The jackpot for the Powerball draw on Mon May 19, 2025, is projected to be $134 Million, with an option for a cash payout of $60.3 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 Mon May 19, 2025 |
|---|
| Draw Date | Mon May 19, 2025 | | Projected Jackpot | $134,000,000 | | Cash Value | $60,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $60,300,000 | | Federal Tax(24%) | $14,472,000 | | Additional Federal Tax | $7,799,330 | | State Tax(7.25%) | $4,371,750 | | Net Lumpsum Payment | $33,656,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,016,834 |
$706,559
$146,220 |
$1,164,055 |
| 2 |
$2,117,736 |
$743,893
$153,536 |
$1,220,307 |
| 3 |
$2,223,596 |
$783,061
$161,211 |
$1,279,324 |
| 4 |
$2,334,816 |
$824,212
$169,274 |
$1,341,330 |
| 5 |
$2,451,530 |
$867,396
$177,736 |
$1,406,398 |
| 6 |
$2,574,140 |
$912,762
$186,625 |
$1,474,753 |
| 7 |
$2,702,780 |
$960,359
$195,952 |
$1,546,469 |
| 8 |
$2,837,986 |
$1,010,385
$205,754 |
$1,621,847 |
| 9 |
$2,979,892 |
$1,062,890
$216,042 |
$1,700,960 |
| 10 |
$3,128,900 |
$1,118,023
$226,845 |
$1,784,032 |
| 11 |
$3,285,278 |
$1,175,883
$238,183 |
$1,871,212 |
| 12 |
$3,449,562 |
$1,236,668
$250,093 |
$1,962,801 |
| 13 |
$3,622,020 |
$1,300,478
$262,596 |
$2,058,946 |
| 14 |
$3,803,188 |
$1,367,510
$275,731 |
$2,159,947 |
| 15 |
$3,993,334 |
$1,437,864
$289,517 |
$2,265,953 |
| 16 |
$4,192,994 |
$1,511,738
$303,992 |
$2,377,264 |
| 17 |
$4,402,570 |
$1,589,281
$319,186 |
$2,494,103 |
| 18 |
$4,622,732 |
$1,670,741
$335,148 |
$2,616,843 |
| 19 |
$4,853,882 |
$1,756,267
$351,906 |
$2,745,709 |
| 20 |
$5,096,556 |
$1,846,056
$369,500 |
$2,881,000 |
| 21 |
$5,351,424 |
$1,940,357
$387,978 |
$3,023,089 |
| 22 |
$5,619,022 |
$2,039,369
$407,379 |
$3,172,274 |
| 23 |
$5,899,886 |
$2,143,288
$427,742 |
$3,328,856 |
| 24 |
$6,194,954 |
$2,252,463
$449,134 |
$3,493,357 |
| 25 |
$6,504,628 |
$2,367,043
$471,586 |
$3,665,999 |
| 26 |
$6,829,980 |
$2,487,423
$495,174 |
$3,847,383 |
| 27 |
$7,171,412 |
$2,613,753
$519,927 |
$4,037,732 |
| 28 |
$7,529,996 |
$2,746,429
$545,925 |
$4,237,642 |
| 29 |
$7,906,536 |
$2,885,749
$573,224 |
$4,447,563 |
| 30 |
$8,301,836 |
$3,032,010
$601,883 |
$4,667,943 |
|
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