The jackpot for the Powerball draw on Sat Feb 7, 2026, is projected to be $102 Million, with an option for a cash payout of $46.1 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 Feb 7, 2026 |
|---|
| Draw Date | Sat Feb 7, 2026 | | Projected Jackpot | $102,000,000 | | Cash Value | $46,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $46,100,000 | | Federal Tax(24%) | $11,064,000 | | Additional Federal Tax | $5,953,330 | | State Tax(4.95%) | $2,281,950 | | Net Lumpsum Payment | $26,800,720 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,535,202 |
$528,355
$75,992 |
$930,855 |
| 2 |
$1,612,008 |
$556,773
$79,794 |
$975,441 |
| 3 |
$1,692,588 |
$586,588
$83,783 |
$1,022,217 |
| 4 |
$1,777,248 |
$617,912
$87,974 |
$1,071,362 |
| 5 |
$1,866,090 |
$650,784
$92,371 |
$1,122,935 |
| 6 |
$1,959,420 |
$685,316
$96,991 |
$1,177,113 |
| 7 |
$2,057,340 |
$721,546
$101,838 |
$1,233,956 |
| 8 |
$2,160,258 |
$759,626
$106,933 |
$1,293,699 |
| 9 |
$2,268,276 |
$799,593
$112,280 |
$1,356,403 |
| 10 |
$2,381,700 |
$841,559
$117,894 |
$1,422,247 |
| 11 |
$2,500,734 |
$885,602
$123,786 |
$1,491,346 |
| 12 |
$2,625,786 |
$931,871
$129,976 |
$1,563,939 |
| 13 |
$2,757,060 |
$980,443
$136,474 |
$1,640,143 |
| 14 |
$2,894,964 |
$1,031,467
$143,301 |
$1,720,196 |
| 15 |
$3,039,702 |
$1,085,020
$150,465 |
$1,804,217 |
| 16 |
$3,191,682 |
$1,141,253
$157,988 |
$1,892,441 |
| 17 |
$3,351,210 |
$1,200,278
$165,885 |
$1,985,047 |
| 18 |
$3,518,796 |
$1,262,285
$174,180 |
$2,082,331 |
| 19 |
$3,694,746 |
$1,327,386
$182,890 |
$2,184,470 |
| 20 |
$3,879,468 |
$1,395,734
$192,034 |
$2,291,700 |
| 21 |
$4,073,472 |
$1,467,515
$201,637 |
$2,404,320 |
| 22 |
$4,277,166 |
$1,542,882
$211,720 |
$2,522,564 |
| 23 |
$4,490,958 |
$1,621,985
$222,302 |
$2,646,671 |
| 24 |
$4,715,562 |
$1,705,088
$233,420 |
$2,777,054 |
| 25 |
$4,951,284 |
$1,792,305
$245,089 |
$2,913,890 |
| 26 |
$5,198,940 |
$1,883,938
$257,348 |
$3,057,654 |
| 27 |
$5,458,836 |
$1,980,100
$270,212 |
$3,208,524 |
| 28 |
$5,731,788 |
$2,081,092
$283,724 |
$3,366,972 |
| 29 |
$6,018,408 |
$2,187,141
$297,911 |
$3,533,356 |
| 30 |
$6,319,308 |
$2,298,474
$312,806 |
$3,708,028 |
|
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