Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Feb 25, 2026 is estimated to be $218 Million, with a cash option of 101.6 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 Wed Feb 25, 2026

Draw Date	Jackpot	Cash Option
Wed Feb 25, 2026	$218,000,000	$101,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$101,600,000
Federal Tax(24%)	$24,384,000
Additional Federal Tax	$13,168,330
State Tax(4.95%)	$5,029,200
Net Lumpsum Payment	$59,018,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,281,118	-$1,174,344 -$162,415	$1,944,359
2	$3,445,272	-$1,235,081 -$170,541	$2,039,650
3	$3,617,492	-$1,298,802 -$179,066	$2,139,624
4	$3,798,432	-$1,365,750 -$188,022	$2,244,660
5	$3,988,310	-$1,436,005 -$197,421	$2,354,884
6	$4,187,780	-$1,509,809 -$207,295	$2,470,676
7	$4,397,060	-$1,587,243 -$217,654	$2,592,163
8	$4,617,022	-$1,668,629 -$228,543	$2,719,850
9	$4,847,884	-$1,754,047 -$239,970	$2,853,867
10	$5,090,300	-$1,843,741 -$251,970	$2,994,589
11	$5,344,706	-$1,937,872 -$264,563	$3,142,271
12	$5,611,974	-$2,036,761 -$277,793	$3,297,420
13	$5,892,540	-$2,140,570 -$291,681	$3,460,289
14	$6,187,276	-$2,249,623 -$306,270	$3,631,383
15	$6,496,618	-$2,364,079 -$321,583	$3,810,956
16	$6,821,438	-$2,484,262 -$337,661	$3,999,515
17	$7,162,390	-$2,610,415 -$354,538	$4,197,437
18	$7,520,564	-$2,742,939 -$372,268	$4,405,357
19	$7,896,614	-$2,882,078 -$390,882	$4,623,654
20	$8,291,412	-$3,028,153 -$410,425	$4,852,834
21	$8,706,048	-$3,181,568 -$430,949	$5,093,531
22	$9,141,394	-$3,342,646 -$452,499	$5,346,249
23	$9,598,322	-$3,511,710 -$475,117	$5,611,495
24	$10,078,358	-$3,689,323 -$498,879	$5,890,156
25	$10,582,156	-$3,875,728 -$523,817	$6,182,611
26	$11,111,460	-$4,071,571 -$550,017	$6,489,872
27	$11,666,924	-$4,277,092 -$577,513	$6,812,319
28	$12,250,292	-$4,492,938 -$606,389	$7,150,965
29	$12,862,872	-$4,719,593 -$636,712	$7,506,567
30	$13,505,972	-$4,957,540 -$668,546	$7,879,886