The jackpot for the Powerball draw on Sat Mar 1, 2025, is projected to be $272 Million, with an option for a cash payout of $124.4 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 Mar 1, 2025 |
|---|
| Draw Date | Sat Mar 1, 2025 | | Projected Jackpot | $272,000,000 | | Cash Value | $124,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,400,000 | | Federal Tax(24%) | $29,856,000 | | Additional Federal Tax | $16,132,330 | | State Tax(7.25%) | $9,019,000 | | Net Lumpsum Payment | $69,392,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$296,806 |
$2,322,003 |
| 2 |
$4,298,688 |
$1,550,845
$311,655 |
$2,436,188 |
| 3 |
$4,513,568 |
$1,630,351
$327,234 |
$2,555,983 |
| 4 |
$4,739,328 |
$1,713,882
$343,601 |
$2,681,845 |
| 5 |
$4,976,240 |
$1,801,539
$360,777 |
$2,813,924 |
| 6 |
$5,225,120 |
$1,893,625
$378,821 |
$2,952,674 |
| 7 |
$5,486,240 |
$1,990,239
$397,752 |
$3,098,249 |
| 8 |
$5,760,688 |
$2,091,785
$417,650 |
$3,251,253 |
| 9 |
$6,048,736 |
$2,198,363
$438,533 |
$3,411,840 |
| 10 |
$6,351,200 |
$2,310,274
$460,462 |
$3,580,464 |
| 11 |
$6,668,624 |
$2,427,721
$483,475 |
$3,757,428 |
| 12 |
$7,002,096 |
$2,551,106
$507,652 |
$3,943,338 |
| 13 |
$7,352,160 |
$2,680,630
$533,032 |
$4,138,498 |
| 14 |
$7,719,904 |
$2,816,695
$559,693 |
$4,343,516 |
| 15 |
$8,105,872 |
$2,959,503
$587,676 |
$4,558,693 |
| 16 |
$8,511,152 |
$3,109,457
$617,059 |
$4,784,636 |
| 17 |
$8,936,560 |
$3,266,858
$647,901 |
$5,021,801 |
| 18 |
$9,383,456 |
$3,432,209
$680,301 |
$5,270,946 |
| 19 |
$9,852,656 |
$3,605,813
$714,318 |
$5,532,525 |
| 20 |
$10,345,248 |
$3,788,072
$750,030 |
$5,807,146 |
| 21 |
$10,862,592 |
$3,979,489
$787,538 |
$6,095,565 |
| 22 |
$11,405,776 |
$4,180,468
$826,919 |
$6,398,389 |
| 23 |
$11,975,888 |
$4,391,409
$868,252 |
$6,716,227 |
| 24 |
$12,574,832 |
$4,613,018
$911,675 |
$7,050,139 |
| 25 |
$13,203,424 |
$4,845,597
$957,248 |
$7,400,579 |
| 26 |
$13,863,840 |
$5,089,951
$1,005,128 |
$7,768,761 |
| 27 |
$14,556,896 |
$5,346,382
$1,055,375 |
$8,155,139 |
| 28 |
$15,284,768 |
$5,615,695
$1,108,146 |
$8,560,927 |
| 29 |
$16,049,088 |
$5,898,493
$1,163,559 |
$8,987,036 |
| 30 |
$16,851,488 |
$6,195,381
$1,221,733 |
$9,434,374 |
|
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