Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Nov 24, 2025 is estimated to be $654 Million, with a cash option of 303.2 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 Nov 24, 2025

Draw Date	Jackpot	Cash Option
Mon Nov 24, 2025	$654,000,000	$303,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$303,200,000
Federal Tax(24%)	$72,768,000
Additional Federal Tax	$39,376,330
State Tax(4.95%)	$15,008,400
Net Lumpsum Payment	$176,047,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$9,843,354	-$3,602,371 -$487,246	$5,753,737
2	$10,335,816	-$3,784,582 -$511,623	$6,039,611
3	$10,852,476	-$3,975,747 -$537,198	$6,339,531
4	$11,395,296	-$4,176,590 -$564,067	$6,654,639
5	$11,964,930	-$4,387,354 -$592,264	$6,985,312
6	$12,563,340	-$4,608,766 -$621,885	$7,332,689
7	$13,191,180	-$4,841,067 -$652,963	$7,697,150
8	$13,851,066	-$5,085,225 -$685,628	$8,080,213
9	$14,543,652	-$5,341,482 -$719,911	$8,482,259
10	$15,270,900	-$5,610,563 -$755,910	$8,904,427
11	$16,034,118	-$5,892,954 -$793,689	$9,347,475
12	$16,835,922	-$6,189,622 -$833,378	$9,812,922
13	$17,677,620	-$6,501,050 -$875,042	$10,301,528
14	$18,561,828	-$6,828,207 -$918,810	$10,814,811
15	$19,489,854	-$7,171,576 -$964,748	$11,353,530
16	$20,464,314	-$7,532,127 -$1,012,984	$11,919,203
17	$21,487,170	-$7,910,583 -$1,063,615	$12,512,972
18	$22,561,692	-$8,308,156 -$1,116,804	$13,136,732
19	$23,689,842	-$8,725,572 -$1,172,647	$13,791,623
20	$24,874,236	-$9,163,798 -$1,231,275	$14,479,163
21	$26,118,144	-$9,624,044 -$1,292,848	$15,201,252
22	$27,424,182	-$10,107,278 -$1,357,497	$15,959,407
23	$28,794,966	-$10,614,468 -$1,425,351	$16,755,147
24	$30,235,074	-$11,147,308 -$1,496,636	$17,591,130
25	$31,746,468	-$11,706,524 -$1,571,450	$18,468,494
26	$33,334,380	-$12,294,051 -$1,650,052	$19,390,277
27	$35,000,772	-$12,910,616 -$1,732,538	$20,357,618
28	$36,750,876	-$13,558,155 -$1,819,168	$21,373,553
29	$38,588,616	-$14,238,118 -$1,910,136	$22,440,362
30	$40,517,916	-$14,951,959 -$2,005,637	$23,560,320