Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Apr 20, 2026 is estimated to be $87 Million, with a cash option of 39.7 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 Apr 20, 2026

Draw Date	Jackpot	Cash Option
Mon Apr 20, 2026	$87,000,000	$39,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$39,700,000
Federal Tax(24%)	$9,528,000
Additional Federal Tax	$5,121,330
State Tax(4.95%)	$1,965,150
Net Lumpsum Payment	$23,085,520

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,309,437	-$444,822 -$64,817	$799,798
2	$1,374,948	-$469,061 -$68,060	$837,827
3	$1,443,678	-$494,491 -$71,462	$877,725
4	$1,515,888	-$521,209 -$75,036	$919,643
5	$1,591,665	-$549,246 -$78,787	$963,632
6	$1,671,270	-$578,700 -$82,728	$1,009,842
7	$1,754,790	-$609,603 -$86,862	$1,058,325
8	$1,842,573	-$642,082 -$91,207	$1,109,284
9	$1,934,706	-$676,172 -$95,768	$1,162,766
10	$2,031,450	-$711,967 -$100,557	$1,218,926
11	$2,132,979	-$749,533 -$105,582	$1,277,864
12	$2,239,641	-$788,998 -$110,862	$1,339,781
13	$2,351,610	-$830,426 -$116,405	$1,404,779
14	$2,469,234	-$873,947 -$122,227	$1,473,060
15	$2,592,687	-$919,625 -$128,338	$1,544,724
16	$2,722,317	-$967,588 -$134,755	$1,619,974
17	$2,858,385	-$1,017,933 -$141,490	$1,698,962
18	$3,001,326	-$1,070,821 -$148,566	$1,781,939
19	$3,151,401	-$1,126,349 -$155,994	$1,869,058
20	$3,308,958	-$1,184,645 -$163,793	$1,960,520
21	$3,474,432	-$1,245,870 -$171,984	$2,056,578
22	$3,648,171	-$1,310,154 -$180,584	$2,157,433
23	$3,830,523	-$1,377,624 -$189,611	$2,263,288
24	$4,022,097	-$1,448,506 -$199,094	$2,374,497
25	$4,223,154	-$1,522,897 -$209,046	$2,491,211
26	$4,434,390	-$1,601,055 -$219,502	$2,613,833
27	$4,656,066	-$1,683,075 -$230,475	$2,742,516
28	$4,888,878	-$1,769,215 -$241,999	$2,877,664
29	$5,133,348	-$1,859,669 -$254,101	$3,019,578
30	$5,389,998	-$1,954,630 -$266,805	$3,168,563