The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 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 Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $294,700,000 | | Federal Tax(24%) | $70,728,000 | | Additional Federal Tax | $38,271,330 | | State Tax(7.25%) | $21,365,750 | | Net Lumpsum Payment | $164,334,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$749,653 |
$5,804,240 |
| 2 |
$10,857,348 |
$3,977,549
$787,158 |
$6,092,641 |
| 3 |
$11,400,078 |
$4,178,359
$826,506 |
$6,395,213 |
| 4 |
$11,970,288 |
$4,389,337
$867,846 |
$6,713,105 |
| 5 |
$12,568,665 |
$4,610,736
$911,228 |
$7,046,701 |
| 6 |
$13,197,270 |
$4,843,320
$956,802 |
$7,397,148 |
| 7 |
$13,856,790 |
$5,087,343
$1,004,617 |
$7,764,830 |
| 8 |
$14,549,973 |
$5,343,820
$1,054,873 |
$8,151,280 |
| 9 |
$15,277,506 |
$5,613,008
$1,107,619 |
$8,556,879 |
| 10 |
$16,041,450 |
$5,895,667
$1,163,005 |
$8,982,778 |
| 11 |
$16,843,179 |
$6,192,307
$1,221,130 |
$9,429,742 |
| 12 |
$17,685,441 |
$6,503,944
$1,282,194 |
$9,899,303 |
| 13 |
$18,569,610 |
$6,831,086
$1,346,297 |
$10,392,227 |
| 14 |
$19,498,434 |
$7,174,751
$1,413,636 |
$10,910,047 |
| 15 |
$20,473,287 |
$7,535,447
$1,484,313 |
$11,453,527 |
| 16 |
$21,496,917 |
$7,914,190
$1,558,526 |
$12,024,201 |
| 17 |
$22,571,385 |
$8,311,743
$1,636,425 |
$12,623,217 |
| 18 |
$23,700,126 |
$8,729,377
$1,718,259 |
$13,252,490 |
| 19 |
$24,885,201 |
$9,167,855
$1,804,177 |
$13,913,169 |
| 20 |
$26,129,358 |
$9,628,193
$1,894,378 |
$14,606,787 |
| 21 |
$27,436,032 |
$10,111,662
$1,989,112 |
$15,335,258 |
| 22 |
$28,807,971 |
$10,619,280
$2,088,578 |
$16,100,113 |
| 23 |
$30,247,923 |
$11,152,062
$2,192,974 |
$16,902,887 |
| 24 |
$31,760,697 |
$11,711,788
$2,302,651 |
$17,746,258 |
| 25 |
$33,348,354 |
$12,299,221
$2,417,756 |
$18,631,377 |
| 26 |
$35,016,390 |
$12,916,395
$2,538,688 |
$19,561,307 |
| 27 |
$36,766,866 |
$13,564,071
$2,665,598 |
$20,537,197 |
| 28 |
$38,605,278 |
$14,244,283
$2,798,883 |
$21,562,112 |
| 29 |
$40,535,748 |
$14,958,557
$2,938,842 |
$22,638,349 |
| 30 |
$42,562,398 |
$15,708,418
$3,085,774 |
$23,768,206 |
|
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