Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 15, 2026 is estimated to be $269 Million, with a cash option of 120.5 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 Jun 15, 2026

Draw Date	Jackpot	Cash Option
Mon Jun 15, 2026	$269,000,000	$120,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,500,000
Federal Tax(24%)	$28,920,000
Additional Federal Tax	$15,625,330
State Tax(4.95%)	$5,964,750
Net Lumpsum Payment	$69,989,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,048,719	-$1,458,356 -$200,412	$2,389,951
2	$4,251,276	-$1,533,303 -$210,438	$2,507,535
3	$4,463,786	-$1,611,931 -$220,957	$2,630,898
4	$4,687,056	-$1,694,541 -$232,009	$2,760,506
5	$4,921,355	-$1,781,232 -$243,607	$2,896,516
6	$5,167,490	-$1,872,302 -$255,791	$3,039,397
7	$5,425,730	-$1,967,850 -$268,574	$3,189,306
8	$5,697,151	-$2,068,276 -$282,009	$3,346,866
9	$5,982,022	-$2,173,679 -$296,110	$3,512,233
10	$6,281,150	-$2,284,356 -$310,917	$3,685,877
11	$6,595,073	-$2,400,507 -$326,456	$3,868,110
12	$6,924,867	-$2,522,531 -$342,781	$4,059,555
13	$7,271,070	-$2,650,626 -$359,918	$4,260,526
14	$7,634,758	-$2,785,191 -$377,921	$4,471,646
15	$8,016,469	-$2,926,424 -$396,815	$4,693,230
16	$8,417,279	-$3,074,724 -$416,655	$4,925,900
17	$8,837,995	-$3,230,389 -$437,481	$5,170,125
18	$9,279,962	-$3,393,916 -$459,358	$5,426,688
19	$9,743,987	-$3,565,606 -$482,327	$5,696,054
20	$10,231,146	-$3,745,854 -$506,442	$5,978,850
21	$10,742,784	-$3,935,160 -$531,768	$6,275,856
22	$11,279,977	-$4,133,922 -$558,359	$6,587,696
23	$11,843,801	-$4,342,537 -$586,268	$6,914,996
24	$12,436,139	-$4,561,702 -$615,589	$7,258,848
25	$13,057,798	-$4,791,716 -$646,361	$7,619,721
26	$13,710,930	-$5,033,374 -$678,691	$7,998,865
27	$14,396,342	-$5,286,977 -$712,619	$8,396,746
28	$15,116,186	-$5,553,319 -$748,251	$8,814,616
29	$15,872,076	-$5,832,999 -$785,668	$9,253,409
30	$16,665,626	-$6,126,612 -$824,948	$9,714,066