The jackpot for the Powerball draw on Sat Aug 16, 2025, is projected to be $565 Million, with an option for a cash payout of $258.8 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 Sat Aug 16, 2025 |
|---|
| Draw Date | Sat Aug 16, 2025 | | Projected Jackpot | $565,000,000 | | Cash Value | $258,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $258,800,000 | | Federal Tax(24%) | $62,112,000 | | Additional Federal Tax | $33,604,330 | | State Tax(7.25%) | $18,763,000 | | Net Lumpsum Payment | $144,320,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,503,815 |
$3,106,742
$616,527 |
$4,780,546 |
| 2 |
$8,929,260 |
$3,264,157
$647,371 |
$5,017,732 |
| 3 |
$9,375,610 |
$3,429,306
$679,732 |
$5,266,572 |
| 4 |
$9,844,560 |
$3,602,818
$713,731 |
$5,528,011 |
| 5 |
$10,336,675 |
$3,784,900
$749,409 |
$5,802,366 |
| 6 |
$10,853,650 |
$3,976,181
$786,890 |
$6,090,579 |
| 7 |
$11,396,050 |
$4,176,869
$826,214 |
$6,392,967 |
| 8 |
$11,966,135 |
$4,387,800
$867,545 |
$6,710,790 |
| 9 |
$12,564,470 |
$4,609,184
$910,924 |
$7,044,362 |
| 10 |
$13,192,750 |
$4,841,648
$956,474 |
$7,394,628 |
| 11 |
$13,852,105 |
$5,085,609
$1,004,278 |
$7,762,218 |
| 12 |
$14,544,795 |
$5,341,905
$1,054,498 |
$8,148,392 |
| 13 |
$15,271,950 |
$5,610,952
$1,107,216 |
$8,553,782 |
| 14 |
$16,035,830 |
$5,893,587
$1,162,598 |
$8,979,645 |
| 15 |
$16,837,565 |
$6,190,229
$1,220,723 |
$9,426,613 |
| 16 |
$17,679,415 |
$6,501,714
$1,281,758 |
$9,895,943 |
| 17 |
$18,563,075 |
$6,828,668
$1,345,823 |
$10,388,584 |
| 18 |
$19,491,370 |
$7,172,137
$1,413,124 |
$10,906,109 |
| 19 |
$20,465,995 |
$7,532,749
$1,483,785 |
$11,449,461 |
| 20 |
$21,489,210 |
$7,911,338
$1,557,968 |
$12,019,904 |
| 21 |
$22,563,840 |
$8,308,951
$1,635,878 |
$12,619,011 |
| 22 |
$23,692,145 |
$8,726,424
$1,717,681 |
$13,248,040 |
| 23 |
$24,876,385 |
$9,164,593
$1,803,538 |
$13,908,254 |
| 24 |
$26,120,515 |
$9,624,921
$1,893,737 |
$14,601,857 |
| 25 |
$27,426,230 |
$10,108,035
$1,988,402 |
$15,329,793 |
| 26 |
$28,798,050 |
$10,615,609
$2,087,859 |
$16,094,582 |
| 27 |
$30,237,670 |
$11,148,268
$2,192,231 |
$16,897,171 |
| 28 |
$31,749,610 |
$11,707,686
$2,301,847 |
$17,740,077 |
| 29 |
$33,337,260 |
$12,295,117
$2,416,951 |
$18,625,192 |
| 30 |
$35,004,010 |
$12,911,814
$2,537,791 |
$19,554,405 |
|
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