The jackpot for the Powerball draw on Sat Oct 31, 2026, is projected to be $760 Million, with an option for a cash payout of $326 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 31, 2026 |
|---|
| Draw Date | Sat Oct 31, 2026 | | Projected Jackpot | $760,000,000 | | Cash Value | $326,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $326,000,000 | | Federal Tax(24%) | $78,240,000 | | Additional Federal Tax | $42,340,330 | | State Tax(7.25%) | $23,635,000 | | Net Lumpsum Payment | $181,784,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,438,760 |
$4,192,672
$829,310 |
$6,416,778 |
| 2 |
$12,011,040 |
$4,404,415
$870,800 |
$6,735,825 |
| 3 |
$12,611,440 |
$4,626,563
$914,329 |
$7,070,548 |
| 4 |
$13,242,240 |
$4,859,959
$960,062 |
$7,422,219 |
| 5 |
$13,904,200 |
$5,104,884
$1,008,055 |
$7,791,261 |
| 6 |
$14,599,600 |
$5,362,182
$1,058,471 |
$8,178,947 |
| 7 |
$15,329,200 |
$5,632,134
$1,111,367 |
$8,585,699 |
| 8 |
$16,096,040 |
$5,915,865
$1,166,963 |
$9,013,212 |
| 9 |
$16,900,880 |
$6,213,656
$1,225,314 |
$9,461,910 |
| 10 |
$17,746,000 |
$6,526,350
$1,286,585 |
$9,933,065 |
| 11 |
$18,632,920 |
$6,854,511
$1,350,887 |
$10,427,522 |
| 12 |
$19,564,680 |
$7,199,262
$1,418,439 |
$10,946,979 |
| 13 |
$20,542,800 |
$7,561,166
$1,489,353 |
$11,492,281 |
| 14 |
$21,570,320 |
$7,941,349
$1,563,848 |
$12,065,123 |
| 15 |
$22,648,760 |
$8,340,372
$1,642,035 |
$12,666,353 |
| 16 |
$23,781,160 |
$8,759,360
$1,724,134 |
$13,297,666 |
| 17 |
$24,969,800 |
$9,199,156
$1,810,311 |
$13,960,333 |
| 18 |
$26,218,480 |
$9,661,168
$1,900,840 |
$14,656,472 |
| 19 |
$27,529,480 |
$10,146,238
$1,995,887 |
$15,387,355 |
| 20 |
$28,905,840 |
$10,655,491
$2,095,673 |
$16,154,676 |
| 21 |
$30,351,360 |
$11,190,334
$2,200,474 |
$16,960,552 |
| 22 |
$31,869,080 |
$11,751,890
$2,310,508 |
$17,806,682 |
| 23 |
$33,462,040 |
$12,341,285
$2,425,998 |
$18,694,757 |
| 24 |
$35,135,560 |
$12,960,488
$2,547,328 |
$19,627,744 |
| 25 |
$36,891,920 |
$13,610,341
$2,674,664 |
$20,606,915 |
| 26 |
$38,737,200 |
$14,293,094
$2,808,447 |
$21,635,659 |
| 27 |
$40,673,680 |
$15,009,592
$2,948,842 |
$22,715,246 |
| 28 |
$42,707,440 |
$15,762,083
$3,096,289 |
$23,849,068 |
| 29 |
$44,843,040 |
$16,552,255
$3,251,120 |
$25,039,665 |
| 30 |
$47,085,040 |
$17,381,795
$3,413,665 |
$26,289,580 |
|
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