The jackpot for the Powerball draw on Sat Nov 8, 2025, is projected to be $467 Million, with an option for a cash payout of $220.7 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Illinois residents, the state will deduct 4.95% from your lottery earnings.
| Illinois Powerball Jackpot/Cash Option for Sat Nov 8, 2025 |
|---|
| Draw Date | Sat Nov 8, 2025 | | Projected Jackpot | $467,000,000 | | Cash Value | $220,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $220,700,000 | | Federal Tax(24%) | $52,968,000 | | Additional Federal Tax | $28,651,330 | | State Tax(4.95%) | $10,924,650 | | Net Lumpsum Payment | $128,156,020 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,028,817 |
$2,560,993
$347,926 |
$4,119,898 |
| 2 |
$7,380,468 |
$2,691,104
$365,333 |
$4,324,031 |
| 3 |
$7,749,398 |
$2,827,608
$383,595 |
$4,538,195 |
| 4 |
$8,137,008 |
$2,971,023
$402,782 |
$4,763,203 |
| 5 |
$8,543,765 |
$3,121,523
$422,916 |
$4,999,326 |
| 6 |
$8,971,070 |
$3,279,626
$444,068 |
$5,247,376 |
| 7 |
$9,419,390 |
$3,445,505
$466,260 |
$5,507,625 |
| 8 |
$9,890,593 |
$3,619,850
$489,584 |
$5,781,159 |
| 9 |
$10,385,146 |
$3,802,834
$514,065 |
$6,068,247 |
| 10 |
$10,904,450 |
$3,994,977
$539,770 |
$6,369,703 |
| 11 |
$11,449,439 |
$4,196,623
$566,747 |
$6,686,069 |
| 12 |
$12,021,981 |
$4,408,463
$595,088 |
$7,018,430 |
| 13 |
$12,623,010 |
$4,630,844
$624,839 |
$7,367,327 |
| 14 |
$13,254,394 |
$4,864,456
$656,093 |
$7,733,845 |
| 15 |
$13,917,067 |
$5,109,645
$688,895 |
$8,118,527 |
| 16 |
$14,612,897 |
$5,367,102
$723,338 |
$8,522,457 |
| 17 |
$15,343,285 |
$5,637,346
$759,493 |
$8,946,446 |
| 18 |
$16,110,566 |
$5,921,240
$797,473 |
$9,391,853 |
| 19 |
$16,916,141 |
$6,219,303
$837,349 |
$9,859,489 |
| 20 |
$17,761,878 |
$6,532,225
$879,213 |
$10,350,440 |
| 21 |
$18,650,112 |
$6,860,872
$923,181 |
$10,866,059 |
| 22 |
$19,582,711 |
$7,205,933
$969,344 |
$11,407,434 |
| 23 |
$20,561,543 |
$7,568,101
$1,017,796 |
$11,975,646 |
| 24 |
$21,589,877 |
$7,948,585
$1,068,699 |
$12,572,593 |
| 25 |
$22,669,114 |
$8,347,903
$1,122,121 |
$13,199,090 |
| 26 |
$23,802,990 |
$8,767,437
$1,178,248 |
$13,857,305 |
| 27 |
$24,992,906 |
$9,207,706
$1,237,149 |
$14,548,051 |
| 28 |
$26,242,598 |
$9,670,092
$1,299,009 |
$15,273,497 |
| 29 |
$27,554,868 |
$10,155,632
$1,363,966 |
$16,035,270 |
| 30 |
$28,932,518 |
$10,665,362
$1,432,160 |
$16,834,996 |
|
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