The jackpot for the Powerball draw on Sat Mar 21, 2026, is projected to be $120 Million, with an option for a cash payout of $54.6 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 Sat Mar 21, 2026 |
|---|
| Draw Date | Sat Mar 21, 2026 | | Projected Jackpot | $120,000,000 | | Cash Value | $54,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,600,000 | | Federal Tax(24%) | $13,104,000 | | Additional Federal Tax | $7,058,330 | | State Tax(7.25%) | $3,958,500 | | Net Lumpsum Payment | $30,479,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,806,120 |
$628,595
$130,944 |
$1,046,581 |
| 2 |
$1,896,480 |
$662,028
$137,495 |
$1,096,957 |
| 3 |
$1,991,280 |
$697,104
$144,368 |
$1,149,808 |
| 4 |
$2,090,880 |
$733,956
$151,589 |
$1,205,335 |
| 5 |
$2,195,400 |
$772,628
$159,167 |
$1,263,605 |
| 6 |
$2,305,200 |
$813,254
$167,127 |
$1,324,819 |
| 7 |
$2,420,400 |
$855,878
$175,479 |
$1,389,043 |
| 8 |
$2,541,480 |
$900,678
$184,257 |
$1,456,545 |
| 9 |
$2,668,560 |
$947,698
$193,471 |
$1,527,391 |
| 10 |
$2,802,000 |
$997,070
$203,145 |
$1,601,785 |
| 11 |
$2,942,040 |
$1,048,885
$213,298 |
$1,679,857 |
| 12 |
$3,089,160 |
$1,103,320
$223,964 |
$1,761,876 |
| 13 |
$3,243,600 |
$1,160,462
$235,161 |
$1,847,977 |
| 14 |
$3,405,840 |
$1,220,491
$246,923 |
$1,938,426 |
| 15 |
$3,576,120 |
$1,283,495
$259,269 |
$2,033,356 |
| 16 |
$3,754,920 |
$1,349,651
$272,232 |
$2,133,037 |
| 17 |
$3,942,600 |
$1,419,092
$285,839 |
$2,237,669 |
| 18 |
$4,139,760 |
$1,492,042
$300,133 |
$2,347,585 |
| 19 |
$4,346,760 |
$1,568,632
$315,140 |
$2,462,988 |
| 20 |
$4,564,080 |
$1,649,040
$330,896 |
$2,584,144 |
| 21 |
$4,792,320 |
$1,733,489
$347,443 |
$2,711,388 |
| 22 |
$5,031,960 |
$1,822,156
$364,817 |
$2,844,987 |
| 23 |
$5,283,480 |
$1,915,218
$383,052 |
$2,985,210 |
| 24 |
$5,547,720 |
$2,012,987
$402,210 |
$3,132,523 |
| 25 |
$5,825,040 |
$2,115,595
$422,315 |
$3,287,130 |
| 26 |
$6,116,400 |
$2,223,398
$443,439 |
$3,449,563 |
| 27 |
$6,422,160 |
$2,336,530
$465,607 |
$3,620,023 |
| 28 |
$6,743,280 |
$2,455,344
$488,888 |
$3,799,048 |
| 29 |
$7,080,480 |
$2,580,108
$513,335 |
$3,987,037 |
| 30 |
$7,434,480 |
$2,711,088
$539,000 |
$4,184,392 |
|
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