The jackpot for the Powerball draw on Sat Oct 11, 2025, is projected to be $244 Million, with an option for a cash payout of $114.2 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 Oct 11, 2025 |
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Draw Date | Sat Oct 11, 2025 | Projected Jackpot | $244,000,000 | Cash Value | $114,200,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $114,200,000 | Federal Tax(24%) | $27,408,000 | Additional Federal Tax | $14,806,330 | State Tax(7.25%) | $8,279,500 | Net Lumpsum Payment | $63,706,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$3,672,444 |
$1,319,135 $266,252 |
$2,087,057 |
2 |
$3,856,176 |
$1,387,116 $279,573 |
$2,189,487 |
3 |
$4,048,936 |
$1,458,437 $293,548 |
$2,296,951 |
4 |
$4,251,456 |
$1,533,369 $308,231 |
$2,409,856 |
5 |
$4,463,980 |
$1,612,003 $323,639 |
$2,528,338 |
6 |
$4,687,240 |
$1,694,609 $339,825 |
$2,652,806 |
7 |
$4,921,480 |
$1,781,278 $356,807 |
$2,783,395 |
8 |
$5,167,676 |
$1,872,371 $374,657 |
$2,920,648 |
9 |
$5,426,072 |
$1,967,977 $393,390 |
$3,064,705 |
10 |
$5,697,400 |
$2,068,368 $413,062 |
$3,215,970 |
11 |
$5,982,148 |
$2,173,725 $433,706 |
$3,374,717 |
12 |
$6,281,292 |
$2,284,408 $455,394 |
$3,541,490 |
13 |
$6,595,320 |
$2,400,599 $478,161 |
$3,716,560 |
14 |
$6,925,208 |
$2,522,657 $502,078 |
$3,900,473 |
15 |
$7,271,444 |
$2,650,765 $527,180 |
$4,093,499 |
16 |
$7,635,004 |
$2,785,282 $553,538 |
$4,296,184 |
17 |
$8,016,620 |
$2,926,480 $581,205 |
$4,508,935 |
18 |
$8,417,512 |
$3,074,810 $610,270 |
$4,732,432 |
19 |
$8,838,412 |
$3,230,543 $640,785 |
$4,967,084 |
20 |
$9,280,296 |
$3,394,040 $672,821 |
$5,213,435 |
21 |
$9,744,384 |
$3,565,752 $706,468 |
$5,472,164 |
22 |
$10,231,652 |
$3,746,042 $741,795 |
$5,743,815 |
23 |
$10,743,076 |
$3,935,269 $778,873 |
$6,028,934 |
24 |
$11,280,364 |
$4,134,065 $817,826 |
$6,328,473 |
25 |
$11,844,248 |
$4,342,702 $858,708 |
$6,642,838 |
26 |
$12,436,680 |
$4,561,902 $901,659 |
$6,973,119 |
27 |
$13,058,392 |
$4,791,935 $946,733 |
$7,319,724 |
28 |
$13,711,336 |
$5,033,525 $994,072 |
$7,683,739 |
29 |
$14,396,976 |
$5,287,212 $1,043,781 |
$8,065,983 |
30 |
$15,116,776 |
$5,553,538 $1,095,966 |
$8,467,272 |
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