The jackpot for the Powerball draw on Sat Jul 5, 2025, is projected to be $190 Million, with an option for a cash payout of $87 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 Jul 5, 2025 |
|---|
| Draw Date | Sat Jul 5, 2025 | | Projected Jackpot | $190,000,000 | | Cash Value | $87,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $87,000,000 | | Federal Tax(24%) | $20,880,000 | | Additional Federal Tax | $11,270,330 | | State Tax(7.25%) | $6,307,500 | | Net Lumpsum Payment | $48,542,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,859,690 |
$1,018,416
$207,328 |
$1,633,946 |
| 2 |
$3,002,760 |
$1,071,352
$217,700 |
$1,713,708 |
| 3 |
$3,152,860 |
$1,126,889
$228,582 |
$1,797,389 |
| 4 |
$3,310,560 |
$1,185,238
$240,016 |
$1,885,306 |
| 5 |
$3,476,050 |
$1,246,469
$252,014 |
$1,977,567 |
| 6 |
$3,649,900 |
$1,310,793
$264,618 |
$2,074,489 |
| 7 |
$3,832,300 |
$1,378,281
$277,842 |
$2,176,177 |
| 8 |
$4,024,010 |
$1,449,214
$291,741 |
$2,283,055 |
| 9 |
$4,225,220 |
$1,523,662
$306,328 |
$2,395,230 |
| 10 |
$4,436,500 |
$1,601,835
$321,646 |
$2,513,019 |
| 11 |
$4,658,230 |
$1,683,875
$337,722 |
$2,636,633 |
| 12 |
$4,891,170 |
$1,770,063
$354,610 |
$2,766,497 |
| 13 |
$5,135,700 |
$1,860,539
$372,338 |
$2,902,823 |
| 14 |
$5,392,580 |
$1,955,585
$390,962 |
$3,046,033 |
| 15 |
$5,662,190 |
$2,055,341
$410,509 |
$3,196,340 |
| 16 |
$5,945,290 |
$2,160,088
$431,034 |
$3,354,168 |
| 17 |
$6,242,450 |
$2,270,037
$452,578 |
$3,519,835 |
| 18 |
$6,554,620 |
$2,385,540
$475,210 |
$3,693,870 |
| 19 |
$6,882,370 |
$2,506,807
$498,972 |
$3,876,591 |
| 20 |
$7,226,460 |
$2,634,121
$523,918 |
$4,068,421 |
| 21 |
$7,587,840 |
$2,767,831
$550,118 |
$4,269,891 |
| 22 |
$7,967,270 |
$2,908,220
$577,627 |
$4,481,423 |
| 23 |
$8,365,510 |
$3,055,569
$606,499 |
$4,703,442 |
| 24 |
$8,783,890 |
$3,210,370
$636,832 |
$4,936,688 |
| 25 |
$9,222,980 |
$3,372,833
$668,666 |
$5,181,481 |
| 26 |
$9,684,300 |
$3,543,521
$702,112 |
$5,438,667 |
| 27 |
$10,168,420 |
$3,722,646
$737,210 |
$5,708,564 |
| 28 |
$10,676,860 |
$3,910,769
$774,072 |
$5,992,019 |
| 29 |
$11,210,760 |
$4,108,312
$812,780 |
$6,289,668 |
| 30 |
$11,771,260 |
$4,315,697
$853,416 |
$6,602,147 |
|
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