Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Feb 16, 2026 is estimated to be $154 Million, with a cash option of 72.2 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 Feb 16, 2026

Draw Date	Jackpot	Cash Option
Mon Feb 16, 2026	$154,000,000	$72,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$72,200,000
Federal Tax(24%)	$17,328,000
Additional Federal Tax	$9,346,330
State Tax(4.95%)	$3,573,900
Net Lumpsum Payment	$41,951,770

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,317,854	-$817,936 -$114,734	$1,385,184
2	$2,433,816	-$860,842 -$120,474	$1,452,500
3	$2,555,476	-$905,857 -$126,496	$1,523,123
4	$2,683,296	-$953,150 -$132,823	$1,597,323
5	$2,817,430	-$1,002,779 -$139,463	$1,675,188
6	$2,958,340	-$1,054,916 -$146,438	$1,756,986
7	$3,106,180	-$1,109,617 -$153,756	$1,842,807
8	$3,261,566	-$1,167,110 -$161,448	$1,933,008
9	$3,424,652	-$1,227,452 -$169,520	$2,027,680
10	$3,595,900	-$1,290,813 -$177,997	$2,127,090
11	$3,775,618	-$1,357,309 -$186,893	$2,231,416
12	$3,964,422	-$1,427,167 -$196,239	$2,341,016
13	$4,162,620	-$1,500,500 -$206,050	$2,456,070
14	$4,370,828	-$1,577,537 -$216,356	$2,576,935
15	$4,589,354	-$1,658,391 -$227,173	$2,703,790
16	$4,818,814	-$1,743,292 -$238,531	$2,836,991
17	$5,059,670	-$1,832,408 -$250,454	$2,976,808
18	$5,312,692	-$1,926,026 -$262,978	$3,123,688
19	$5,578,342	-$2,024,317 -$276,128	$3,277,897
20	$5,857,236	-$2,127,508 -$289,933	$3,439,795
21	$6,150,144	-$2,235,884 -$304,432	$3,609,828
22	$6,457,682	-$2,349,673 -$319,655	$3,788,354
23	$6,780,466	-$2,469,103 -$335,633	$3,975,730
24	$7,119,574	-$2,594,573 -$352,419	$4,172,582
25	$7,475,468	-$2,726,254 -$370,036	$4,379,178
26	$7,849,380	-$2,864,601 -$388,544	$4,596,235
27	$8,241,772	-$3,009,786 -$407,968	$4,824,018
28	$8,653,876	-$3,162,265 -$428,367	$5,063,244
29	$9,086,616	-$3,322,378 -$449,787	$5,314,451
30	$9,540,916	-$3,490,469 -$472,275	$5,578,172