The jackpot for the Powerball draw on Mon Apr 21, 2025, is projected to be $139 Million, with an option for a cash payout of $63.8 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 Mon Apr 21, 2025 |
|---|
| Draw Date | Mon Apr 21, 2025 | | Projected Jackpot | $139,000,000 | | Cash Value | $63,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $63,800,000 | | Federal Tax(24%) | $15,312,000 | | Additional Federal Tax | $8,254,330 | | State Tax(7.25%) | $4,625,500 | | Net Lumpsum Payment | $35,608,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,092,089 |
$734,403
$151,676 |
$1,206,010 |
| 2 |
$2,196,756 |
$773,130
$159,265 |
$1,264,361 |
| 3 |
$2,306,566 |
$813,760
$167,226 |
$1,325,580 |
| 4 |
$2,421,936 |
$856,447
$175,590 |
$1,389,899 |
| 5 |
$2,543,005 |
$901,242
$184,368 |
$1,457,395 |
| 6 |
$2,670,190 |
$948,301
$193,589 |
$1,528,300 |
| 7 |
$2,803,630 |
$997,673
$203,263 |
$1,602,694 |
| 8 |
$2,943,881 |
$1,049,566
$213,431 |
$1,680,884 |
| 9 |
$3,091,082 |
$1,104,031
$224,103 |
$1,762,948 |
| 10 |
$3,245,650 |
$1,161,221
$235,310 |
$1,849,119 |
| 11 |
$3,407,863 |
$1,221,240
$247,070 |
$1,939,553 |
| 12 |
$3,578,277 |
$1,284,293
$259,425 |
$2,034,559 |
| 13 |
$3,757,170 |
$1,350,483
$272,395 |
$2,134,292 |
| 14 |
$3,945,098 |
$1,420,017
$286,020 |
$2,239,061 |
| 15 |
$4,142,339 |
$1,492,996
$300,320 |
$2,349,023 |
| 16 |
$4,349,449 |
$1,569,627
$315,335 |
$2,464,487 |
| 17 |
$4,566,845 |
$1,650,063
$331,096 |
$2,585,686 |
| 18 |
$4,795,222 |
$1,734,563
$347,654 |
$2,713,005 |
| 19 |
$5,034,997 |
$1,823,279
$365,037 |
$2,846,681 |
| 20 |
$5,286,726 |
$1,916,419
$383,288 |
$2,987,019 |
| 21 |
$5,551,104 |
$2,014,239
$402,455 |
$3,134,410 |
| 22 |
$5,828,687 |
$2,116,945
$422,580 |
$3,289,162 |
| 23 |
$6,120,031 |
$2,224,742
$443,702 |
$3,451,587 |
| 24 |
$6,426,109 |
$2,337,991
$465,893 |
$3,622,225 |
| 25 |
$6,747,338 |
$2,456,845
$489,182 |
$3,801,311 |
| 26 |
$7,084,830 |
$2,581,717
$513,650 |
$3,989,463 |
| 27 |
$7,439,002 |
$2,712,761
$539,328 |
$4,186,913 |
| 28 |
$7,810,966 |
$2,850,388
$566,295 |
$4,394,283 |
| 29 |
$8,201,556 |
$2,994,906
$594,613 |
$4,612,037 |
| 30 |
$8,611,606 |
$3,146,625
$624,341 |
$4,840,640 |
|
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