The jackpot for the Powerball draw on Wed Jun 17, 2026, is projected to be $283 Million, with an option for a cash payout of $126.8 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 Jun 17, 2026 |
|---|
| Draw Date | Wed Jun 17, 2026 | | Projected Jackpot | $283,000,000 | | Cash Value | $126,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,800,000 | | Federal Tax(24%) | $30,432,000 | | Additional Federal Tax | $16,444,330 | | State Tax(7.25%) | $9,193,000 | | Net Lumpsum Payment | $70,730,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,259,433 |
$1,536,321
$308,809 |
$2,414,303 |
| 2 |
$4,472,532 |
$1,615,167
$324,259 |
$2,533,106 |
| 3 |
$4,696,102 |
$1,697,888
$340,467 |
$2,657,747 |
| 4 |
$4,930,992 |
$1,784,797
$357,497 |
$2,788,698 |
| 5 |
$5,177,485 |
$1,876,000
$375,368 |
$2,926,117 |
| 6 |
$5,436,430 |
$1,971,809
$394,141 |
$3,070,480 |
| 7 |
$5,708,110 |
$2,072,331
$413,838 |
$3,221,941 |
| 8 |
$5,993,657 |
$2,177,983
$434,540 |
$3,381,134 |
| 9 |
$6,293,354 |
$2,288,871
$456,268 |
$3,548,215 |
| 10 |
$6,608,050 |
$2,405,309
$479,084 |
$3,723,657 |
| 11 |
$6,938,311 |
$2,527,505
$503,028 |
$3,907,778 |
| 12 |
$7,285,269 |
$2,655,880
$528,182 |
$4,101,207 |
| 13 |
$7,649,490 |
$2,790,642
$554,588 |
$4,304,260 |
| 14 |
$8,032,106 |
$2,932,210
$582,328 |
$4,517,568 |
| 15 |
$8,433,683 |
$3,080,793
$611,442 |
$4,741,448 |
| 16 |
$8,855,353 |
$3,236,811
$642,013 |
$4,976,529 |
| 17 |
$9,297,965 |
$3,400,577
$674,102 |
$5,223,286 |
| 18 |
$9,762,934 |
$3,572,616
$707,813 |
$5,482,505 |
| 19 |
$10,251,109 |
$3,753,241
$743,205 |
$5,754,663 |
| 20 |
$10,763,622 |
$3,942,871
$780,363 |
$6,040,388 |
| 21 |
$11,301,888 |
$4,142,029
$819,387 |
$6,340,472 |
| 22 |
$11,867,039 |
$4,351,135
$860,360 |
$6,655,544 |
| 23 |
$12,460,207 |
$4,570,607
$903,365 |
$6,986,235 |
| 24 |
$13,083,373 |
$4,801,178
$948,545 |
$7,333,650 |
| 25 |
$13,737,386 |
$5,043,163
$995,960 |
$7,698,263 |
| 26 |
$14,424,510 |
$5,297,399
$1,045,777 |
$8,081,334 |
| 27 |
$15,145,594 |
$5,564,200
$1,098,056 |
$8,483,338 |
| 28 |
$15,902,902 |
$5,844,404
$1,152,960 |
$8,905,538 |
| 29 |
$16,698,132 |
$6,138,639
$1,210,615 |
$9,348,878 |
| 30 |
$17,532,982 |
$6,447,534
$1,271,141 |
$9,814,307 |
|
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