Jackpot Analysis Illinois Powerball

Jackpot Analysis for Illinois Powerball
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
Draw DateSat Aug 9, 2025
Projected Jackpot$482,000,000
Cash Value$218,900,000

Lumpsum Option Taxes and Payment
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
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