The jackpot for the Powerball draw on Sat Jul 4, 2026, is projected to be $396 Million, with an option for a cash payout of $180.2 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 Jul 4, 2026 |
|---|
| Draw Date | Sat Jul 4, 2026 | | Projected Jackpot | $396,000,000 | | Cash Value | $180,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $180,200,000 | | Federal Tax(24%) | $43,248,000 | | Additional Federal Tax | $23,386,330 | | State Tax(7.25%) | $13,064,500 | | Net Lumpsum Payment | $100,501,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,960,196 |
$2,165,603
$432,114 |
$3,362,479 |
| 2 |
$6,258,384 |
$2,275,932
$453,733 |
$3,528,719 |
| 3 |
$6,571,224 |
$2,391,683
$476,414 |
$3,703,127 |
| 4 |
$6,899,904 |
$2,513,295
$500,243 |
$3,886,366 |
| 5 |
$7,244,820 |
$2,640,914
$525,249 |
$4,078,657 |
| 6 |
$7,607,160 |
$2,774,980
$551,519 |
$4,280,661 |
| 7 |
$7,987,320 |
$2,915,639
$579,081 |
$4,492,600 |
| 8 |
$8,386,884 |
$3,063,477
$608,049 |
$4,715,358 |
| 9 |
$8,806,248 |
$3,218,642
$638,453 |
$4,949,153 |
| 10 |
$9,246,600 |
$3,381,572
$670,379 |
$5,194,649 |
| 11 |
$9,708,732 |
$3,552,561
$703,883 |
$5,452,288 |
| 12 |
$10,194,228 |
$3,732,195
$739,082 |
$5,722,951 |
| 13 |
$10,703,880 |
$3,920,766
$776,031 |
$6,007,083 |
| 14 |
$11,239,272 |
$4,118,861
$814,847 |
$6,305,564 |
| 15 |
$11,801,196 |
$4,326,773
$855,587 |
$6,618,836 |
| 16 |
$12,391,236 |
$4,545,088
$898,365 |
$6,947,783 |
| 17 |
$13,010,580 |
$4,774,245
$943,267 |
$7,293,068 |
| 18 |
$13,661,208 |
$5,014,977
$990,438 |
$7,655,793 |
| 19 |
$14,344,308 |
$5,267,724
$1,039,962 |
$8,036,622 |
| 20 |
$15,061,464 |
$5,533,072
$1,091,956 |
$8,436,436 |
| 21 |
$15,814,656 |
$5,811,753
$1,146,563 |
$8,856,340 |
| 22 |
$16,605,468 |
$6,104,354
$1,203,896 |
$9,297,218 |
| 23 |
$17,435,484 |
$6,411,459
$1,264,073 |
$9,759,952 |
| 24 |
$18,307,476 |
$6,734,097
$1,327,292 |
$10,246,087 |
| 25 |
$19,222,632 |
$7,072,704
$1,393,641 |
$10,756,287 |
| 26 |
$20,184,120 |
$7,428,455
$1,463,349 |
$11,292,316 |
| 27 |
$21,193,128 |
$7,801,788
$1,536,502 |
$11,854,838 |
| 28 |
$22,252,824 |
$8,193,875
$1,613,330 |
$12,445,619 |
| 29 |
$23,365,584 |
$8,605,596
$1,694,005 |
$13,065,983 |
| 30 |
$24,533,784 |
$9,037,830
$1,778,699 |
$13,717,255 |
|
|
