Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Apr 26, 2025 is estimated to be $168 Million, with a cash option of 77.1 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 Apr 26, 2025

Draw Date	Jackpot	Cash Option
Sat Apr 26, 2025	$168,000,000	$77,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$77,100,000
Federal Tax(24%)	$18,504,000
Additional Federal Tax	$9,983,330
State Tax(4.95%)	$3,816,450
Net Lumpsum Payment	$44,796,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,528,568	-$895,901 -$125,164	$1,507,503
2	$2,655,072	-$942,707 -$131,426	$1,580,939
3	$2,787,792	-$991,813 -$137,996	$1,657,983
4	$2,927,232	-$1,043,406 -$144,898	$1,738,928
5	$3,073,560	-$1,097,548 -$152,141	$1,823,871
6	$3,227,280	-$1,154,424 -$159,750	$1,913,106
7	$3,388,560	-$1,214,098 -$167,734	$2,006,728
8	$3,558,072	-$1,276,817 -$176,125	$2,105,130
9	$3,735,984	-$1,342,644 -$184,931	$2,208,409
10	$3,922,800	-$1,411,766 -$194,179	$2,316,855
11	$4,118,856	-$1,484,307 -$203,883	$2,430,666
12	$4,324,824	-$1,560,515 -$214,079	$2,550,230
13	$4,541,040	-$1,640,515 -$224,781	$2,675,744
14	$4,768,176	-$1,724,556 -$236,025	$2,807,595
15	$5,006,568	-$1,812,761 -$247,825	$2,945,982
16	$5,256,888	-$1,905,379 -$260,216	$3,091,293
17	$5,519,640	-$2,002,597 -$273,222	$3,243,821
18	$5,795,664	-$2,104,726 -$286,885	$3,404,053
19	$6,085,464	-$2,211,952 -$301,230	$3,572,282
20	$6,389,712	-$2,324,524 -$316,291	$3,748,897
21	$6,709,248	-$2,442,752 -$332,108	$3,934,388
22	$7,044,744	-$2,566,886 -$348,715	$4,129,143
23	$7,396,872	-$2,697,173 -$366,145	$4,333,554
24	$7,766,808	-$2,834,049 -$384,457	$4,548,302
25	$8,155,056	-$2,977,701 -$403,675	$4,773,680
26	$8,562,960	-$3,128,626 -$423,867	$5,010,467
27	$8,991,024	-$3,287,009 -$445,056	$5,258,959
28	$9,440,592	-$3,453,349 -$467,309	$5,519,934
29	$9,912,672	-$3,628,019 -$490,677	$5,793,976
30	$10,408,272	-$3,811,391 -$515,209	$6,081,672