Jackpot Analysis Illinois Powerball

Jackpot Analysis for Illinois Powerball
The jackpot for the Powerball draw on Mon Sep 15, 2025, is projected to be $64 Million, with an option for a cash payout of $30 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 Sep 15, 2025
Draw DateMon Sep 15, 2025
Projected Jackpot$64,000,000
Cash Value$30,000,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$30,000,000
Federal Tax(24%)$7,200,000
Additional Federal Tax$3,860,330
State Tax(4.95%)$1,485,000
Net Lumpsum Payment$17,454,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $963,264 $316,738
$47,682
$598,844
2 $1,011,456 $334,569
$50,067
$626,820
3 $1,062,016 $353,276
$52,570
$656,170
4 $1,115,136 $372,931
$55,199
$687,006
5 $1,170,880 $393,556
$57,959
$719,365
6 $1,229,440 $415,223
$60,857
$753,360
7 $1,290,880 $437,956
$63,899
$789,025
8 $1,355,456 $461,849
$67,095
$826,512
9 $1,423,232 $486,926
$70,450
$865,856
10 $1,494,400 $513,258
$73,973
$907,169
11 $1,569,088 $540,893
$77,670
$950,525
12 $1,647,552 $569,925
$81,554
$996,073
13 $1,729,920 $600,401
$85,631
$1,043,888
14 $1,816,448 $632,416
$89,914
$1,094,118
15 $1,907,264 $666,018
$94,410
$1,146,836
16 $2,002,624 $701,301
$99,130
$1,202,193
17 $2,102,720 $738,337
$104,085
$1,260,298
18 $2,207,872 $777,243
$109,290
$1,321,339
19 $2,318,272 $818,091
$114,754
$1,385,427
20 $2,434,176 $860,976
$120,492
$1,452,708
21 $2,555,904 $906,015
$126,517
$1,523,372
22 $2,683,712 $953,304
$132,844
$1,597,564
23 $2,817,856 $1,002,937
$139,484
$1,675,435
24 $2,958,784 $1,055,080
$146,460
$1,757,244
25 $3,106,688 $1,109,805
$153,781
$1,843,102
26 $3,262,080 $1,167,300
$161,473
$1,933,307
27 $3,425,152 $1,227,637
$169,545
$2,027,970
28 $3,596,416 $1,291,004
$178,023
$2,127,389
29 $3,776,256 $1,357,545
$186,925
$2,231,786
30 $3,965,056 $1,427,401
$196,270
$2,341,385