The jackpot for the Powerball draw on Wed Oct 15, 2025, is projected to be $273 Million, with an option for a cash payout of $127.8 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 Wed Oct 15, 2025 |
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Draw Date | Wed Oct 15, 2025 | Projected Jackpot | $273,000,000 | Cash Value | $127,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $127,800,000 | Federal Tax(24%) | $30,672,000 | Additional Federal Tax | $16,574,330 | State Tax(7.25%) | $9,265,500 | Net Lumpsum Payment | $71,288,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$4,108,923 |
$1,480,632 $297,897 |
$2,330,394 |
2 |
$4,314,492 |
$1,556,692 $312,801 |
$2,444,999 |
3 |
$4,530,162 |
$1,636,490 $328,437 |
$2,565,235 |
4 |
$4,756,752 |
$1,720,329 $344,865 |
$2,691,558 |
5 |
$4,994,535 |
$1,808,308 $362,104 |
$2,824,123 |
6 |
$5,244,330 |
$1,900,732 $380,214 |
$2,963,384 |
7 |
$5,506,410 |
$1,997,702 $399,215 |
$3,109,493 |
8 |
$5,781,867 |
$2,099,621 $419,185 |
$3,263,061 |
9 |
$6,070,974 |
$2,206,591 $440,146 |
$3,424,237 |
10 |
$6,374,550 |
$2,318,914 $462,155 |
$3,593,481 |
11 |
$6,693,141 |
$2,436,793 $485,253 |
$3,771,095 |
12 |
$7,027,839 |
$2,560,631 $509,518 |
$3,957,690 |
13 |
$7,379,190 |
$2,690,631 $534,991 |
$4,153,568 |
14 |
$7,748,286 |
$2,827,196 $561,751 |
$4,359,339 |
15 |
$8,135,673 |
$2,970,529 $589,836 |
$4,575,308 |
16 |
$8,542,443 |
$3,121,034 $619,327 |
$4,802,082 |
17 |
$8,969,415 |
$3,279,014 $650,283 |
$5,040,118 |
18 |
$9,417,954 |
$3,444,973 $682,802 |
$5,290,179 |
19 |
$9,888,879 |
$3,619,216 $716,944 |
$5,552,719 |
20 |
$10,383,282 |
$3,802,145 $752,788 |
$5,828,349 |
21 |
$10,902,528 |
$3,994,266 $790,433 |
$6,117,829 |
22 |
$11,447,709 |
$4,195,983 $829,959 |
$6,421,767 |
23 |
$12,019,917 |
$4,407,700 $871,444 |
$6,740,773 |
24 |
$12,621,063 |
$4,630,124 $915,027 |
$7,075,912 |
25 |
$13,251,966 |
$4,863,558 $960,768 |
$7,427,640 |
26 |
$13,914,810 |
$5,108,810 $1,008,824 |
$7,797,176 |
27 |
$14,610,414 |
$5,366,184 $1,059,255 |
$8,184,975 |
28 |
$15,340,962 |
$5,636,486 $1,112,220 |
$8,592,256 |
29 |
$16,108,092 |
$5,920,324 $1,167,837 |
$9,019,931 |
30 |
$16,913,442 |
$6,218,304 $1,226,225 |
$9,468,913 |
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