Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 30, 2026 is estimated to be $172 Million, with a cash option of 75.6 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 Sat May 30, 2026

Draw Date	Jackpot	Cash Option
Sat May 30, 2026	$172,000,000	$75,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$75,600,000
Federal Tax(24%)	$18,144,000
Additional Federal Tax	$9,788,330
State Tax(4.95%)	$3,742,200
Net Lumpsum Payment	$43,925,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,588,772	-$918,176 -$128,144	$1,542,452
2	$2,718,288	-$966,097 -$134,555	$1,617,636
3	$2,854,168	-$1,016,373 -$141,281	$1,696,514
4	$2,996,928	-$1,069,194 -$148,348	$1,779,386
5	$3,146,740	-$1,124,624 -$155,764	$1,866,352
6	$3,304,120	-$1,182,855 -$163,554	$1,957,711
7	$3,469,240	-$1,243,949 -$171,727	$2,053,564
8	$3,642,788	-$1,308,162 -$180,318	$2,154,308
9	$3,824,936	-$1,375,557 -$189,334	$2,260,045
10	$4,016,200	-$1,446,324 -$198,802	$2,371,074
11	$4,216,924	-$1,520,592 -$208,738	$2,487,594
12	$4,427,796	-$1,598,615 -$219,176	$2,610,005
13	$4,649,160	-$1,680,520 -$230,133	$2,738,507
14	$4,881,704	-$1,766,561 -$241,644	$2,873,499
15	$5,125,772	-$1,856,866 -$253,726	$3,015,180
16	$5,382,052	-$1,951,690 -$266,412	$3,163,950
17	$5,651,060	-$2,051,223 -$279,727	$3,320,110
18	$5,933,656	-$2,155,783 -$293,716	$3,484,157
19	$6,230,356	-$2,265,562 -$308,403	$3,656,391
20	$6,541,848	-$2,380,814 -$323,821	$3,837,213
21	$6,868,992	-$2,501,857 -$340,015	$4,027,120
22	$7,212,476	-$2,628,947 -$357,018	$4,226,511
23	$7,572,988	-$2,762,336 -$374,863	$4,435,789
24	$7,951,732	-$2,902,471 -$393,611	$4,655,650
25	$8,349,224	-$3,049,543 -$413,287	$4,886,394
26	$8,766,840	-$3,204,061 -$433,959	$5,128,820
27	$9,205,096	-$3,366,216 -$455,652	$5,383,228
28	$9,665,368	-$3,536,517 -$478,436	$5,650,415
29	$10,148,688	-$3,715,345 -$502,360	$5,930,983
30	$10,656,088	-$3,903,083 -$527,476	$6,225,529