Jackpot Analysis Illinois Powerball

Jackpot Analysis for Illinois Powerball
The jackpot for the Powerball draw on Mon Jul 7, 2025, is projected to be $203 Million, with an option for a cash payout of $92.5 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 Jul 7, 2025
Draw DateMon Jul 7, 2025
Projected Jackpot$203,000,000
Cash Value$92,500,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$92,500,000
Federal Tax(24%)$22,200,000
Additional Federal Tax$11,985,330
State Tax(4.95%)$4,578,750
Net Lumpsum Payment$53,735,920
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $3,055,353 $1,090,811
$151,240
$1,813,302
2 $3,208,212 $1,147,369
$158,806
$1,902,037
3 $3,368,582 $1,206,706
$166,745
$1,995,131
4 $3,537,072 $1,269,047
$175,085
$2,092,940
5 $3,713,885 $1,334,468
$183,837
$2,195,580
6 $3,899,630 $1,403,193
$193,032
$2,303,405
7 $4,094,510 $1,475,299
$202,678
$2,416,533
8 $4,299,337 $1,551,085
$212,817
$2,535,435
9 $4,514,314 $1,630,627
$223,459
$2,660,228
10 $4,740,050 $1,714,149
$234,632
$2,791,269
11 $4,976,951 $1,801,802
$246,359
$2,928,790
12 $5,225,829 $1,893,887
$258,679
$3,073,263
13 $5,487,090 $1,990,554
$271,611
$3,224,925
14 $5,761,546 $2,092,102
$285,197
$3,384,247
15 $6,049,603 $2,198,683
$299,455
$3,551,465
16 $6,352,073 $2,310,597
$314,428
$3,727,048
17 $6,669,565 $2,428,069
$330,143
$3,911,353
18 $7,003,094 $2,551,475
$346,653
$4,104,966
19 $7,353,269 $2,681,040
$363,987
$4,308,242
20 $7,720,902 $2,817,064
$382,185
$4,521,653
21 $8,107,008 $2,959,923
$401,297
$4,745,788
22 $8,512,399 $3,109,918
$421,364
$4,981,117
23 $8,937,887 $3,267,349
$442,425
$5,228,113
24 $9,384,893 $3,432,741
$464,552
$5,487,600
25 $9,854,026 $3,606,320
$487,774
$5,759,932
26 $10,346,910 $3,788,687
$512,172
$6,046,051
27 $10,864,154 $3,980,067
$537,776
$6,346,311
28 $11,407,382 $4,181,062
$564,665
$6,661,655
29 $11,977,812 $4,392,121
$592,902
$6,992,789
30 $12,576,662 $4,613,695
$622,545
$7,340,422