The jackpot for the Powerball draw on Sat May 24, 2025, is projected to be $163 Million, with an option for a cash payout of $73.3 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 May 24, 2025 |
| Draw Date |
Sat May 24, 2025 |
| Projected Jackpot |
$163,000,000 |
| Cash Value |
$73,300,000 |
| Lumpsum Option Taxes and Payment |
| Cash Gross Payment |
$73,300,000 |
| Federal Tax(24%) |
$17,592,000 |
| Additional Federal Tax |
$9,489,330 |
| State Tax(7.25%) |
$5,314,250 |
| Net Lumpsum Payment |
$40,904,420 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,453,313 |
$868,056
$177,865 |
$1,407,392 |
| 2 |
$2,576,052 |
$913,470
$186,764 |
$1,475,818 |
| 3 |
$2,704,822 |
$961,115
$196,100 |
$1,547,607 |
| 4 |
$2,840,112 |
$1,011,172
$205,908 |
$1,623,032 |
| 5 |
$2,982,085 |
$1,063,702
$216,201 |
$1,702,182 |
| 6 |
$3,131,230 |
$1,118,885
$227,014 |
$1,785,331 |
| 7 |
$3,287,710 |
$1,176,783
$238,359 |
$1,872,568 |
| 8 |
$3,452,177 |
$1,237,636
$250,283 |
$1,964,258 |
| 9 |
$3,624,794 |
$1,301,504
$262,798 |
$2,060,492 |
| 10 |
$3,806,050 |
$1,368,569
$275,939 |
$2,161,542 |
| 11 |
$3,996,271 |
$1,438,951
$289,730 |
$2,267,590 |
| 12 |
$4,196,109 |
$1,512,891
$304,218 |
$2,379,000 |
| 13 |
$4,405,890 |
$1,590,510
$319,427 |
$2,495,953 |
| 14 |
$4,626,266 |
$1,672,049
$335,404 |
$2,618,813 |
| 15 |
$4,857,563 |
$1,757,629
$352,173 |
$2,747,761 |
| 16 |
$5,100,433 |
$1,847,491
$369,781 |
$2,883,161 |
| 17 |
$5,355,365 |
$1,941,815
$388,264 |
$3,025,286 |
| 18 |
$5,623,174 |
$2,040,905
$407,680 |
$3,174,589 |
| 19 |
$5,904,349 |
$2,144,940
$428,065 |
$3,331,344 |
| 20 |
$6,199,542 |
$2,254,161
$449,467 |
$3,495,914 |
| 21 |
$6,509,568 |
$2,368,871
$471,944 |
$3,668,753 |
| 22 |
$6,835,079 |
$2,489,310
$495,543 |
$3,850,226 |
| 23 |
$7,176,727 |
$2,615,719
$520,313 |
$4,040,695 |
| 24 |
$7,535,653 |
$2,748,522
$546,335 |
$4,240,796 |
| 25 |
$7,912,346 |
$2,887,898
$573,645 |
$4,450,803 |
| 26 |
$8,308,110 |
$3,034,331
$602,338 |
$4,671,441 |
| 27 |
$8,723,434 |
$3,188,001
$632,449 |
$4,902,984 |
| 28 |
$9,159,622 |
$3,349,391
$664,073 |
$5,146,158 |
| 29 |
$9,617,652 |
$3,518,862
$697,280 |
$5,401,510 |
| 30 |
$10,098,502 |
$3,696,776
$732,141 |
$5,669,585 |
|
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