The jackpot for the Powerball draw on Mon Sep 21, 2026, is projected to be $313 Million, with an option for a cash payout of $133.6 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 Mon Sep 21, 2026 |
|---|
| Draw Date | Mon Sep 21, 2026 | | Projected Jackpot | $313,000,000 | | Cash Value | $133,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $133,600,000 | | Federal Tax(24%) | $32,064,000 | | Additional Federal Tax | $17,328,330 | | State Tax(4.95%) | $6,613,200 | | Net Lumpsum Payment | $77,594,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,710,963 |
$1,703,387
$233,193 |
$2,774,383 |
| 2 |
$4,946,652 |
$1,790,592
$244,859 |
$2,911,201 |
| 3 |
$5,193,922 |
$1,882,082
$257,099 |
$3,054,741 |
| 4 |
$5,453,712 |
$1,978,204
$269,959 |
$3,205,549 |
| 5 |
$5,726,335 |
$2,079,074
$283,454 |
$3,363,807 |
| 6 |
$6,012,730 |
$2,185,040
$297,630 |
$3,530,060 |
| 7 |
$6,313,210 |
$2,296,218
$312,504 |
$3,704,488 |
| 8 |
$6,629,027 |
$2,413,070
$328,137 |
$3,887,820 |
| 9 |
$6,960,494 |
$2,535,713
$344,544 |
$4,080,237 |
| 10 |
$7,308,550 |
$2,664,494
$361,773 |
$4,282,283 |
| 11 |
$7,673,821 |
$2,799,644
$379,854 |
$4,494,323 |
| 12 |
$8,057,559 |
$2,941,627
$398,849 |
$4,717,083 |
| 13 |
$8,460,390 |
$3,090,675
$418,789 |
$4,950,926 |
| 14 |
$8,883,566 |
$3,247,250
$439,737 |
$5,196,579 |
| 15 |
$9,327,713 |
$3,411,584
$461,722 |
$5,454,407 |
| 16 |
$9,794,083 |
$3,584,141
$484,807 |
$5,725,135 |
| 17 |
$10,283,615 |
$3,765,268
$509,039 |
$6,009,308 |
| 18 |
$10,797,874 |
$3,955,544
$534,495 |
$6,307,835 |
| 19 |
$11,337,799 |
$4,155,316
$561,221 |
$6,621,262 |
| 20 |
$11,904,642 |
$4,365,048
$589,280 |
$6,950,314 |
| 21 |
$12,499,968 |
$4,585,319
$618,748 |
$7,295,901 |
| 22 |
$13,125,029 |
$4,816,591
$649,689 |
$7,658,749 |
| 23 |
$13,781,077 |
$5,059,329
$682,163 |
$8,039,585 |
| 24 |
$14,470,303 |
$5,314,342
$716,280 |
$8,439,681 |
| 25 |
$15,193,646 |
$5,581,979
$752,085 |
$8,859,582 |
| 26 |
$15,953,610 |
$5,863,166
$789,704 |
$9,300,740 |
| 27 |
$16,751,134 |
$6,158,250
$829,181 |
$9,763,703 |
| 28 |
$17,588,722 |
$6,468,158
$870,642 |
$10,249,922 |
| 29 |
$18,468,252 |
$6,793,584
$914,178 |
$10,760,490 |
| 30 |
$19,391,602 |
$7,135,223
$959,884 |
$11,296,495 |
|
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