Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 23, 2026 is estimated to be $133 Million, with a cash option of 60.3 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 Mar 23, 2026

Draw Date	Jackpot	Cash Option
Mon Mar 23, 2026	$133,000,000	$60,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$60,300,000
Federal Tax(24%)	$14,472,000
Additional Federal Tax	$7,799,330
State Tax(4.95%)	$2,984,850
Net Lumpsum Payment	$35,043,820

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,001,783	-$700,990 -$99,088	$1,201,705
2	$2,101,932	-$738,045 -$104,046	$1,259,841
3	$2,207,002	-$776,921 -$109,247	$1,320,834
4	$2,317,392	-$817,765 -$114,711	$1,384,916
5	$2,433,235	-$860,627 -$120,445	$1,452,163
6	$2,554,930	-$905,654 -$126,469	$1,522,807
7	$2,682,610	-$952,896 -$132,789	$1,596,925
8	$2,816,807	-$1,002,549 -$139,432	$1,674,826
9	$2,957,654	-$1,054,662 -$146,404	$1,756,588
10	$3,105,550	-$1,109,384 -$153,725	$1,842,441
11	$3,260,761	-$1,166,812 -$161,408	$1,932,541
12	$3,423,819	-$1,227,143 -$169,479	$2,027,197
13	$3,594,990	-$1,290,477 -$177,952	$2,126,561
14	$3,774,806	-$1,357,009 -$186,853	$2,230,944
15	$3,963,533	-$1,426,838 -$196,195	$2,340,500
16	$4,161,703	-$1,500,160 -$206,004	$2,455,539
17	$4,369,715	-$1,577,125 -$216,301	$2,576,289
18	$4,588,234	-$1,657,977 -$227,118	$2,703,139
19	$4,817,659	-$1,742,864 -$238,474	$2,836,321
20	$5,058,522	-$1,831,984 -$250,397	$2,976,141
21	$5,311,488	-$1,925,581 -$262,919	$3,122,988
22	$5,577,089	-$2,023,853 -$276,066	$3,277,170
23	$5,855,857	-$2,126,997 -$289,865	$3,438,995
24	$6,148,723	-$2,235,358 -$304,362	$3,609,003
25	$6,456,086	-$2,349,082 -$319,576	$3,787,428
26	$6,779,010	-$2,468,564 -$335,561	$3,974,885
27	$7,117,894	-$2,593,951 -$352,336	$4,171,607
28	$7,473,802	-$2,725,637 -$369,953	$4,378,212
29	$7,847,532	-$2,863,917 -$388,453	$4,595,162
30	$8,239,882	-$3,009,087 -$407,874	$4,822,921