Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Sep 7, 2026 is estimated to be $190 Million, with a cash option of 81.9 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 Sep 7, 2026

Draw Date	Jackpot	Cash Option
Mon Sep 7, 2026	$190,000,000	$81,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$81,900,000
Federal Tax(24%)	$19,656,000
Additional Federal Tax	$10,607,330
State Tax(4.95%)	$4,054,050
Net Lumpsum Payment	$47,582,620

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,859,690	-$1,018,416 -$141,555	$1,699,719
2	$3,002,760	-$1,071,352 -$148,637	$1,782,771
3	$3,152,860	-$1,126,889 -$156,067	$1,869,904
4	$3,310,560	-$1,185,238 -$163,873	$1,961,449
5	$3,476,050	-$1,246,469 -$172,064	$2,057,517
6	$3,649,900	-$1,310,793 -$180,670	$2,158,437
7	$3,832,300	-$1,378,281 -$189,699	$2,264,320
8	$4,024,010	-$1,449,214 -$199,188	$2,375,608
9	$4,225,220	-$1,523,662 -$209,148	$2,492,410
10	$4,436,500	-$1,601,835 -$219,607	$2,615,058
11	$4,658,230	-$1,683,875 -$230,582	$2,743,773
12	$4,891,170	-$1,770,063 -$242,113	$2,878,994
13	$5,135,700	-$1,860,539 -$254,217	$3,020,944
14	$5,392,580	-$1,955,585 -$266,933	$3,170,062
15	$5,662,190	-$2,055,341 -$280,278	$3,326,571
16	$5,945,290	-$2,160,088 -$294,292	$3,490,910
17	$6,242,450	-$2,270,037 -$309,001	$3,663,412
18	$6,554,620	-$2,385,540 -$324,454	$3,844,626
19	$6,882,370	-$2,506,807 -$340,677	$4,034,886
20	$7,226,460	-$2,634,121 -$357,710	$4,234,629
21	$7,587,840	-$2,767,831 -$375,598	$4,444,411
22	$7,967,270	-$2,908,220 -$394,380	$4,664,670
23	$8,365,510	-$3,055,569 -$414,093	$4,895,848
24	$8,783,890	-$3,210,370 -$434,803	$5,138,717
25	$9,222,980	-$3,372,833 -$456,538	$5,393,609
26	$9,684,300	-$3,543,521 -$479,373	$5,661,406
27	$10,168,420	-$3,722,646 -$503,337	$5,942,437
28	$10,676,860	-$3,910,769 -$528,505	$6,237,586
29	$11,210,760	-$4,108,312 -$554,933	$6,547,515
30	$11,771,260	-$4,315,697 -$582,677	$6,872,886