The jackpot for the Powerball draw on Sat Aug 9, 2025, is projected to be $482 Million, with an option for a cash payout of $218.9 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 Aug 9, 2025 |
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Draw Date | Sat Aug 9, 2025 | Projected Jackpot | $482,000,000 | Cash Value | $218,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $218,900,000 | Federal Tax(24%) | $52,536,000 | Additional Federal Tax | $28,417,330 | State Tax(4.95%) | $10,835,550 | Net Lumpsum Payment | $127,111,120 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$7,254,582 |
$2,644,526 $359,102 |
$4,250,954 |
2 |
$7,617,528 |
$2,778,816 $377,068 |
$4,461,644 |
3 |
$7,998,308 |
$2,919,704 $395,916 |
$4,682,688 |
4 |
$8,398,368 |
$3,067,727 $415,719 |
$4,914,922 |
5 |
$8,818,190 |
$3,223,061 $436,500 |
$5,158,629 |
6 |
$9,259,220 |
$3,386,242 $458,331 |
$5,414,647 |
7 |
$9,721,940 |
$3,557,448 $481,236 |
$5,683,256 |
8 |
$10,208,278 |
$3,737,393 $505,310 |
$5,965,575 |
9 |
$10,718,716 |
$3,926,255 $530,576 |
$6,261,885 |
10 |
$11,254,700 |
$4,124,569 $557,108 |
$6,573,023 |
11 |
$11,817,194 |
$4,332,692 $584,951 |
$6,899,551 |
12 |
$12,408,126 |
$4,551,337 $614,202 |
$7,242,587 |
13 |
$13,028,460 |
$4,780,861 $644,909 |
$7,602,690 |
14 |
$13,680,124 |
$5,021,976 $677,166 |
$7,980,982 |
15 |
$14,364,082 |
$5,275,041 $711,022 |
$8,378,019 |
16 |
$15,082,262 |
$5,540,767 $746,572 |
$8,794,923 |
17 |
$15,836,110 |
$5,819,691 $783,887 |
$9,232,532 |
18 |
$16,628,036 |
$6,112,704 $823,088 |
$9,692,244 |
19 |
$17,459,486 |
$6,420,340 $864,245 |
$10,174,901 |
20 |
$18,332,388 |
$6,743,314 $907,453 |
$10,681,621 |
21 |
$19,249,152 |
$7,082,517 $952,833 |
$11,213,802 |
22 |
$20,211,706 |
$7,438,662 $1,000,479 |
$11,772,565 |
23 |
$21,221,978 |
$7,812,462 $1,050,488 |
$12,359,028 |
24 |
$22,283,342 |
$8,205,167 $1,103,025 |
$12,975,150 |
25 |
$23,397,244 |
$8,617,311 $1,158,164 |
$13,621,769 |
26 |
$24,567,540 |
$9,050,320 $1,216,093 |
$14,301,127 |
27 |
$25,795,676 |
$9,504,731 $1,276,886 |
$15,014,059 |
28 |
$27,085,508 |
$9,981,968 $1,340,733 |
$15,762,807 |
29 |
$28,439,928 |
$10,483,104 $1,407,776 |
$16,549,048 |
30 |
$29,861,828 |
$11,009,207 $1,478,160 |
$17,374,461 |
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