Powerball $716 Million After Taxes in Minnesota
The Powerball jackpot for Wednesday, October 28, 2026, 10:59 pm ET, is $716 million, or $307.2 million cash. A single winner in Minnesota who takes the cash keeps about $171.3 million after federal tax and Minnesota's 7.25%.
Did anyone win?
Monday, October 26, 2026: ----, Powerball
Nobody matched all five numbers and the Powerball, so the $687 million jackpot rolls to $716 million (cash value $307 million) for Wednesday, October 28, 2026 at 10:59 pm ET.
If nobody wins on Wednesday, past runs put the October 31, 2026 jackpot near $755 million, and a Minnesota winner would keep about $180.7 million. A projection, not the operator's figure.
Lump sum vs annuity in Minnesota
One winner, single filer, 2026 federal brackets. Minnesota withholds 7.25% (Fixed by statute; the 9.85% top rate is settled at filing).
| Lump sum | Annuity, 30 years | |
|---|---|---|
| Before tax | $307.2 million | $716 million |
| Federal withheld, 24% | −$73.7 million | −$171.8 million |
| Minnesota withheld, 7.25% | −$22.3 million | −$51.9 million |
| Paid to you | $211.2 million | $492.3 million |
| Federal still due at filing | −$39.9 million | −$91.6 million |
| Kept after tax | $171.3 million | $400.7 million |
Federal: 24% withheld, up to 37% owed
The lottery withholds 24% for the IRS before it pays. A jackpot puts almost all of the prize in the 37% bracket, so the federal bill on the cash comes to $113,614,000, 37.0% of it, and the $39,886,000 the withholding missed is due with the return. Set it aside: the cheque is not what you keep.
Minnesota tax on a Powerball jackpot
Minnesota withholds 7.25% (Fixed by statute; the 9.85% top rate is settled at filing): $22.3 million of the cash value. What you finally owe Minnesota is settled on its return, at its own income-tax rates. That ranks Minnesota 40 of 46 lotteries by what a winner keeps: $22.3 million less than in a state with no lottery tax, $11.2 million more than in New York.
The annuity, year by year
Thirty payments, each 5% bigger than the last, taxed in the year it is paid.
| Payment | Before tax | After tax in Minnesota |
|---|---|---|
| Year 1 | $10.8 million | $6.1 million |
| Year 10 | $16.7 million | $9.4 million |
| Year 20 | $27.2 million | $15.2 million |
| Year 30 | $44.4 million | $24.8 million |
Every state side by side · Minnesota Powerball: numbers, add-ons, ticket value · Tax calculator for any prize
Powerball after taxes in Minnesota: questions
- How much is the Powerball jackpot after taxes in Minnesota?
- For Wednesday, October 28, 2026, the advertised jackpot is $716 million and the cash value $307.2 million. A single winner in Minnesota who takes the cash keeps about $171.3 million once the federal bill is paid at filing and Minnesota's 7.25%. The annuity pays about $6.1 million after tax in the first year and $400.7 million over 30 years.
- How much tax is taken out of Powerball winnings in Minnesota?
- At the claim, 24% federal and 7.25% for Minnesota: on the $307.2 million cash value that is $73.7 million and $22.3 million, leaving a cheque of $211.2 million. A jackpot is taxed at up to 37%, so about $39.9 million more is due with the federal return.
- Lump sum or annuity: which keeps more in Minnesota?
- Over 30 years the annuity pays more in total after tax, $400.7 million against $171.3 million for the cash, because the advertised jackpot is the sum of payments that rise 5% a year. The cash is all paid now and could be invested; almost every jackpot winner takes it.
- Did anyone win the Powerball jackpot on October 26, 2026?
- No. Nobody matched all five numbers and the Powerball, so the $687 million jackpot rolls to $716 million (cash value $307 million) for Wednesday, October 28, 2026 at 10:59 pm ET. The numbers and every prize tier.
- Do I pay Minnesota tax if I live in another state?
- Minnesota withholds its 7.25% from a prize won on a ticket bought here, wherever you live. Your home state may tax the prize too, usually with a credit for tax paid to the state where the ticket was sold. The calculator takes any rate.