Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Nov 14, 2026 is estimated to be $63 Million, with a cash option of 27.1 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 Nov 14, 2026

Draw Date	Jackpot	Cash Option
Sat Nov 14, 2026	$63,000,000	$27,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$27,100,000
Federal Tax(24%)	$6,504,000
Additional Federal Tax	$3,483,330
State Tax(4.95%)	$1,341,450
Net Lumpsum Payment	$15,771,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$948,213	-$311,169 -$46,937	$590,107
2	$995,652	-$328,722 -$49,285	$617,645
3	$1,045,422	-$347,137 -$51,748	$646,537
4	$1,097,712	-$366,484 -$54,337	$676,891
5	$1,152,585	-$386,787 -$57,053	$708,745
6	$1,210,230	-$408,115 -$59,906	$742,209
7	$1,270,710	-$430,493 -$62,900	$777,317
8	$1,334,277	-$454,013 -$66,047	$814,217
9	$1,400,994	-$478,698 -$69,349	$852,947
10	$1,471,050	-$504,619 -$72,817	$893,614
11	$1,544,571	-$531,822 -$76,456	$936,293
12	$1,621,809	-$560,400 -$80,280	$981,129
13	$1,702,890	-$590,400 -$84,293	$1,028,197
14	$1,788,066	-$621,915 -$88,509	$1,077,642
15	$1,877,463	-$654,992 -$92,934	$1,129,537
16	$1,971,333	-$689,724 -$97,581	$1,184,028
17	$2,069,865	-$726,180 -$102,458	$1,241,227
18	$2,173,374	-$764,479 -$107,582	$1,301,313
19	$2,282,049	-$804,689 -$112,961	$1,364,399
20	$2,396,142	-$846,903 -$118,609	$1,430,630
21	$2,515,968	-$891,239 -$124,540	$1,500,189
22	$2,641,779	-$937,789 -$130,768	$1,573,222
23	$2,773,827	-$986,646 -$137,304	$1,649,877
24	$2,912,553	-$1,037,975 -$144,171	$1,730,407
25	$3,058,146	-$1,091,844 -$151,378	$1,814,924
26	$3,211,110	-$1,148,441 -$158,950	$1,903,719
27	$3,371,634	-$1,207,835 -$166,896	$1,996,903
28	$3,540,222	-$1,270,213 -$175,241	$2,094,768
29	$3,717,252	-$1,335,714 -$184,004	$2,197,534
30	$3,903,102	-$1,404,478 -$193,204	$2,305,420