Illinois Lottery

ILLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jun 7, 2025 is estimated to be $44 Million, with a cash option of 19.7 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 Jun 7, 2025

Draw Date	Jackpot	Cash Option
Sat Jun 7, 2025	$44,000,000	$19,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$19,700,000
Federal Tax(24%)	$4,728,000
Additional Federal Tax	$2,521,330
State Tax(4.95%)	$975,150
Net Lumpsum Payment	$11,475,520

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$662,244	-$205,361 -$32,781	$424,102
2	$695,376	-$217,620 -$34,421	$443,335
3	$730,136	-$230,481 -$36,142	$463,513
4	$766,656	-$243,993 -$37,949	$484,714
5	$804,980	-$258,173 -$39,847	$506,960
6	$845,240	-$273,069 -$41,839	$530,332
7	$887,480	-$288,698 -$43,930	$554,852
8	$931,876	-$305,125 -$46,128	$580,623
9	$978,472	-$322,365 -$48,434	$607,673
10	$1,027,400	-$340,468 -$50,856	$636,076
11	$1,078,748	-$359,467 -$53,398	$665,883
12	$1,132,692	-$379,426 -$56,068	$697,198
13	$1,189,320	-$400,379 -$58,871	$730,070
14	$1,248,808	-$422,389 -$61,816	$764,603
15	$1,311,244	-$445,491 -$64,907	$800,846
16	$1,376,804	-$469,748 -$68,152	$838,904
17	$1,445,620	-$495,210 -$71,558	$878,852
18	$1,517,912	-$521,958 -$75,137	$920,817
19	$1,593,812	-$550,041 -$78,894	$964,877
20	$1,673,496	-$579,524 -$82,838	$1,011,134
21	$1,757,184	-$610,488 -$86,981	$1,059,715
22	$1,845,052	-$643,000 -$91,330	$1,110,722
23	$1,937,276	-$677,123 -$95,895	$1,164,258
24	$2,034,164	-$712,971 -$100,691	$1,220,502
25	$2,135,848	-$750,594 -$105,724	$1,279,530
26	$2,242,680	-$790,122 -$111,013	$1,341,545
27	$2,354,792	-$831,603 -$116,562	$1,406,627
28	$2,472,536	-$875,169 -$122,391	$1,474,976
29	$2,596,176	-$920,916 -$128,511	$1,546,749
30	$2,725,976	-$968,942 -$134,936	$1,622,098