The jackpot for the Powerball draw on Sat Aug 9, 2025, is projected to be $482 Million, with an option for a cash payout of $218.9 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 Aug 9, 2025 |
|---|
| Draw Date | Sat Aug 9, 2025 | | Projected Jackpot | $482,000,000 | | Cash Value | $218,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $218,900,000 | | Federal Tax(24%) | $52,536,000 | | Additional Federal Tax | $28,417,330 | | State Tax(7.25%) | $15,870,250 | | Net Lumpsum Payment | $122,076,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,254,582 |
$2,644,526
$525,957 |
$4,084,099 |
| 2 |
$7,617,528 |
$2,778,816
$552,271 |
$4,286,441 |
| 3 |
$7,998,308 |
$2,919,704
$579,877 |
$4,498,727 |
| 4 |
$8,398,368 |
$3,067,727
$608,882 |
$4,721,759 |
| 5 |
$8,818,190 |
$3,223,061
$639,319 |
$4,955,810 |
| 6 |
$9,259,220 |
$3,386,242
$671,293 |
$5,201,685 |
| 7 |
$9,721,940 |
$3,557,448
$704,841 |
$5,459,651 |
| 8 |
$10,208,278 |
$3,737,393
$740,100 |
$5,730,785 |
| 9 |
$10,718,716 |
$3,926,255
$777,107 |
$6,015,354 |
| 10 |
$11,254,700 |
$4,124,569
$815,966 |
$6,314,165 |
| 11 |
$11,817,194 |
$4,332,692
$856,747 |
$6,627,755 |
| 12 |
$12,408,126 |
$4,551,337
$899,589 |
$6,957,200 |
| 13 |
$13,028,460 |
$4,780,861
$944,563 |
$7,303,036 |
| 14 |
$13,680,124 |
$5,021,976
$991,809 |
$7,666,339 |
| 15 |
$14,364,082 |
$5,275,041
$1,041,396 |
$8,047,645 |
| 16 |
$15,082,262 |
$5,540,767
$1,093,464 |
$8,448,031 |
| 17 |
$15,836,110 |
$5,819,691
$1,148,118 |
$8,868,301 |
| 18 |
$16,628,036 |
$6,112,704
$1,205,533 |
$9,309,799 |
| 19 |
$17,459,486 |
$6,420,340
$1,265,813 |
$9,773,333 |
| 20 |
$18,332,388 |
$6,743,314
$1,329,098 |
$10,259,976 |
| 21 |
$19,249,152 |
$7,082,517
$1,395,564 |
$10,771,071 |
| 22 |
$20,211,706 |
$7,438,662
$1,465,349 |
$11,307,695 |
| 23 |
$21,221,978 |
$7,812,462
$1,538,593 |
$11,870,923 |
| 24 |
$22,283,342 |
$8,205,167
$1,615,542 |
$12,462,633 |
| 25 |
$23,397,244 |
$8,617,311
$1,696,300 |
$13,083,633 |
| 26 |
$24,567,540 |
$9,050,320
$1,781,147 |
$13,736,073 |
| 27 |
$25,795,676 |
$9,504,731
$1,870,187 |
$14,420,758 |
| 28 |
$27,085,508 |
$9,981,968
$1,963,699 |
$15,139,841 |
| 29 |
$28,439,928 |
$10,483,104
$2,061,895 |
$15,894,929 |
| 30 |
$29,861,828 |
$11,009,207
$2,164,983 |
$16,687,638 |
|
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