The jackpot for the Powerball draw on Mon Jul 20, 2026, is projected to be $544 Million, with an option for a cash payout of $241.6 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 Jul 20, 2026 |
|---|
| Draw Date | Mon Jul 20, 2026 | | Projected Jackpot | $544,000,000 | | Cash Value | $241,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,600,000 | | Federal Tax(24%) | $57,984,000 | | Additional Federal Tax | $31,368,330 | | State Tax(7.25%) | $17,516,000 | | Net Lumpsum Payment | $134,731,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,187,744 |
$2,989,796
$593,611 |
$4,604,337 |
| 2 |
$8,597,376 |
$3,141,360
$623,310 |
$4,832,706 |
| 3 |
$9,027,136 |
$3,300,371
$654,467 |
$5,072,298 |
| 4 |
$9,478,656 |
$3,467,433
$687,203 |
$5,324,020 |
| 5 |
$9,952,480 |
$3,642,748
$721,555 |
$5,588,177 |
| 6 |
$10,450,240 |
$3,826,919
$757,642 |
$5,865,679 |
| 7 |
$10,972,480 |
$4,020,148
$795,505 |
$6,156,827 |
| 8 |
$11,521,376 |
$4,223,240
$835,300 |
$6,462,836 |
| 9 |
$12,097,472 |
$4,436,395
$877,067 |
$6,784,010 |
| 10 |
$12,702,400 |
$4,660,218
$920,924 |
$7,121,258 |
| 11 |
$13,337,248 |
$4,895,112
$966,950 |
$7,475,186 |
| 12 |
$14,004,192 |
$5,141,881
$1,015,304 |
$7,847,007 |
| 13 |
$14,704,320 |
$5,400,929
$1,066,063 |
$8,237,328 |
| 14 |
$15,439,808 |
$5,673,059
$1,119,386 |
$8,647,363 |
| 15 |
$16,211,744 |
$5,958,676
$1,175,351 |
$9,077,717 |
| 16 |
$17,022,304 |
$6,258,583
$1,234,117 |
$9,529,604 |
| 17 |
$17,873,120 |
$6,573,385
$1,295,801 |
$10,003,934 |
| 18 |
$18,766,912 |
$6,904,088
$1,360,601 |
$10,502,223 |
| 19 |
$19,705,312 |
$7,251,296
$1,428,635 |
$11,025,381 |
| 20 |
$20,690,496 |
$7,615,814
$1,500,061 |
$11,574,621 |
| 21 |
$21,725,184 |
$7,998,648
$1,575,076 |
$12,151,460 |
| 22 |
$22,811,552 |
$8,400,605
$1,653,838 |
$12,757,109 |
| 23 |
$23,951,776 |
$8,822,488
$1,736,504 |
$13,392,784 |
| 24 |
$25,149,664 |
$9,265,706
$1,823,351 |
$14,060,607 |
| 25 |
$26,406,848 |
$9,730,864
$1,914,496 |
$14,761,488 |
| 26 |
$27,727,680 |
$10,219,572
$2,010,257 |
$15,497,851 |
| 27 |
$29,113,792 |
$10,732,433
$2,110,750 |
$16,270,609 |
| 28 |
$30,569,536 |
$11,271,059
$2,216,291 |
$17,082,186 |
| 29 |
$32,098,176 |
$11,836,656
$2,327,118 |
$17,934,402 |
| 30 |
$33,702,976 |
$12,430,432
$2,443,466 |
$18,829,078 |
|
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