The jackpot for the Powerball draw on Wed Sep 16, 2026, is projected to be $271 Million, with an option for a cash payout of $115.1 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 Wed Sep 16, 2026 |
|---|
| Draw Date | Wed Sep 16, 2026 | | Projected Jackpot | $271,000,000 | | Cash Value | $115,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $115,100,000 | | Federal Tax(24%) | $27,624,000 | | Additional Federal Tax | $14,923,330 | | State Tax(7.25%) | $8,344,750 | | Net Lumpsum Payment | $64,207,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,078,821 |
$1,469,494
$295,715 |
$2,313,612 |
| 2 |
$4,282,884 |
$1,544,997
$310,509 |
$2,427,378 |
| 3 |
$4,496,974 |
$1,624,211
$326,031 |
$2,546,732 |
| 4 |
$4,721,904 |
$1,707,435
$342,338 |
$2,672,131 |
| 5 |
$4,957,945 |
$1,794,770
$359,451 |
$2,803,724 |
| 6 |
$5,205,910 |
$1,886,517
$377,428 |
$2,941,965 |
| 7 |
$5,466,070 |
$1,982,776
$396,290 |
$3,087,004 |
| 8 |
$5,739,509 |
$2,083,949
$416,114 |
$3,239,446 |
| 9 |
$6,026,498 |
$2,190,135
$436,921 |
$3,399,442 |
| 10 |
$6,327,850 |
$2,301,635
$458,769 |
$3,567,446 |
| 11 |
$6,644,107 |
$2,418,650
$481,698 |
$3,743,759 |
| 12 |
$6,976,353 |
$2,541,581
$505,786 |
$3,928,986 |
| 13 |
$7,325,130 |
$2,670,628
$531,072 |
$4,123,430 |
| 14 |
$7,691,522 |
$2,806,194
$557,635 |
$4,327,693 |
| 15 |
$8,076,071 |
$2,948,477
$585,515 |
$4,542,079 |
| 16 |
$8,479,861 |
$3,097,879
$614,790 |
$4,767,192 |
| 17 |
$8,903,705 |
$3,254,701
$645,519 |
$5,003,485 |
| 18 |
$9,348,958 |
$3,419,445
$677,799 |
$5,251,714 |
| 19 |
$9,816,433 |
$3,592,411
$711,691 |
$5,512,331 |
| 20 |
$10,307,214 |
$3,774,000
$747,273 |
$5,785,941 |
| 21 |
$10,822,656 |
$3,964,713
$784,643 |
$6,073,300 |
| 22 |
$11,363,843 |
$4,164,952
$823,879 |
$6,375,012 |
| 23 |
$11,931,859 |
$4,375,118
$865,060 |
$6,691,681 |
| 24 |
$12,528,601 |
$4,595,913
$908,324 |
$7,024,364 |
| 25 |
$13,154,882 |
$4,827,637
$953,729 |
$7,373,516 |
| 26 |
$13,812,870 |
$5,071,092
$1,001,433 |
$7,740,345 |
| 27 |
$14,503,378 |
$5,326,580
$1,051,495 |
$8,125,303 |
| 28 |
$15,228,574 |
$5,594,903
$1,104,072 |
$8,529,599 |
| 29 |
$15,990,084 |
$5,876,661
$1,159,281 |
$8,954,142 |
| 30 |
$16,789,534 |
$6,172,458
$1,217,241 |
$9,399,835 |
|
|
