The jackpot for the Powerball draw on Mon Sep 15, 2025, is projected to be $64 Million, with an option for a cash payout of $30 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 Illinois residents, the state will deduct 4.95% from your lottery earnings.
Illinois Powerball Jackpot/Cash Option for Mon Sep 15, 2025 |
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Draw Date | Mon Sep 15, 2025 | Projected Jackpot | $64,000,000 | Cash Value | $30,000,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $30,000,000 | Federal Tax(24%) | $7,200,000 | Additional Federal Tax | $3,860,330 | State Tax(4.95%) | $1,485,000 | Net Lumpsum Payment | $17,454,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$963,264 |
$316,738 $47,682 |
$598,844 |
2 |
$1,011,456 |
$334,569 $50,067 |
$626,820 |
3 |
$1,062,016 |
$353,276 $52,570 |
$656,170 |
4 |
$1,115,136 |
$372,931 $55,199 |
$687,006 |
5 |
$1,170,880 |
$393,556 $57,959 |
$719,365 |
6 |
$1,229,440 |
$415,223 $60,857 |
$753,360 |
7 |
$1,290,880 |
$437,956 $63,899 |
$789,025 |
8 |
$1,355,456 |
$461,849 $67,095 |
$826,512 |
9 |
$1,423,232 |
$486,926 $70,450 |
$865,856 |
10 |
$1,494,400 |
$513,258 $73,973 |
$907,169 |
11 |
$1,569,088 |
$540,893 $77,670 |
$950,525 |
12 |
$1,647,552 |
$569,925 $81,554 |
$996,073 |
13 |
$1,729,920 |
$600,401 $85,631 |
$1,043,888 |
14 |
$1,816,448 |
$632,416 $89,914 |
$1,094,118 |
15 |
$1,907,264 |
$666,018 $94,410 |
$1,146,836 |
16 |
$2,002,624 |
$701,301 $99,130 |
$1,202,193 |
17 |
$2,102,720 |
$738,337 $104,085 |
$1,260,298 |
18 |
$2,207,872 |
$777,243 $109,290 |
$1,321,339 |
19 |
$2,318,272 |
$818,091 $114,754 |
$1,385,427 |
20 |
$2,434,176 |
$860,976 $120,492 |
$1,452,708 |
21 |
$2,555,904 |
$906,015 $126,517 |
$1,523,372 |
22 |
$2,683,712 |
$953,304 $132,844 |
$1,597,564 |
23 |
$2,817,856 |
$1,002,937 $139,484 |
$1,675,435 |
24 |
$2,958,784 |
$1,055,080 $146,460 |
$1,757,244 |
25 |
$3,106,688 |
$1,109,805 $153,781 |
$1,843,102 |
26 |
$3,262,080 |
$1,167,300 $161,473 |
$1,933,307 |
27 |
$3,425,152 |
$1,227,637 $169,545 |
$2,027,970 |
28 |
$3,596,416 |
$1,291,004 $178,023 |
$2,127,389 |
29 |
$3,776,256 |
$1,357,545 $186,925 |
$2,231,786 |
30 |
$3,965,056 |
$1,427,401 $196,270 |
$2,341,385 |
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