The jackpot for the Powerball draw on Mon Sep 15, 2025, is projected to be $64 Million, with an option for a cash payout of $30 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 Sep 15, 2025 |
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Draw Date | Mon Sep 15, 2025 | Projected Jackpot | $64,000,000 | Cash Value | $30,000,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $30,000,000 | Federal Tax(24%) | $7,200,000 | Additional Federal Tax | $3,860,330 | State Tax(7.25%) | $2,175,000 | Net Lumpsum Payment | $16,764,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$963,264 |
$316,738 $69,837 |
$576,689 |
2 |
$1,011,456 |
$334,569 $73,331 |
$603,556 |
3 |
$1,062,016 |
$353,276 $76,996 |
$631,744 |
4 |
$1,115,136 |
$372,931 $80,847 |
$661,358 |
5 |
$1,170,880 |
$393,556 $84,889 |
$692,435 |
6 |
$1,229,440 |
$415,223 $89,134 |
$725,083 |
7 |
$1,290,880 |
$437,956 $93,589 |
$759,335 |
8 |
$1,355,456 |
$461,849 $98,271 |
$795,336 |
9 |
$1,423,232 |
$486,926 $103,184 |
$833,122 |
10 |
$1,494,400 |
$513,258 $108,344 |
$872,798 |
11 |
$1,569,088 |
$540,893 $113,759 |
$914,436 |
12 |
$1,647,552 |
$569,925 $119,448 |
$958,179 |
13 |
$1,729,920 |
$600,401 $125,419 |
$1,004,100 |
14 |
$1,816,448 |
$632,416 $131,692 |
$1,052,340 |
15 |
$1,907,264 |
$666,018 $138,277 |
$1,102,969 |
16 |
$2,002,624 |
$701,301 $145,190 |
$1,156,133 |
17 |
$2,102,720 |
$738,337 $152,447 |
$1,211,936 |
18 |
$2,207,872 |
$777,243 $160,071 |
$1,270,558 |
19 |
$2,318,272 |
$818,091 $168,075 |
$1,332,106 |
20 |
$2,434,176 |
$860,976 $176,478 |
$1,396,722 |
21 |
$2,555,904 |
$906,015 $185,303 |
$1,464,586 |
22 |
$2,683,712 |
$953,304 $194,569 |
$1,535,839 |
23 |
$2,817,856 |
$1,002,937 $204,295 |
$1,610,624 |
24 |
$2,958,784 |
$1,055,080 $214,512 |
$1,689,192 |
25 |
$3,106,688 |
$1,109,805 $225,235 |
$1,771,648 |
26 |
$3,262,080 |
$1,167,300 $236,501 |
$1,858,279 |
27 |
$3,425,152 |
$1,227,637 $248,324 |
$1,949,191 |
28 |
$3,596,416 |
$1,291,004 $260,740 |
$2,044,672 |
29 |
$3,776,256 |
$1,357,545 $273,779 |
$2,144,932 |
30 |
$3,965,056 |
$1,427,401 $287,467 |
$2,250,188 |
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