The jackpot for the Powerball draw on Wed Apr 15, 2026, is projected to be $58 Million, with an option for a cash payout of $26.4 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 Wed Apr 15, 2026 |
|---|
| Draw Date | Wed Apr 15, 2026 | | Projected Jackpot | $58,000,000 | | Cash Value | $26,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,400,000 | | Federal Tax(24%) | $6,336,000 | | Additional Federal Tax | $3,392,330 | | State Tax(4.95%) | $1,306,800 | | Net Lumpsum Payment | $15,364,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$872,958 |
$283,325
$43,211 |
$546,422 |
| 2 |
$916,632 |
$299,484
$45,373 |
$571,775 |
| 3 |
$962,452 |
$316,438
$47,641 |
$598,373 |
| 4 |
$1,010,592 |
$334,249
$50,024 |
$626,319 |
| 5 |
$1,061,110 |
$352,941
$52,525 |
$655,644 |
| 6 |
$1,114,180 |
$372,577
$55,152 |
$686,451 |
| 7 |
$1,169,860 |
$393,179
$57,908 |
$718,773 |
| 8 |
$1,228,382 |
$414,832
$60,805 |
$752,745 |
| 9 |
$1,289,804 |
$437,558
$63,845 |
$788,401 |
| 10 |
$1,354,300 |
$461,421
$67,038 |
$825,841 |
| 11 |
$1,421,986 |
$486,465
$70,388 |
$865,133 |
| 12 |
$1,493,094 |
$512,775
$73,908 |
$906,411 |
| 13 |
$1,567,740 |
$540,394
$77,603 |
$949,743 |
| 14 |
$1,646,156 |
$569,408
$81,485 |
$995,263 |
| 15 |
$1,728,458 |
$599,860
$85,559 |
$1,043,039 |
| 16 |
$1,814,878 |
$631,835
$89,836 |
$1,093,207 |
| 17 |
$1,905,590 |
$665,399
$94,327 |
$1,145,864 |
| 18 |
$2,000,884 |
$700,657
$99,044 |
$1,201,183 |
| 19 |
$2,100,934 |
$737,676
$103,996 |
$1,259,262 |
| 20 |
$2,205,972 |
$776,540
$109,196 |
$1,320,236 |
| 21 |
$2,316,288 |
$817,357
$114,656 |
$1,384,275 |
| 22 |
$2,432,114 |
$860,213
$120,390 |
$1,451,511 |
| 23 |
$2,553,682 |
$905,193
$126,407 |
$1,522,082 |
| 24 |
$2,681,398 |
$952,448
$132,729 |
$1,596,221 |
| 25 |
$2,815,436 |
$1,002,042
$139,364 |
$1,674,030 |
| 26 |
$2,956,260 |
$1,054,147
$146,335 |
$1,755,778 |
| 27 |
$3,104,044 |
$1,108,827
$153,650 |
$1,841,567 |
| 28 |
$3,259,252 |
$1,166,254
$161,333 |
$1,931,665 |
| 29 |
$3,422,232 |
$1,226,556
$169,400 |
$2,026,276 |
| 30 |
$3,593,332 |
$1,289,863
$177,870 |
$2,125,599 |
|
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