The jackpot for the Powerball draw on Sat Aug 30, 2025, is projected to be $950 Million, with an option for a cash payout of $428.9 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 30, 2025 |
|---|
| Draw Date | Sat Aug 30, 2025 | | Projected Jackpot | $950,000,000 | | Cash Value | $428,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $428,900,000 | | Federal Tax(24%) | $102,936,000 | | Additional Federal Tax | $55,717,330 | | State Tax(4.95%) | $21,230,550 | | Net Lumpsum Payment | $249,016,120 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,298,450 |
$5,250,757
$707,773 |
$8,339,920 |
| 2 |
$15,013,800 |
$5,515,436
$743,183 |
$8,755,181 |
| 3 |
$15,764,300 |
$5,793,121
$780,333 |
$9,190,846 |
| 4 |
$16,552,800 |
$6,084,866
$819,364 |
$9,648,570 |
| 5 |
$17,380,250 |
$6,391,023
$860,322 |
$10,128,905 |
| 6 |
$18,249,500 |
$6,712,645
$903,350 |
$10,633,505 |
| 7 |
$19,161,500 |
$7,050,085
$948,494 |
$11,162,921 |
| 8 |
$20,120,050 |
$7,404,749
$995,942 |
$11,719,359 |
| 9 |
$21,126,100 |
$7,776,987
$1,045,742 |
$12,303,371 |
| 10 |
$22,182,500 |
$8,167,855
$1,098,034 |
$12,916,611 |
| 11 |
$23,291,150 |
$8,578,056
$1,152,912 |
$13,560,182 |
| 12 |
$24,455,850 |
$9,008,995
$1,210,565 |
$14,236,290 |
| 13 |
$25,678,500 |
$9,461,375
$1,271,086 |
$14,946,039 |
| 14 |
$26,962,900 |
$9,936,603
$1,334,664 |
$15,691,633 |
| 15 |
$28,310,950 |
$10,435,382
$1,401,392 |
$16,474,176 |
| 16 |
$29,726,450 |
$10,959,117
$1,471,459 |
$17,295,874 |
| 17 |
$31,212,250 |
$11,508,863
$1,545,006 |
$18,158,381 |
| 18 |
$32,773,100 |
$12,086,377
$1,622,268 |
$19,064,455 |
| 19 |
$34,411,850 |
$12,692,715
$1,703,387 |
$20,015,748 |
| 20 |
$36,132,300 |
$13,329,281
$1,788,549 |
$21,014,470 |
| 21 |
$37,939,200 |
$13,997,834
$1,877,990 |
$22,063,376 |
| 22 |
$39,836,350 |
$14,699,780
$1,971,899 |
$23,164,671 |
| 23 |
$41,827,550 |
$15,436,524
$2,070,464 |
$24,320,562 |
| 24 |
$43,919,450 |
$16,210,527
$2,174,013 |
$25,534,910 |
| 25 |
$46,114,900 |
$17,022,843
$2,282,688 |
$26,809,369 |
| 26 |
$48,421,500 |
$17,876,285
$2,396,864 |
$28,148,351 |
| 27 |
$50,842,100 |
$18,771,907
$2,516,684 |
$29,553,509 |
| 28 |
$53,384,300 |
$19,712,521
$2,642,523 |
$31,029,256 |
| 29 |
$56,053,800 |
$20,700,236
$2,774,663 |
$32,578,901 |
| 30 |
$58,856,300 |
$21,737,161
$2,913,387 |
$34,205,752 |
|
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