The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(7.25%) | $10,730,000 | | Net Lumpsum Payment | $82,549,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$356,822 |
$2,783,504 |
| 2 |
$5,167,908 |
$1,872,456
$374,673 |
$2,920,779 |
| 3 |
$5,426,238 |
$1,968,038
$393,402 |
$3,064,798 |
| 4 |
$5,697,648 |
$2,068,460
$413,079 |
$3,216,109 |
| 5 |
$5,982,465 |
$2,173,842
$433,729 |
$3,374,894 |
| 6 |
$6,281,670 |
$2,284,548
$455,421 |
$3,541,701 |
| 7 |
$6,595,590 |
$2,400,699
$478,180 |
$3,716,711 |
| 8 |
$6,925,533 |
$2,522,778
$502,101 |
$3,900,654 |
| 9 |
$7,271,826 |
$2,650,906
$527,207 |
$4,093,713 |
| 10 |
$7,635,450 |
$2,785,447
$553,570 |
$4,296,433 |
| 11 |
$8,017,059 |
$2,926,642
$581,237 |
$4,509,180 |
| 12 |
$8,417,961 |
$3,074,976
$610,302 |
$4,732,683 |
| 13 |
$8,838,810 |
$3,230,690
$640,814 |
$4,967,306 |
| 14 |
$9,280,914 |
$3,394,269
$672,866 |
$5,213,779 |
| 15 |
$9,744,927 |
$3,565,953
$706,507 |
$5,472,467 |
| 16 |
$10,232,157 |
$3,746,228
$741,831 |
$5,744,098 |
| 17 |
$10,743,585 |
$3,935,457
$778,910 |
$6,029,218 |
| 18 |
$11,280,846 |
$4,134,243
$817,861 |
$6,328,742 |
| 19 |
$11,844,921 |
$4,342,951
$858,757 |
$6,643,213 |
| 20 |
$12,437,118 |
$4,562,064
$901,691 |
$6,973,363 |
| 21 |
$13,059,072 |
$4,792,187
$946,783 |
$7,320,102 |
| 22 |
$13,712,091 |
$5,033,804
$994,127 |
$7,684,160 |
| 23 |
$14,397,483 |
$5,287,399
$1,043,818 |
$8,066,266 |
| 24 |
$15,117,537 |
$5,553,819
$1,096,021 |
$8,467,697 |
| 25 |
$15,873,234 |
$5,833,427
$1,150,809 |
$8,888,998 |
| 26 |
$16,667,190 |
$6,127,191
$1,208,371 |
$9,331,628 |
| 27 |
$17,500,386 |
$6,435,473
$1,268,778 |
$9,796,135 |
| 28 |
$18,375,438 |
$6,759,242
$1,332,219 |
$10,283,977 |
| 29 |
$19,294,308 |
$7,099,224
$1,398,837 |
$10,796,247 |
| 30 |
$20,258,958 |
$7,456,145
$1,468,774 |
$11,334,039 |
|
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