Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon May 11, 2026 is estimated to be $57 Million, with a cash option of 25.7 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 May 11, 2026

Draw Date	Jackpot	Cash Option
Mon May 11, 2026	$57,000,000	$25,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,700,000
Federal Tax(24%)	$6,168,000
Additional Federal Tax	$3,301,330
State Tax(4.95%)	$1,272,150
Net Lumpsum Payment	$14,958,520

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$857,907	-$277,756 -$42,466	$537,685
2	$900,828	-$293,637 -$44,591	$562,600
3	$945,858	-$310,298 -$46,820	$588,740
4	$993,168	-$327,803 -$49,162	$616,203
5	$1,042,815	-$346,172 -$51,619	$645,024
6	$1,094,970	-$365,469 -$54,201	$675,300
7	$1,149,690	-$385,716 -$56,910	$707,064
8	$1,207,203	-$406,995 -$59,757	$740,451
9	$1,267,566	-$429,330 -$62,745	$775,491
10	$1,330,950	-$452,782 -$65,882	$812,286
11	$1,397,469	-$477,394 -$69,175	$850,900
12	$1,467,351	-$503,250 -$72,634	$891,467
13	$1,540,710	-$530,393 -$76,265	$934,052
14	$1,617,774	-$558,907 -$80,080	$978,787
15	$1,698,657	-$588,833 -$84,084	$1,025,740
16	$1,783,587	-$620,258 -$88,288	$1,075,041
17	$1,872,735	-$653,242 -$92,700	$1,126,793
18	$1,966,386	-$687,893 -$97,336	$1,181,157
19	$2,064,711	-$724,273 -$102,203	$1,238,235
20	$2,167,938	-$762,467 -$107,313	$1,298,158
21	$2,276,352	-$802,581 -$112,679	$1,361,092
22	$2,390,181	-$844,697 -$118,314	$1,427,170
23	$2,509,653	-$888,902 -$124,228	$1,496,523
24	$2,635,167	-$935,342 -$130,441	$1,569,384
25	$2,766,894	-$984,081 -$136,961	$1,645,852
26	$2,905,290	-$1,035,288 -$143,812	$1,726,190
27	$3,050,526	-$1,089,025 -$151,001	$1,810,500
28	$3,203,058	-$1,145,462 -$158,551	$1,899,045
29	$3,363,228	-$1,204,725 -$166,480	$1,992,023
30	$3,531,378	-$1,266,940 -$174,803	$2,089,635