Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 11, 2025 is estimated to be $501 Million, with a cash option of 229.5 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 Aug 11, 2025

Draw Date	Jackpot	Cash Option
Mon Aug 11, 2025	$501,000,000	$229,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$229,500,000
Federal Tax(24%)	$55,080,000
Additional Federal Tax	$29,795,330
State Tax(4.95%)	$11,360,250
Net Lumpsum Payment	$133,264,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,540,551	-$2,750,334 -$373,257	$4,416,960
2	$7,917,804	-$2,889,918 -$391,931	$4,635,955
3	$8,313,594	-$3,036,360 -$411,523	$4,865,711
4	$8,729,424	-$3,190,217 -$432,106	$5,107,101
5	$9,165,795	-$3,351,675 -$453,707	$5,360,413
6	$9,624,210	-$3,521,288 -$476,398	$5,626,524
7	$10,105,170	-$3,699,243 -$500,206	$5,905,721
8	$10,610,679	-$3,886,282 -$525,229	$6,199,168
9	$11,141,238	-$4,082,588 -$551,491	$6,507,159
10	$11,698,350	-$4,288,720 -$579,068	$6,830,562
11	$12,283,017	-$4,505,047 -$608,009	$7,169,961
12	$12,897,243	-$4,732,310 -$638,414	$7,526,519
13	$13,542,030	-$4,970,881 -$670,330	$7,900,819
14	$14,219,382	-$5,221,502 -$703,859	$8,294,021
15	$14,930,301	-$5,484,542 -$739,050	$8,706,709
16	$15,676,791	-$5,760,743 -$776,001	$9,140,047
17	$16,460,355	-$6,050,662 -$814,788	$9,594,905
18	$17,283,498	-$6,355,225 -$855,533	$10,072,740
19	$18,147,723	-$6,674,988 -$898,312	$10,574,423
20	$19,055,034	-$7,010,693 -$943,224	$11,101,117
21	$20,007,936	-$7,363,267 -$990,393	$11,654,276
22	$21,008,433	-$7,733,451 -$1,039,917	$12,235,065
23	$22,058,529	-$8,121,986 -$1,091,897	$12,844,646
24	$23,161,731	-$8,530,171 -$1,146,506	$13,485,054
25	$24,319,542	-$8,958,561 -$1,203,817	$14,157,164
26	$25,535,970	-$9,408,639 -$1,264,031	$14,863,300
27	$26,812,518	-$9,880,962 -$1,327,220	$15,604,336
28	$28,153,194	-$10,377,012 -$1,393,583	$16,382,599
29	$29,561,004	-$10,897,902 -$1,463,270	$17,199,832
30	$31,038,954	-$11,444,743 -$1,536,428	$18,057,783