
Wed Oct 8, 2025	$223,000,000	$104,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$104,400,000
Federal Tax(24%)	$25,056,000
Additional Federal Tax	$13,532,330
State Tax(7.25%)	$7,569,000
Net Lumpsum Payment	$58,242,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,356,373	-$1,202,188 -$243,337	$1,910,848
2	$3,524,292	-$1,264,318 -$255,511	$2,004,463
3	$3,700,462	-$1,329,501 -$268,283	$2,102,678
4	$3,885,552	-$1,397,985 -$281,703	$2,205,864
5	$4,079,785	-$1,469,851 -$295,784	$2,314,150
6	$4,283,830	-$1,545,347 -$310,578	$2,427,905
7	$4,497,910	-$1,624,557 -$326,098	$2,547,255
8	$4,722,917	-$1,707,810 -$342,411	$2,672,696
9	$4,959,074	-$1,795,188 -$359,533	$2,804,353
10	$5,207,050	-$1,886,939 -$377,511	$2,942,600
11	$5,467,291	-$1,983,228 -$396,379	$3,087,684
12	$5,740,689	-$2,084,385 -$416,200	$3,240,104
13	$6,027,690	-$2,190,576 -$437,008	$3,400,106
14	$6,329,186	-$2,302,129 -$458,866	$3,568,191
15	$6,645,623	-$2,419,211 -$481,808	$3,744,604
16	$6,977,893	-$2,542,151 -$505,897	$3,929,845
17	$7,326,665	-$2,671,196 -$531,183	$4,124,286
18	$7,693,054	-$2,806,760 -$557,746	$4,328,548
19	$8,077,729	-$2,949,090 -$585,635	$4,543,004
20	$8,481,582	-$3,098,516 -$614,915	$4,768,151
21	$8,905,728	-$3,255,450 -$645,665	$5,004,613
22	$9,351,059	-$3,420,222 -$677,952	$5,252,885
23	$9,818,467	-$3,593,163 -$711,839	$5,513,465
24	$10,309,513	-$3,774,850 -$747,440	$5,787,223
25	$10,824,866	-$3,965,531 -$784,803	$6,074,532
26	$11,366,310	-$4,165,865 -$824,057	$6,376,388
27	$11,934,514	-$4,376,101 -$865,252	$6,693,161
28	$12,531,262	-$4,596,897 -$908,516	$7,025,849
29	$13,157,892	-$4,828,750 -$953,947	$7,375,195
30	$13,815,742	-$5,072,155 -$1,001,641	$7,741,946