The jackpot for the Powerball draw on Sat Jun 20, 2026, is projected to be $302 Million, with an option for a cash payout of $135.3 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 Jun 20, 2026 |
|---|
| Draw Date | Sat Jun 20, 2026 | | Projected Jackpot | $302,000,000 | | Cash Value | $135,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $135,300,000 | | Federal Tax(24%) | $32,472,000 | | Additional Federal Tax | $17,549,330 | | State Tax(7.25%) | $9,809,250 | | Net Lumpsum Payment | $75,469,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,545,402 |
$1,642,129
$329,542 |
$2,573,731 |
| 2 |
$4,772,808 |
$1,726,269
$346,029 |
$2,700,510 |
| 3 |
$5,011,388 |
$1,814,544
$363,326 |
$2,833,518 |
| 4 |
$5,262,048 |
$1,907,288
$381,498 |
$2,973,262 |
| 5 |
$5,525,090 |
$2,004,614
$400,569 |
$3,119,907 |
| 6 |
$5,801,420 |
$2,106,856
$420,603 |
$3,273,961 |
| 7 |
$6,091,340 |
$2,214,126
$441,622 |
$3,435,592 |
| 8 |
$6,396,058 |
$2,326,872
$463,714 |
$3,605,472 |
| 9 |
$6,715,876 |
$2,445,205
$486,901 |
$3,783,770 |
| 10 |
$7,051,700 |
$2,569,459
$511,248 |
$3,970,993 |
| 11 |
$7,404,134 |
$2,699,860
$536,800 |
$4,167,474 |
| 12 |
$7,774,386 |
$2,836,853
$563,643 |
$4,373,890 |
| 13 |
$8,163,060 |
$2,980,663
$591,822 |
$4,590,575 |
| 14 |
$8,571,364 |
$3,131,735
$621,424 |
$4,818,205 |
| 15 |
$8,999,902 |
$3,290,294
$652,493 |
$5,057,115 |
| 16 |
$9,449,882 |
$3,456,787
$685,116 |
$5,307,979 |
| 17 |
$9,922,210 |
$3,631,548
$719,360 |
$5,571,302 |
| 18 |
$10,418,396 |
$3,815,137
$755,334 |
$5,847,925 |
| 19 |
$10,939,346 |
$4,007,888
$793,103 |
$6,138,355 |
| 20 |
$11,486,268 |
$4,210,250
$832,754 |
$6,443,264 |
| 21 |
$12,060,672 |
$4,422,779
$874,399 |
$6,763,494 |
| 22 |
$12,663,766 |
$4,645,924
$918,123 |
$7,099,719 |
| 23 |
$13,296,758 |
$4,880,131
$964,015 |
$7,452,612 |
| 24 |
$13,961,762 |
$5,126,182
$1,012,228 |
$7,823,352 |
| 25 |
$14,659,684 |
$5,384,413
$1,062,827 |
$8,212,444 |
| 26 |
$15,392,940 |
$5,655,718
$1,115,988 |
$8,621,234 |
| 27 |
$16,162,436 |
$5,940,432
$1,171,777 |
$9,050,227 |
| 28 |
$16,970,588 |
$6,239,448
$1,230,368 |
$9,500,772 |
| 29 |
$17,819,208 |
$6,553,437
$1,291,893 |
$9,973,878 |
| 30 |
$18,710,108 |
$6,883,070
$1,356,483 |
$10,470,555 |
|
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