The jackpot for the Powerball draw on Sat Oct 18, 2025, is projected to be $295 Million, with an option for a cash payout of $138.1 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 Oct 18, 2025 |
|---|
| Draw Date | Sat Oct 18, 2025 | | Projected Jackpot | $295,000,000 | | Cash Value | $138,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $138,100,000 | | Federal Tax(24%) | $33,144,000 | | Additional Federal Tax | $17,913,330 | | State Tax(4.95%) | $6,835,950 | | Net Lumpsum Payment | $80,206,720 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,440,045 |
$1,603,147
$219,782 |
$2,617,116 |
| 2 |
$4,662,180 |
$1,685,337
$230,778 |
$2,746,065 |
| 3 |
$4,895,230 |
$1,771,565
$242,314 |
$2,881,351 |
| 4 |
$5,140,080 |
$1,862,160
$254,434 |
$3,023,486 |
| 5 |
$5,397,025 |
$1,957,230
$267,153 |
$3,172,642 |
| 6 |
$5,666,950 |
$2,057,102
$280,514 |
$3,329,334 |
| 7 |
$5,950,150 |
$2,161,886
$294,532 |
$3,493,732 |
| 8 |
$6,247,805 |
$2,272,018
$309,266 |
$3,666,521 |
| 9 |
$6,560,210 |
$2,387,608
$324,730 |
$3,847,872 |
| 10 |
$6,888,250 |
$2,508,983
$340,968 |
$4,038,299 |
| 11 |
$7,232,515 |
$2,636,361
$358,009 |
$4,238,145 |
| 12 |
$7,594,185 |
$2,770,179
$375,912 |
$4,448,094 |
| 13 |
$7,973,850 |
$2,910,655
$394,706 |
$4,668,489 |
| 14 |
$8,372,690 |
$3,058,226
$414,448 |
$4,900,016 |
| 15 |
$8,791,295 |
$3,213,110
$435,169 |
$5,143,016 |
| 16 |
$9,230,845 |
$3,375,743
$456,927 |
$5,398,175 |
| 17 |
$9,692,225 |
$3,546,454
$479,765 |
$5,666,006 |
| 18 |
$10,176,910 |
$3,725,787
$503,757 |
$5,947,366 |
| 19 |
$10,685,785 |
$3,914,071
$528,946 |
$6,242,768 |
| 20 |
$11,220,030 |
$4,111,741
$555,391 |
$6,552,898 |
| 21 |
$11,781,120 |
$4,319,345
$583,165 |
$6,878,610 |
| 22 |
$12,370,235 |
$4,537,317
$612,327 |
$7,220,591 |
| 23 |
$12,988,555 |
$4,766,096
$642,933 |
$7,579,526 |
| 24 |
$13,638,145 |
$5,006,444
$675,088 |
$7,956,613 |
| 25 |
$14,319,890 |
$5,258,690
$708,835 |
$8,352,365 |
| 26 |
$15,036,150 |
$5,523,706
$744,289 |
$8,768,155 |
| 27 |
$15,787,810 |
$5,801,820
$781,497 |
$9,204,493 |
| 28 |
$16,577,230 |
$6,093,905
$820,573 |
$9,662,752 |
| 29 |
$17,406,180 |
$6,400,617
$861,606 |
$10,143,957 |
| 30 |
$18,276,430 |
$6,722,609
$904,683 |
$10,649,138 |
|
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