The jackpot for the Powerball draw on Mon May 12, 2025, is projected to be $93 Million, with an option for a cash payout of $42.3 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 May 12, 2025 |
|---|
| Draw Date | Mon May 12, 2025 | | Projected Jackpot | $93,000,000 | | Cash Value | $42,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $42,300,000 | | Federal Tax(24%) | $10,152,000 | | Additional Federal Tax | $5,459,330 | | State Tax(7.25%) | $3,066,750 | | Net Lumpsum Payment | $23,621,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,399,743 |
$478,235
$101,481 |
$820,027 |
| 2 |
$1,469,772 |
$504,146
$106,558 |
$859,068 |
| 3 |
$1,543,242 |
$531,330
$111,885 |
$900,027 |
| 4 |
$1,620,432 |
$559,890
$117,481 |
$943,061 |
| 5 |
$1,701,435 |
$589,861
$123,354 |
$988,220 |
| 6 |
$1,786,530 |
$621,346
$129,523 |
$1,035,661 |
| 7 |
$1,875,810 |
$654,380
$135,996 |
$1,085,434 |
| 8 |
$1,969,647 |
$689,100
$142,799 |
$1,137,748 |
| 9 |
$2,068,134 |
$725,540
$149,940 |
$1,192,654 |
| 10 |
$2,171,550 |
$763,804
$157,437 |
$1,250,309 |
| 11 |
$2,280,081 |
$803,960
$165,306 |
$1,310,815 |
| 12 |
$2,394,099 |
$846,147
$173,572 |
$1,374,380 |
| 13 |
$2,513,790 |
$890,433
$182,250 |
$1,441,107 |
| 14 |
$2,639,526 |
$936,955
$191,366 |
$1,511,205 |
| 15 |
$2,771,493 |
$985,783
$200,933 |
$1,584,777 |
| 16 |
$2,910,063 |
$1,037,054
$210,980 |
$1,662,029 |
| 17 |
$3,055,515 |
$1,090,871
$221,525 |
$1,743,119 |
| 18 |
$3,208,314 |
$1,147,407
$232,603 |
$1,828,304 |
| 19 |
$3,368,739 |
$1,206,764
$244,234 |
$1,917,741 |
| 20 |
$3,537,162 |
$1,269,080
$256,444 |
$2,011,638 |
| 21 |
$3,714,048 |
$1,334,528
$269,268 |
$2,110,252 |
| 22 |
$3,899,769 |
$1,403,245
$282,733 |
$2,213,791 |
| 23 |
$4,094,697 |
$1,475,368
$296,866 |
$2,322,463 |
| 24 |
$4,299,483 |
$1,551,139
$311,713 |
$2,436,631 |
| 25 |
$4,514,406 |
$1,630,661
$327,294 |
$2,556,451 |
| 26 |
$4,740,210 |
$1,714,208
$343,665 |
$2,682,337 |
| 27 |
$4,977,174 |
$1,801,885
$360,845 |
$2,814,444 |
| 28 |
$5,226,042 |
$1,893,966
$378,888 |
$2,953,188 |
| 29 |
$5,487,372 |
$1,990,658
$397,834 |
$3,098,880 |
| 30 |
$5,761,722 |
$2,092,168
$417,725 |
$3,251,829 |
|
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