The jackpot for the Powerball draw on Mon Dec 1, 2025, is projected to be $740 Million, with an option for a cash payout of $346.1 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 Mon Dec 1, 2025 |
|---|
| Draw Date | Mon Dec 1, 2025 | | Projected Jackpot | $740,000,000 | | Cash Value | $346,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $346,100,000 | | Federal Tax(24%) | $83,064,000 | | Additional Federal Tax | $44,953,330 | | State Tax(4.95%) | $17,131,950 | | Net Lumpsum Payment | $200,950,720 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,137,740 |
$4,081,294
$551,318 |
$6,505,128 |
| 2 |
$11,694,960 |
$4,287,466
$578,901 |
$6,828,593 |
| 3 |
$12,279,560 |
$4,503,768
$607,838 |
$7,167,954 |
| 4 |
$12,893,760 |
$4,731,022
$638,241 |
$7,524,497 |
| 5 |
$13,538,300 |
$4,969,501
$670,146 |
$7,898,653 |
| 6 |
$14,215,400 |
$5,220,028
$703,662 |
$8,291,710 |
| 7 |
$14,925,800 |
$5,482,876
$738,827 |
$8,704,097 |
| 8 |
$15,672,460 |
$5,759,141
$775,787 |
$9,137,532 |
| 9 |
$16,456,120 |
$6,049,095
$814,578 |
$9,592,447 |
| 10 |
$17,279,000 |
$6,353,560
$855,311 |
$10,070,129 |
| 11 |
$18,142,580 |
$6,673,085
$898,058 |
$10,571,437 |
| 12 |
$19,049,820 |
$7,008,764
$942,966 |
$11,098,090 |
| 13 |
$20,002,200 |
$7,361,144
$990,109 |
$11,650,947 |
| 14 |
$21,002,680 |
$7,731,322
$1,039,633 |
$12,231,725 |
| 15 |
$22,052,740 |
$8,119,844
$1,091,611 |
$12,841,285 |
| 16 |
$23,155,340 |
$8,527,806
$1,146,189 |
$13,481,345 |
| 17 |
$24,312,700 |
$8,956,029
$1,203,479 |
$14,153,192 |
| 18 |
$25,528,520 |
$9,405,883
$1,263,662 |
$14,858,975 |
| 19 |
$26,805,020 |
$9,878,188
$1,326,848 |
$15,599,984 |
| 20 |
$28,145,160 |
$10,374,040
$1,393,185 |
$16,377,935 |
| 21 |
$29,552,640 |
$10,894,807
$1,462,856 |
$17,194,977 |
| 22 |
$31,030,420 |
$11,441,586
$1,536,006 |
$18,052,828 |
| 23 |
$32,581,460 |
$12,015,471
$1,612,782 |
$18,953,207 |
| 24 |
$34,210,940 |
$12,618,378
$1,693,442 |
$19,899,120 |
| 25 |
$35,921,080 |
$13,251,130
$1,778,093 |
$20,891,857 |
| 26 |
$37,717,800 |
$13,915,916
$1,867,031 |
$21,934,853 |
| 27 |
$39,603,320 |
$14,613,559
$1,960,364 |
$23,029,397 |
| 28 |
$41,583,560 |
$15,346,248
$2,058,386 |
$24,178,926 |
| 29 |
$43,662,960 |
$16,115,626
$2,161,317 |
$25,386,017 |
| 30 |
$45,845,960 |
$16,923,336
$2,269,375 |
$26,653,249 |
|
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