Jackpot Analysis Illinois Powerball

Jackpot Analysis for Illinois Powerball
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 DateWed 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