The jackpot for the Powerball draw on Mon Jun 23, 2025, is projected to be $128 Million, with an option for a cash payout of $57.6 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Minnesota residents, the state will deduct 7.25% from your lottery earnings.
| Minnesota Powerball Jackpot/Cash Option for Mon Jun 23, 2025 |
|---|
| Draw Date | Mon Jun 23, 2025 | | Projected Jackpot | $128,000,000 | | Cash Value | $57,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,600,000 | | Federal Tax(24%) | $13,824,000 | | Additional Federal Tax | $7,448,330 | | State Tax(7.25%) | $4,176,000 | | Net Lumpsum Payment | $32,151,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$139,673 |
$1,113,709 |
| 2 |
$2,022,912 |
$708,808
$146,661 |
$1,167,443 |
| 3 |
$2,124,032 |
$746,222
$153,992 |
$1,223,818 |
| 4 |
$2,230,272 |
$785,531
$161,695 |
$1,283,046 |
| 5 |
$2,341,760 |
$826,782
$169,778 |
$1,345,200 |
| 6 |
$2,458,880 |
$870,116
$178,269 |
$1,410,495 |
| 7 |
$2,581,760 |
$915,582
$187,178 |
$1,479,000 |
| 8 |
$2,710,912 |
$963,368
$196,541 |
$1,551,003 |
| 9 |
$2,846,464 |
$1,013,522
$206,369 |
$1,626,573 |
| 10 |
$2,988,800 |
$1,066,186
$216,688 |
$1,705,926 |
| 11 |
$3,138,176 |
$1,121,456
$227,518 |
$1,789,202 |
| 12 |
$3,295,104 |
$1,179,519
$238,895 |
$1,876,690 |
| 13 |
$3,459,840 |
$1,240,471
$250,838 |
$1,968,531 |
| 14 |
$3,632,896 |
$1,304,502
$263,385 |
$2,065,009 |
| 15 |
$3,814,528 |
$1,371,706
$276,553 |
$2,166,269 |
| 16 |
$4,005,248 |
$1,442,272
$290,380 |
$2,272,596 |
| 17 |
$4,205,440 |
$1,516,343
$304,894 |
$2,384,203 |
| 18 |
$4,415,744 |
$1,594,156
$320,141 |
$2,501,447 |
| 19 |
$4,636,544 |
$1,675,852
$336,149 |
$2,624,543 |
| 20 |
$4,868,352 |
$1,761,621
$352,956 |
$2,753,775 |
| 21 |
$5,111,808 |
$1,851,699
$370,606 |
$2,889,503 |
| 22 |
$5,367,424 |
$1,946,277
$389,138 |
$3,032,009 |
| 23 |
$5,635,712 |
$2,045,544
$408,589 |
$3,181,579 |
| 24 |
$5,917,568 |
$2,149,831
$429,024 |
$3,338,713 |
| 25 |
$6,213,376 |
$2,259,280
$450,470 |
$3,503,626 |
| 26 |
$6,524,160 |
$2,374,270
$473,002 |
$3,676,888 |
| 27 |
$6,850,304 |
$2,494,943
$496,647 |
$3,858,714 |
| 28 |
$7,192,832 |
$2,621,678
$521,480 |
$4,049,674 |
| 29 |
$7,552,512 |
$2,754,760
$547,557 |
$4,250,195 |
| 30 |
$7,930,112 |
$2,894,472
$574,933 |
$4,460,707 |
|
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