The jackpot for the Powerball draw on Mon Jun 15, 2026, is projected to be $269 Million, with an option for a cash payout of $120.5 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 Jun 15, 2026 |
|---|
| Draw Date | Mon Jun 15, 2026 | | Projected Jackpot | $269,000,000 | | Cash Value | $120,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $120,500,000 | | Federal Tax(24%) | $28,920,000 | | Additional Federal Tax | $15,625,330 | | State Tax(4.95%) | $5,964,750 | | Net Lumpsum Payment | $69,989,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,048,719 |
$1,458,356
$200,412 |
$2,389,951 |
| 2 |
$4,251,276 |
$1,533,303
$210,438 |
$2,507,535 |
| 3 |
$4,463,786 |
$1,611,931
$220,957 |
$2,630,898 |
| 4 |
$4,687,056 |
$1,694,541
$232,009 |
$2,760,506 |
| 5 |
$4,921,355 |
$1,781,232
$243,607 |
$2,896,516 |
| 6 |
$5,167,490 |
$1,872,302
$255,791 |
$3,039,397 |
| 7 |
$5,425,730 |
$1,967,850
$268,574 |
$3,189,306 |
| 8 |
$5,697,151 |
$2,068,276
$282,009 |
$3,346,866 |
| 9 |
$5,982,022 |
$2,173,679
$296,110 |
$3,512,233 |
| 10 |
$6,281,150 |
$2,284,356
$310,917 |
$3,685,877 |
| 11 |
$6,595,073 |
$2,400,507
$326,456 |
$3,868,110 |
| 12 |
$6,924,867 |
$2,522,531
$342,781 |
$4,059,555 |
| 13 |
$7,271,070 |
$2,650,626
$359,918 |
$4,260,526 |
| 14 |
$7,634,758 |
$2,785,191
$377,921 |
$4,471,646 |
| 15 |
$8,016,469 |
$2,926,424
$396,815 |
$4,693,230 |
| 16 |
$8,417,279 |
$3,074,724
$416,655 |
$4,925,900 |
| 17 |
$8,837,995 |
$3,230,389
$437,481 |
$5,170,125 |
| 18 |
$9,279,962 |
$3,393,916
$459,358 |
$5,426,688 |
| 19 |
$9,743,987 |
$3,565,606
$482,327 |
$5,696,054 |
| 20 |
$10,231,146 |
$3,745,854
$506,442 |
$5,978,850 |
| 21 |
$10,742,784 |
$3,935,160
$531,768 |
$6,275,856 |
| 22 |
$11,279,977 |
$4,133,922
$558,359 |
$6,587,696 |
| 23 |
$11,843,801 |
$4,342,537
$586,268 |
$6,914,996 |
| 24 |
$12,436,139 |
$4,561,702
$615,589 |
$7,258,848 |
| 25 |
$13,057,798 |
$4,791,716
$646,361 |
$7,619,721 |
| 26 |
$13,710,930 |
$5,033,374
$678,691 |
$7,998,865 |
| 27 |
$14,396,342 |
$5,286,977
$712,619 |
$8,396,746 |
| 28 |
$15,116,186 |
$5,553,319
$748,251 |
$8,814,616 |
| 29 |
$15,872,076 |
$5,832,999
$785,668 |
$9,253,409 |
| 30 |
$16,665,626 |
$6,126,612
$824,948 |
$9,714,066 |
|
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