Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Sep 14, 2026 is estimated to be $251 Million, with a cash option of 106.6 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 14, 2026

Draw Date	Jackpot	Cash Option
Mon Sep 14, 2026	$251,000,000	$106,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$106,600,000
Federal Tax(24%)	$25,584,000
Additional Federal Tax	$13,818,330
State Tax(4.95%)	$5,276,700
Net Lumpsum Payment	$61,920,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,777,801	-$1,358,117 -$187,001	$2,232,683
2	$3,966,804	-$1,428,048 -$196,357	$2,342,399
3	$4,165,094	-$1,501,415 -$206,172	$2,457,507
4	$4,373,424	-$1,578,497 -$216,484	$2,578,443
5	$4,592,045	-$1,659,387 -$227,306	$2,705,352
6	$4,821,710	-$1,744,363 -$238,675	$2,838,672
7	$5,062,670	-$1,833,518 -$250,602	$2,978,550
8	$5,315,929	-$1,927,224 -$263,138	$3,125,567
9	$5,581,738	-$2,025,573 -$276,296	$3,279,869
10	$5,860,850	-$2,128,845 -$290,112	$3,441,893
11	$6,153,767	-$2,237,224 -$304,611	$3,611,932
12	$6,461,493	-$2,351,083 -$319,844	$3,790,566
13	$6,784,530	-$2,470,606 -$335,834	$3,978,090
14	$7,123,882	-$2,596,167 -$352,632	$4,175,083
15	$7,480,051	-$2,727,949 -$370,263	$4,381,839
16	$7,854,041	-$2,866,326 -$388,775	$4,598,940
17	$8,246,605	-$3,011,574 -$408,207	$4,826,824
18	$8,658,998	-$3,164,160 -$428,620	$5,066,218
19	$9,091,973	-$3,324,360 -$450,053	$5,317,560
20	$9,546,534	-$3,492,548 -$472,553	$5,581,433
21	$10,023,936	-$3,669,187 -$496,185	$5,858,564
22	$10,525,183	-$3,854,648 -$520,997	$6,149,538
23	$11,051,279	-$4,049,304 -$547,038	$6,454,937
24	$11,603,981	-$4,253,803 -$574,397	$6,775,781
25	$12,184,042	-$4,468,426 -$603,110	$7,112,506
26	$12,793,470	-$4,693,914 -$633,277	$7,466,279
27	$13,433,018	-$4,930,547 -$664,934	$7,837,537
28	$14,104,694	-$5,179,067 -$698,182	$8,227,445
29	$14,810,004	-$5,440,032 -$733,095	$8,636,877
30	$15,550,454	-$5,713,998 -$769,747	$9,066,709