Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Sep 1, 2025 is estimated to be $1.10 Billion, with a cash option of 498.4 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 Sep 1, 2025

Draw Date	Jackpot	Cash Option
Mon Sep 1, 2025	$1,100,000,000	$498,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$498,400,000
Federal Tax(24%)	$119,616,000
Additional Federal Tax	$64,752,330
State Tax(4.95%)	$24,670,800
Net Lumpsum Payment	$289,360,870

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$16,556,100	-$6,086,087 -$819,527	$9,650,486
2	$17,384,400	-$6,392,558 -$860,528	$10,131,314
3	$18,253,400	-$6,714,088 -$903,543	$10,635,769
4	$19,166,400	-$7,051,898 -$948,737	$11,165,765
5	$20,124,500	-$7,406,395 -$996,163	$11,721,942
6	$21,131,000	-$7,778,800 -$1,045,985	$12,306,215
7	$22,187,000	-$8,169,520 -$1,098,257	$12,919,223
8	$23,296,900	-$8,580,183 -$1,153,197	$13,563,520
9	$24,461,800	-$9,011,196 -$1,210,859	$14,239,745
10	$25,685,000	-$9,463,780 -$1,271,408	$14,949,812
11	$26,968,700	-$9,938,749 -$1,334,951	$15,695,000
12	$28,317,300	-$10,437,731 -$1,401,706	$16,477,863
13	$29,733,000	-$10,961,540 -$1,471,784	$17,299,676
14	$31,220,200	-$11,511,804 -$1,545,400	$18,162,996
15	$32,781,100	-$12,089,337 -$1,622,664	$19,069,099
16	$34,420,100	-$12,695,767 -$1,703,795	$20,020,538
17	$36,140,500	-$13,332,315 -$1,788,955	$21,019,230
18	$37,947,800	-$14,001,016 -$1,878,416	$22,068,368
19	$39,845,300	-$14,703,091 -$1,972,342	$23,169,867
20	$41,837,400	-$15,440,168 -$2,070,951	$24,326,281
21	$43,929,600	-$16,214,282 -$2,174,515	$25,540,803
22	$46,126,300	-$17,027,061 -$2,283,252	$26,815,987
23	$48,431,900	-$17,880,133 -$2,397,379	$28,154,388
24	$50,854,100	-$18,776,347 -$2,517,278	$29,560,475
25	$53,396,200	-$19,716,924 -$2,643,112	$31,036,164
26	$56,067,000	-$20,705,120 -$2,775,317	$32,586,563
27	$58,869,800	-$21,742,156 -$2,914,055	$34,213,589
28	$61,813,400	-$22,831,288 -$3,059,763	$35,922,349
29	$64,904,400	-$23,974,958 -$3,212,768	$37,716,674
30	$68,149,400	-$25,175,608 -$3,373,395	$39,600,397