The jackpot for the Powerball draw on Wed Jul 9, 2025, is projected to be $216 Million, with an option for a cash payout of $98.4 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 Illinois residents, the state will deduct 4.95% from your lottery earnings.
| Illinois Powerball Jackpot/Cash Option for Wed Jul 9, 2025 |
|---|
| Draw Date | Wed Jul 9, 2025 | | Projected Jackpot | $216,000,000 | | Cash Value | $98,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $98,400,000 | | Federal Tax(24%) | $23,616,000 | | Additional Federal Tax | $12,752,330 | | State Tax(4.95%) | $4,870,800 | | Net Lumpsum Payment | $57,160,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,251,016 |
$1,163,206
$160,925 |
$1,926,885 |
| 2 |
$3,413,664 |
$1,223,386
$168,976 |
$2,021,302 |
| 3 |
$3,584,304 |
$1,286,523
$177,423 |
$2,120,358 |
| 4 |
$3,763,584 |
$1,352,856
$186,297 |
$2,224,431 |
| 5 |
$3,951,720 |
$1,422,467
$195,610 |
$2,333,643 |
| 6 |
$4,149,360 |
$1,495,594
$205,393 |
$2,448,373 |
| 7 |
$4,356,720 |
$1,572,317
$215,658 |
$2,568,745 |
| 8 |
$4,574,664 |
$1,652,956
$226,446 |
$2,695,262 |
| 9 |
$4,803,408 |
$1,737,591
$237,769 |
$2,828,048 |
| 10 |
$5,043,600 |
$1,826,462
$249,658 |
$2,967,480 |
| 11 |
$5,295,672 |
$1,919,729
$262,136 |
$3,113,807 |
| 12 |
$5,560,488 |
$2,017,711
$275,244 |
$3,267,533 |
| 13 |
$5,838,480 |
$2,120,568
$289,005 |
$3,428,907 |
| 14 |
$6,130,512 |
$2,228,620
$303,460 |
$3,598,432 |
| 15 |
$6,437,016 |
$2,342,026
$318,632 |
$3,776,358 |
| 16 |
$6,758,856 |
$2,461,107
$334,563 |
$3,963,186 |
| 17 |
$7,096,680 |
$2,586,102
$351,286 |
$4,159,292 |
| 18 |
$7,451,568 |
$2,717,411
$368,853 |
$4,365,304 |
| 19 |
$7,824,168 |
$2,855,273
$387,296 |
$4,581,599 |
| 20 |
$8,215,344 |
$3,000,008
$406,660 |
$4,808,676 |
| 21 |
$8,626,176 |
$3,152,016
$426,996 |
$5,047,164 |
| 22 |
$9,057,528 |
$3,311,616
$448,348 |
$5,297,564 |
| 23 |
$9,510,264 |
$3,479,128
$470,758 |
$5,560,378 |
| 24 |
$9,985,896 |
$3,655,112
$494,302 |
$5,836,482 |
| 25 |
$10,485,072 |
$3,839,807
$519,011 |
$6,126,254 |
| 26 |
$11,009,520 |
$4,033,853
$544,971 |
$6,430,696 |
| 27 |
$11,559,888 |
$4,237,489
$572,214 |
$6,750,185 |
| 28 |
$12,137,904 |
$4,451,355
$600,826 |
$7,085,723 |
| 29 |
$12,744,864 |
$4,675,930
$630,871 |
$7,438,063 |
| 30 |
$13,382,064 |
$4,911,694
$662,412 |
$7,807,958 |
|
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