Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 4, 2025 is estimated to be $426 Million, with a cash option of 193.5 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 Aug 4, 2025

Draw Date	Jackpot	Cash Option
Mon Aug 4, 2025	$426,000,000	$193,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$193,500,000
Federal Tax(24%)	$46,440,000
Additional Federal Tax	$25,115,330
State Tax(4.95%)	$9,578,250
Net Lumpsum Payment	$112,366,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,411,726	-$2,332,669 -$317,380	$3,761,677
2	$6,732,504	-$2,451,357 -$333,259	$3,947,888
3	$7,069,044	-$2,575,877 -$349,918	$4,143,249
4	$7,422,624	-$2,706,701 -$367,420	$4,348,503
5	$7,793,670	-$2,843,988 -$385,787	$4,563,895
6	$8,183,460	-$2,988,211 -$405,081	$4,790,168
7	$8,592,420	-$3,139,526 -$425,325	$5,027,569
8	$9,022,254	-$3,298,564 -$446,602	$5,277,088
9	$9,473,388	-$3,465,484 -$468,933	$5,538,971
10	$9,947,100	-$3,640,757 -$492,381	$5,813,962
11	$10,444,242	-$3,824,700 -$516,990	$6,102,552
12	$10,966,518	-$4,017,942 -$542,843	$6,405,733
13	$11,514,780	-$4,220,799 -$569,982	$6,723,999
14	$12,090,732	-$4,433,901 -$598,491	$7,058,340
15	$12,695,226	-$4,657,564 -$628,414	$7,409,248
16	$13,329,966	-$4,892,418 -$659,833	$7,777,715
17	$13,996,230	-$5,138,935 -$692,813	$8,164,482
18	$14,696,148	-$5,397,905 -$727,459	$8,570,784
19	$15,430,998	-$5,669,800 -$763,834	$8,997,364
20	$16,202,484	-$5,955,249 -$802,023	$9,445,212
21	$17,012,736	-$6,255,043 -$842,130	$9,915,563
22	$17,863,458	-$6,569,810 -$884,241	$10,409,407
23	$18,756,354	-$6,900,181 -$928,440	$10,927,733
24	$19,694,406	-$7,247,261 -$974,873	$11,472,272
25	$20,678,892	-$7,611,520 -$1,023,605	$12,043,767
26	$21,713,220	-$7,994,222 -$1,074,804	$12,644,194
27	$22,798,668	-$8,395,838 -$1,128,534	$13,274,296
28	$23,938,644	-$8,817,629 -$1,184,963	$13,936,052
29	$25,135,704	-$9,260,541 -$1,244,217	$14,630,946
30	$26,392,404	-$9,725,520 -$1,306,424	$15,360,460