The jackpot for the Powerball draw on Sat Jul 19, 2025, is projected to be $288 Million, with an option for a cash payout of $130.6 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 Sat Jul 19, 2025 |
|---|
| Draw Date | Sat Jul 19, 2025 | | Projected Jackpot | $288,000,000 | | Cash Value | $130,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $130,600,000 | | Federal Tax(24%) | $31,344,000 | | Additional Federal Tax | $16,938,330 | | State Tax(4.95%) | $6,464,700 | | Net Lumpsum Payment | $75,852,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,334,688 |
$1,564,165
$214,567 |
$2,555,956 |
| 2 |
$4,551,552 |
$1,644,405
$225,302 |
$2,681,845 |
| 3 |
$4,779,072 |
$1,728,587
$236,564 |
$2,813,921 |
| 4 |
$5,018,112 |
$1,817,032
$248,397 |
$2,952,683 |
| 5 |
$5,268,960 |
$1,909,846
$260,814 |
$3,098,300 |
| 6 |
$5,532,480 |
$2,007,348
$273,858 |
$3,251,274 |
| 7 |
$5,808,960 |
$2,109,646
$287,544 |
$3,411,770 |
| 8 |
$6,099,552 |
$2,217,165
$301,928 |
$3,580,459 |
| 9 |
$6,404,544 |
$2,330,012
$317,025 |
$3,757,507 |
| 10 |
$6,724,800 |
$2,448,506
$332,878 |
$3,943,416 |
| 11 |
$7,060,896 |
$2,572,862
$349,514 |
$4,138,520 |
| 12 |
$7,413,984 |
$2,703,504
$366,992 |
$4,343,488 |
| 13 |
$7,784,640 |
$2,840,647
$385,340 |
$4,558,653 |
| 14 |
$8,174,016 |
$2,984,716
$404,614 |
$4,784,686 |
| 15 |
$8,582,688 |
$3,135,925
$424,843 |
$5,021,920 |
| 16 |
$9,011,808 |
$3,294,699
$446,084 |
$5,271,025 |
| 17 |
$9,462,240 |
$3,461,359
$468,381 |
$5,532,500 |
| 18 |
$9,935,424 |
$3,636,437
$491,803 |
$5,807,184 |
| 19 |
$10,432,224 |
$3,820,253
$516,395 |
$6,095,576 |
| 20 |
$10,953,792 |
$4,013,233
$542,213 |
$6,398,346 |
| 21 |
$11,501,568 |
$4,215,911
$569,328 |
$6,716,329 |
| 22 |
$12,076,704 |
$4,428,711
$597,797 |
$7,050,196 |
| 23 |
$12,680,352 |
$4,652,061
$627,677 |
$7,400,614 |
| 24 |
$13,314,528 |
$4,886,706
$659,069 |
$7,768,753 |
| 25 |
$13,980,096 |
$5,132,966
$692,015 |
$8,155,115 |
| 26 |
$14,679,360 |
$5,391,694
$726,628 |
$8,561,038 |
| 27 |
$15,413,184 |
$5,663,208
$762,953 |
$8,987,023 |
| 28 |
$16,183,872 |
$5,948,363
$801,102 |
$9,434,407 |
| 29 |
$16,993,152 |
$6,247,797
$841,161 |
$9,904,194 |
| 30 |
$17,842,752 |
$6,562,149
$883,216 |
$10,397,387 |
|
|
