The jackpot for the Powerball draw on Mon Feb 23, 2026, is projected to be $203 Million, with an option for a cash payout of $94.6 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 Feb 23, 2026 |
|---|
| Draw Date | Mon Feb 23, 2026 | | Projected Jackpot | $203,000,000 | | Cash Value | $94,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $94,600,000 | | Federal Tax(24%) | $22,704,000 | | Additional Federal Tax | $12,258,330 | | State Tax(7.25%) | $6,858,500 | | Net Lumpsum Payment | $52,779,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,055,353 |
$1,090,811
$221,513 |
$1,743,029 |
| 2 |
$3,208,212 |
$1,147,369
$232,595 |
$1,828,248 |
| 3 |
$3,368,582 |
$1,206,706
$244,222 |
$1,917,654 |
| 4 |
$3,537,072 |
$1,269,047
$256,438 |
$2,011,587 |
| 5 |
$3,713,885 |
$1,334,468
$269,257 |
$2,110,160 |
| 6 |
$3,899,630 |
$1,403,193
$282,723 |
$2,213,714 |
| 7 |
$4,094,510 |
$1,475,299
$296,852 |
$2,322,359 |
| 8 |
$4,299,337 |
$1,551,085
$311,702 |
$2,436,550 |
| 9 |
$4,514,314 |
$1,630,627
$327,288 |
$2,556,399 |
| 10 |
$4,740,050 |
$1,714,149
$343,654 |
$2,682,247 |
| 11 |
$4,976,951 |
$1,801,802
$360,829 |
$2,814,320 |
| 12 |
$5,225,829 |
$1,893,887
$378,873 |
$2,953,069 |
| 13 |
$5,487,090 |
$1,990,554
$397,814 |
$3,098,722 |
| 14 |
$5,761,546 |
$2,092,102
$417,712 |
$3,251,732 |
| 15 |
$6,049,603 |
$2,198,683
$438,596 |
$3,412,324 |
| 16 |
$6,352,073 |
$2,310,597
$460,525 |
$3,580,951 |
| 17 |
$6,669,565 |
$2,428,069
$483,543 |
$3,757,953 |
| 18 |
$7,003,094 |
$2,551,475
$507,724 |
$3,943,895 |
| 19 |
$7,353,269 |
$2,681,040
$533,112 |
$4,139,117 |
| 20 |
$7,720,902 |
$2,817,064
$559,765 |
$4,344,073 |
| 21 |
$8,107,008 |
$2,959,923
$587,758 |
$4,559,327 |
| 22 |
$8,512,399 |
$3,109,918
$617,149 |
$4,785,332 |
| 23 |
$8,937,887 |
$3,267,349
$647,997 |
$5,022,541 |
| 24 |
$9,384,893 |
$3,432,741
$680,405 |
$5,271,747 |
| 25 |
$9,854,026 |
$3,606,320
$714,417 |
$5,533,289 |
| 26 |
$10,346,910 |
$3,788,687
$750,151 |
$5,808,072 |
| 27 |
$10,864,154 |
$3,980,067
$787,651 |
$6,096,436 |
| 28 |
$11,407,382 |
$4,181,062
$827,035 |
$6,399,285 |
| 29 |
$11,977,812 |
$4,392,121
$868,391 |
$6,717,300 |
| 30 |
$12,576,662 |
$4,613,695
$911,808 |
$7,051,159 |
|
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