The jackpot for the Powerball draw on Sat Aug 30, 2025, is projected to be $950 Million, with an option for a cash payout of $428.9 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 Aug 30, 2025 |
|---|
| Draw Date | Sat Aug 30, 2025 | | Projected Jackpot | $950,000,000 | | Cash Value | $428,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $428,900,000 | | Federal Tax(24%) | $102,936,000 | | Additional Federal Tax | $55,717,330 | | State Tax(7.25%) | $31,095,250 | | Net Lumpsum Payment | $239,151,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,298,450 |
$5,250,757
$1,036,638 |
$8,011,055 |
| 2 |
$15,013,800 |
$5,515,436
$1,088,501 |
$8,409,863 |
| 3 |
$15,764,300 |
$5,793,121
$1,142,912 |
$8,828,267 |
| 4 |
$16,552,800 |
$6,084,866
$1,200,078 |
$9,267,856 |
| 5 |
$17,380,250 |
$6,391,023
$1,260,068 |
$9,729,159 |
| 6 |
$18,249,500 |
$6,712,645
$1,323,089 |
$10,213,766 |
| 7 |
$19,161,500 |
$7,050,085
$1,389,209 |
$10,722,206 |
| 8 |
$20,120,050 |
$7,404,749
$1,458,704 |
$11,256,597 |
| 9 |
$21,126,100 |
$7,776,987
$1,531,642 |
$11,817,471 |
| 10 |
$22,182,500 |
$8,167,855
$1,608,231 |
$12,406,414 |
| 11 |
$23,291,150 |
$8,578,056
$1,688,608 |
$13,024,486 |
| 12 |
$24,455,850 |
$9,008,995
$1,773,049 |
$13,673,806 |
| 13 |
$25,678,500 |
$9,461,375
$1,861,691 |
$14,355,434 |
| 14 |
$26,962,900 |
$9,936,603
$1,954,810 |
$15,071,487 |
| 15 |
$28,310,950 |
$10,435,382
$2,052,544 |
$15,823,024 |
| 16 |
$29,726,450 |
$10,959,117
$2,155,168 |
$16,612,165 |
| 17 |
$31,212,250 |
$11,508,863
$2,262,888 |
$17,440,499 |
| 18 |
$32,773,100 |
$12,086,377
$2,376,050 |
$18,310,673 |
| 19 |
$34,411,850 |
$12,692,715
$2,494,859 |
$19,224,276 |
| 20 |
$36,132,300 |
$13,329,281
$2,619,592 |
$20,183,427 |
| 21 |
$37,939,200 |
$13,997,834
$2,750,592 |
$21,190,774 |
| 22 |
$39,836,350 |
$14,699,780
$2,888,135 |
$22,248,435 |
| 23 |
$41,827,550 |
$15,436,524
$3,032,497 |
$23,358,529 |
| 24 |
$43,919,450 |
$16,210,527
$3,184,160 |
$24,524,763 |
| 25 |
$46,114,900 |
$17,022,843
$3,343,330 |
$25,748,727 |
| 26 |
$48,421,500 |
$17,876,285
$3,510,559 |
$27,034,656 |
| 27 |
$50,842,100 |
$18,771,907
$3,686,052 |
$28,384,141 |
| 28 |
$53,384,300 |
$19,712,521
$3,870,362 |
$29,801,417 |
| 29 |
$56,053,800 |
$20,700,236
$4,063,901 |
$31,289,663 |
| 30 |
$58,856,300 |
$21,737,161
$4,267,082 |
$32,852,057 |
|
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