Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 9, 2026 is estimated to be $46 Million, with a cash option of 21.2 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Illinois, your state will take 4.95% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Illinois Powerball Jackpot/Cash Option for Mon Mar 9, 2026

Draw Date	Jackpot	Cash Option
Mon Mar 9, 2026	$46,000,000	$21,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$21,200,000
Federal Tax(24%)	$5,088,000
Additional Federal Tax	$2,716,330
State Tax(4.95%)	$1,049,400
Net Lumpsum Payment	$12,346,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$692,346	-$216,498 -$34,271	$441,577
2	$726,984	-$229,314 -$35,986	$461,684
3	$763,324	-$242,760 -$37,785	$482,779
4	$801,504	-$256,887 -$39,674	$504,943
5	$841,570	-$271,711 -$41,658	$528,201
6	$883,660	-$287,285 -$43,741	$552,634
7	$927,820	-$303,624 -$45,927	$578,269
8	$974,234	-$320,797 -$48,225	$605,212
9	$1,022,948	-$338,821 -$50,636	$633,491
10	$1,074,100	-$357,747 -$53,168	$663,185
11	$1,127,782	-$377,610 -$55,825	$694,347
12	$1,184,178	-$398,476 -$58,617	$727,085
13	$1,243,380	-$420,381 -$61,547	$761,452
14	$1,305,572	-$443,392 -$64,626	$797,554
15	$1,370,846	-$467,543 -$67,857	$835,446
16	$1,439,386	-$492,903 -$71,250	$875,233
17	$1,511,330	-$519,522 -$74,811	$916,997
18	$1,586,908	-$547,486 -$78,552	$960,870
19	$1,666,258	-$576,846 -$82,480	$1,006,932
20	$1,749,564	-$607,669 -$86,603	$1,055,292
21	$1,837,056	-$640,041 -$90,934	$1,106,081
22	$1,928,918	-$674,030 -$95,481	$1,159,407
23	$2,025,334	-$709,704 -$100,254	$1,215,376
24	$2,126,626	-$747,182 -$105,268	$1,274,176
25	$2,232,932	-$786,515 -$110,530	$1,335,887
26	$2,344,620	-$827,840 -$116,059	$1,400,721
27	$2,461,828	-$871,207 -$121,860	$1,468,761
28	$2,584,924	-$916,752 -$127,954	$1,540,218
29	$2,714,184	-$964,578 -$134,352	$1,615,254
30	$2,849,884	-$1,014,787 -$141,069	$1,694,028