The jackpot for the Powerball draw on Mon Jun 16, 2025, is projected to be $90 Million, with an option for a cash payout of $40.7 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 Mon Jun 16, 2025 |
| Draw Date |
Mon Jun 16, 2025 |
| Projected Jackpot |
$90,000,000 |
| Cash Value |
$40,700,000 |
| Lumpsum Option Taxes and Payment |
| Cash Gross Payment |
$40,700,000 |
| Federal Tax(24%) |
$9,768,000 |
| Additional Federal Tax |
$5,251,330 |
| State Tax(7.25%) |
$2,950,750 |
| Net Lumpsum Payment |
$22,729,920 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,354,590 |
$461,529
$98,208 |
$794,853 |
| 2 |
$1,422,360 |
$486,604
$103,121 |
$832,635 |
| 3 |
$1,493,460 |
$512,911
$108,276 |
$872,273 |
| 4 |
$1,568,160 |
$540,550
$113,692 |
$913,918 |
| 5 |
$1,646,550 |
$569,554
$119,375 |
$957,621 |
| 6 |
$1,728,900 |
$600,023
$125,345 |
$1,003,532 |
| 7 |
$1,815,300 |
$631,991
$131,609 |
$1,051,700 |
| 8 |
$1,906,110 |
$665,591
$138,193 |
$1,102,326 |
| 9 |
$2,001,420 |
$700,856
$145,103 |
$1,155,461 |
| 10 |
$2,101,500 |
$737,885
$152,359 |
$1,211,256 |
| 11 |
$2,206,530 |
$776,746
$159,973 |
$1,269,811 |
| 12 |
$2,316,870 |
$817,572
$167,973 |
$1,331,325 |
| 13 |
$2,432,700 |
$860,429
$176,371 |
$1,395,900 |
| 14 |
$2,554,380 |
$905,451
$185,193 |
$1,463,736 |
| 15 |
$2,682,090 |
$952,704
$194,452 |
$1,534,934 |
| 16 |
$2,816,190 |
$1,002,321
$204,174 |
$1,609,695 |
| 17 |
$2,956,950 |
$1,054,402
$214,379 |
$1,688,169 |
| 18 |
$3,104,820 |
$1,109,114
$225,099 |
$1,770,607 |
| 19 |
$3,260,070 |
$1,166,556
$236,355 |
$1,857,159 |
| 20 |
$3,423,060 |
$1,226,863
$248,172 |
$1,948,025 |
| 21 |
$3,594,240 |
$1,290,199
$260,582 |
$2,043,459 |
| 22 |
$3,773,970 |
$1,356,699
$273,613 |
$2,143,658 |
| 23 |
$3,962,610 |
$1,426,496
$287,289 |
$2,248,825 |
| 24 |
$4,160,790 |
$1,499,823
$301,657 |
$2,359,310 |
| 25 |
$4,368,780 |
$1,576,779
$316,737 |
$2,475,264 |
| 26 |
$4,587,300 |
$1,657,631
$332,579 |
$2,597,090 |
| 27 |
$4,816,620 |
$1,742,480
$349,205 |
$2,724,935 |
| 28 |
$5,057,460 |
$1,831,591
$366,666 |
$2,859,203 |
| 29 |
$5,310,360 |
$1,925,164
$385,001 |
$3,000,195 |
| 30 |
$5,575,860 |
$2,023,399
$404,250 |
$3,148,211 |
|
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