Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Apr 5, 2025 is estimated to be $47 Million, with a cash option of 21.8 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 Apr 5, 2025

Draw Date	Jackpot	Cash Option
Sat Apr 5, 2025	$47,000,000	$21,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$21,800,000
Federal Tax(24%)	$5,232,000
Additional Federal Tax	$2,794,330
State Tax(4.95%)	$1,079,100
Net Lumpsum Payment	$12,694,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$707,397	-$222,067 -$35,016	$450,314
2	$742,788	-$235,162 -$36,768	$470,858
3	$779,918	-$248,900 -$38,606	$492,412
4	$818,928	-$263,334 -$40,537	$515,057
5	$859,865	-$278,480 -$42,563	$538,822
6	$902,870	-$294,392 -$44,692	$563,786
7	$947,990	-$311,087 -$46,926	$589,977
8	$995,413	-$328,633 -$49,273	$617,507
9	$1,045,186	-$347,049 -$51,737	$646,400
10	$1,097,450	-$366,387 -$54,324	$676,739
11	$1,152,299	-$386,681 -$57,039	$708,579
12	$1,209,921	-$408,001 -$59,891	$742,029
13	$1,270,410	-$430,382 -$62,885	$777,143
14	$1,333,954	-$453,893 -$66,031	$814,030
15	$1,400,647	-$478,570 -$69,332	$852,745
16	$1,470,677	-$504,481 -$72,799	$893,397
17	$1,544,185	-$531,679 -$76,437	$936,069
18	$1,621,406	-$560,251 -$80,260	$980,895
19	$1,702,481	-$590,248 -$84,273	$1,027,960
20	$1,787,598	-$621,742 -$88,486	$1,077,370
21	$1,876,992	-$654,817 -$92,911	$1,129,264
22	$1,970,851	-$689,545 -$97,557	$1,183,749
23	$2,069,363	-$725,995 -$102,433	$1,240,935
24	$2,172,857	-$764,287 -$107,556	$1,301,014
25	$2,281,474	-$804,476 -$112,933	$1,364,065
26	$2,395,590	-$846,699 -$118,582	$1,430,309
27	$2,515,346	-$891,008 -$124,510	$1,499,828
28	$2,641,118	-$937,544 -$130,735	$1,572,839
29	$2,773,188	-$986,410 -$137,273	$1,649,505
30	$2,911,838	-$1,037,710 -$144,136	$1,729,992