The jackpot for the Powerball draw on Sat Apr 26, 2025, is projected to be $168 Million, with an option for a cash payout of $77.1 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 Apr 26, 2025 |
|---|
| Draw Date | Sat Apr 26, 2025 | | Projected Jackpot | $168,000,000 | | Cash Value | $77,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $77,100,000 | | Federal Tax(24%) | $18,504,000 | | Additional Federal Tax | $9,983,330 | | State Tax(4.95%) | $3,816,450 | | Net Lumpsum Payment | $44,796,220 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,528,568 |
$895,901
$125,164 |
$1,507,503 |
| 2 |
$2,655,072 |
$942,707
$131,426 |
$1,580,939 |
| 3 |
$2,787,792 |
$991,813
$137,996 |
$1,657,983 |
| 4 |
$2,927,232 |
$1,043,406
$144,898 |
$1,738,928 |
| 5 |
$3,073,560 |
$1,097,548
$152,141 |
$1,823,871 |
| 6 |
$3,227,280 |
$1,154,424
$159,750 |
$1,913,106 |
| 7 |
$3,388,560 |
$1,214,098
$167,734 |
$2,006,728 |
| 8 |
$3,558,072 |
$1,276,817
$176,125 |
$2,105,130 |
| 9 |
$3,735,984 |
$1,342,644
$184,931 |
$2,208,409 |
| 10 |
$3,922,800 |
$1,411,766
$194,179 |
$2,316,855 |
| 11 |
$4,118,856 |
$1,484,307
$203,883 |
$2,430,666 |
| 12 |
$4,324,824 |
$1,560,515
$214,079 |
$2,550,230 |
| 13 |
$4,541,040 |
$1,640,515
$224,781 |
$2,675,744 |
| 14 |
$4,768,176 |
$1,724,556
$236,025 |
$2,807,595 |
| 15 |
$5,006,568 |
$1,812,761
$247,825 |
$2,945,982 |
| 16 |
$5,256,888 |
$1,905,379
$260,216 |
$3,091,293 |
| 17 |
$5,519,640 |
$2,002,597
$273,222 |
$3,243,821 |
| 18 |
$5,795,664 |
$2,104,726
$286,885 |
$3,404,053 |
| 19 |
$6,085,464 |
$2,211,952
$301,230 |
$3,572,282 |
| 20 |
$6,389,712 |
$2,324,524
$316,291 |
$3,748,897 |
| 21 |
$6,709,248 |
$2,442,752
$332,108 |
$3,934,388 |
| 22 |
$7,044,744 |
$2,566,886
$348,715 |
$4,129,143 |
| 23 |
$7,396,872 |
$2,697,173
$366,145 |
$4,333,554 |
| 24 |
$7,766,808 |
$2,834,049
$384,457 |
$4,548,302 |
| 25 |
$8,155,056 |
$2,977,701
$403,675 |
$4,773,680 |
| 26 |
$8,562,960 |
$3,128,626
$423,867 |
$5,010,467 |
| 27 |
$8,991,024 |
$3,287,009
$445,056 |
$5,258,959 |
| 28 |
$9,440,592 |
$3,453,349
$467,309 |
$5,519,934 |
| 29 |
$9,912,672 |
$3,628,019
$490,677 |
$5,793,976 |
| 30 |
$10,408,272 |
$3,811,391
$515,209 |
$6,081,672 |
|
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