Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jun 28, 2025 is estimated to be $155 Million, with a cash option of 69.8 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 Jun 28, 2025

Draw Date	Jackpot	Cash Option
Sat Jun 28, 2025	$155,000,000	$69,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$69,800,000
Federal Tax(24%)	$16,752,000
Additional Federal Tax	$9,034,330
State Tax(4.95%)	$3,455,100
Net Lumpsum Payment	$40,558,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,332,905	-$823,505 -$115,479	$1,393,921
2	$2,449,620	-$866,690 -$121,256	$1,461,674
3	$2,572,070	-$911,996 -$127,317	$1,532,757
4	$2,700,720	-$959,597 -$133,686	$1,607,437
5	$2,835,725	-$1,009,549 -$140,368	$1,685,808
6	$2,977,550	-$1,062,024 -$147,389	$1,768,137
7	$3,126,350	-$1,117,080 -$154,754	$1,854,516
8	$3,282,745	-$1,174,946 -$162,496	$1,945,303
9	$3,446,890	-$1,235,680 -$170,621	$2,040,589
10	$3,619,250	-$1,299,453 -$179,153	$2,140,644
11	$3,800,135	-$1,366,380 -$188,107	$2,245,648
12	$3,990,165	-$1,436,691 -$197,513	$2,355,961
13	$4,189,650	-$1,510,501 -$207,388	$2,471,761
14	$4,399,210	-$1,588,038 -$217,761	$2,593,411
15	$4,619,155	-$1,669,418 -$228,648	$2,721,089
16	$4,850,105	-$1,754,869 -$240,080	$2,855,156
17	$5,092,525	-$1,844,565 -$252,080	$2,995,880
18	$5,347,190	-$1,938,791 -$264,686	$3,143,713
19	$5,614,565	-$2,037,719 -$277,921	$3,298,925
20	$5,895,270	-$2,141,580 -$291,816	$3,461,874
21	$6,190,080	-$2,250,660 -$306,409	$3,633,011
22	$6,499,615	-$2,365,188 -$321,731	$3,812,696
23	$6,824,495	-$2,485,394 -$337,813	$4,001,288
24	$7,165,805	-$2,611,678 -$354,707	$4,199,420
25	$7,524,010	-$2,744,214 -$372,438	$4,407,358
26	$7,900,350	-$2,883,460 -$391,067	$4,625,823
27	$8,295,290	-$3,029,588 -$410,617	$4,855,085
28	$8,710,070	-$3,183,056 -$431,148	$5,095,866
29	$9,145,620	-$3,344,210 -$452,708	$5,348,702
30	$9,602,870	-$3,513,392 -$475,342	$5,614,136