The jackpot for the Powerball draw on Wed Sep 3, 2025, is projected to be $1.30 Billion, with an option for a cash payout of $589 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 Sep 3, 2025 |
|---|
| Draw Date | Wed Sep 3, 2025 | | Projected Jackpot | $1,300,000,000 | | Cash Value | $589,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $589,000,000 | | Federal Tax(24%) | $141,360,000 | | Additional Federal Tax | $76,530,330 | | State Tax(4.95%) | $29,155,500 | | Net Lumpsum Payment | $341,954,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$19,566,300 |
$7,199,861
$968,532 |
$11,397,907 |
| 2 |
$20,545,200 |
$7,562,054
$1,016,987 |
$11,966,159 |
| 3 |
$21,572,200 |
$7,942,044
$1,067,824 |
$12,562,332 |
| 4 |
$22,651,200 |
$8,341,274
$1,121,234 |
$13,188,692 |
| 5 |
$23,783,500 |
$8,760,225
$1,177,283 |
$13,845,992 |
| 6 |
$24,973,000 |
$9,200,340
$1,236,164 |
$14,536,496 |
| 7 |
$26,221,000 |
$9,662,100
$1,297,940 |
$15,260,960 |
| 8 |
$27,532,700 |
$10,147,429
$1,362,869 |
$16,022,402 |
| 9 |
$28,909,400 |
$10,656,808
$1,431,015 |
$16,821,577 |
| 10 |
$30,355,000 |
$11,191,680
$1,502,573 |
$17,660,747 |
| 11 |
$31,872,100 |
$11,753,007
$1,577,669 |
$18,541,424 |
| 12 |
$33,465,900 |
$12,342,713
$1,656,562 |
$19,466,625 |
| 13 |
$35,139,000 |
$12,961,760
$1,739,381 |
$20,437,859 |
| 14 |
$36,896,600 |
$13,612,072
$1,826,382 |
$21,458,146 |
| 15 |
$38,741,300 |
$14,294,611
$1,917,694 |
$22,528,995 |
| 16 |
$40,678,300 |
$15,011,301
$2,013,576 |
$23,653,423 |
| 17 |
$42,711,500 |
$15,763,585
$2,114,219 |
$24,833,696 |
| 18 |
$44,847,400 |
$16,553,868
$2,219,946 |
$26,073,586 |
| 19 |
$47,089,900 |
$17,383,593
$2,330,950 |
$27,375,357 |
| 20 |
$49,444,200 |
$18,254,684
$2,447,488 |
$28,742,028 |
| 21 |
$51,916,800 |
$19,169,546
$2,569,882 |
$30,177,372 |
| 22 |
$54,512,900 |
$20,130,103
$2,698,389 |
$31,684,408 |
| 23 |
$57,237,700 |
$21,138,279
$2,833,266 |
$33,266,155 |
| 24 |
$60,100,300 |
$22,197,441
$2,974,965 |
$34,927,894 |
| 25 |
$63,104,600 |
$23,309,032
$3,123,678 |
$36,671,890 |
| 26 |
$66,261,000 |
$24,476,900
$3,279,920 |
$38,504,180 |
| 27 |
$69,573,400 |
$25,702,488
$3,443,883 |
$40,427,029 |
| 28 |
$73,052,200 |
$26,989,644
$3,616,084 |
$42,446,472 |
| 29 |
$76,705,200 |
$28,341,254
$3,796,907 |
$44,567,039 |
| 30 |
$80,540,200 |
$29,760,204
$3,986,740 |
$46,793,256 |
|
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