The jackpot for the Powerball draw on Sat Jan 10, 2026, is projected to be $124 Million, with an option for a cash payout of $56 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 Jan 10, 2026 |
|---|
| Draw Date | Sat Jan 10, 2026 | | Projected Jackpot | $124,000,000 | | Cash Value | $56,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $56,000,000 | | Federal Tax(24%) | $13,440,000 | | Additional Federal Tax | $7,240,330 | | State Tax(7.25%) | $4,060,000 | | Net Lumpsum Payment | $31,259,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,866,324 |
$650,870
$135,308 |
$1,080,146 |
| 2 |
$1,959,696 |
$685,418
$142,078 |
$1,132,200 |
| 3 |
$2,057,656 |
$721,663
$149,180 |
$1,186,813 |
| 4 |
$2,160,576 |
$759,744
$156,642 |
$1,244,190 |
| 5 |
$2,268,580 |
$799,705
$164,472 |
$1,304,403 |
| 6 |
$2,382,040 |
$841,685
$172,698 |
$1,367,657 |
| 7 |
$2,501,080 |
$885,730
$181,328 |
$1,434,022 |
| 8 |
$2,626,196 |
$932,023
$190,399 |
$1,503,774 |
| 9 |
$2,757,512 |
$980,610
$199,920 |
$1,576,982 |
| 10 |
$2,895,400 |
$1,031,628
$209,917 |
$1,653,855 |
| 11 |
$3,040,108 |
$1,085,170
$220,408 |
$1,734,530 |
| 12 |
$3,192,132 |
$1,141,419
$231,430 |
$1,819,283 |
| 13 |
$3,351,720 |
$1,200,467
$243,000 |
$1,908,253 |
| 14 |
$3,519,368 |
$1,262,497
$255,154 |
$2,001,717 |
| 15 |
$3,695,324 |
$1,327,600
$267,911 |
$2,099,813 |
| 16 |
$3,880,084 |
$1,395,961
$281,306 |
$2,202,817 |
| 17 |
$4,074,020 |
$1,467,718
$295,366 |
$2,310,936 |
| 18 |
$4,277,752 |
$1,543,099
$310,137 |
$2,424,516 |
| 19 |
$4,491,652 |
$1,622,242
$325,645 |
$2,543,765 |
| 20 |
$4,716,216 |
$1,705,330
$341,926 |
$2,668,960 |
| 21 |
$4,952,064 |
$1,792,594
$359,025 |
$2,800,445 |
| 22 |
$5,199,692 |
$1,884,216
$376,978 |
$2,938,498 |
| 23 |
$5,459,596 |
$1,980,381
$395,821 |
$3,083,394 |
| 24 |
$5,732,644 |
$2,081,409
$415,617 |
$3,235,618 |
| 25 |
$6,019,208 |
$2,187,437
$436,393 |
$3,395,378 |
| 26 |
$6,320,280 |
$2,298,834
$458,220 |
$3,563,226 |
| 27 |
$6,636,232 |
$2,415,736
$481,127 |
$3,739,369 |
| 28 |
$6,968,056 |
$2,538,511
$505,184 |
$3,924,361 |
| 29 |
$7,316,496 |
$2,667,434
$530,446 |
$4,118,616 |
| 30 |
$7,682,296 |
$2,802,780
$556,966 |
$4,322,550 |
|
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