The jackpot for the Powerball draw on Wed Apr 29, 2026, is projected to be $143 Million, with an option for a cash payout of $65 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 29, 2026 |
|---|
| Draw Date | Wed Apr 29, 2026 | | Projected Jackpot | $143,000,000 | | Cash Value | $65,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $65,000,000 | | Federal Tax(24%) | $15,600,000 | | Additional Federal Tax | $8,410,330 | | State Tax(4.95%) | $3,217,500 | | Net Lumpsum Payment | $37,772,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,152,293 |
$756,679
$106,539 |
$1,289,075 |
| 2 |
$2,259,972 |
$796,520
$111,869 |
$1,351,583 |
| 3 |
$2,372,942 |
$838,319
$117,461 |
$1,417,162 |
| 4 |
$2,491,632 |
$882,234
$123,336 |
$1,486,062 |
| 5 |
$2,616,185 |
$928,319
$129,501 |
$1,558,365 |
| 6 |
$2,747,030 |
$976,731
$135,978 |
$1,634,321 |
| 7 |
$2,884,310 |
$1,027,525
$142,773 |
$1,714,012 |
| 8 |
$3,028,597 |
$1,080,911
$149,916 |
$1,797,770 |
| 9 |
$3,180,034 |
$1,136,943
$157,412 |
$1,885,679 |
| 10 |
$3,339,050 |
$1,195,779
$165,283 |
$1,977,988 |
| 11 |
$3,505,931 |
$1,257,525
$173,544 |
$2,074,862 |
| 12 |
$3,681,249 |
$1,322,393
$182,222 |
$2,176,634 |
| 13 |
$3,865,290 |
$1,390,488
$191,332 |
$2,283,470 |
| 14 |
$4,058,626 |
$1,462,022
$200,902 |
$2,395,702 |
| 15 |
$4,261,543 |
$1,537,101
$210,946 |
$2,513,496 |
| 16 |
$4,474,613 |
$1,615,937
$221,493 |
$2,637,183 |
| 17 |
$4,698,265 |
$1,698,688
$232,564 |
$2,767,013 |
| 18 |
$4,933,214 |
$1,785,620
$244,194 |
$2,903,400 |
| 19 |
$5,179,889 |
$1,876,889
$256,405 |
$3,046,595 |
| 20 |
$5,438,862 |
$1,972,709
$269,224 |
$3,196,929 |
| 21 |
$5,710,848 |
$2,073,344
$282,687 |
$3,354,817 |
| 22 |
$5,996,419 |
$2,179,005
$296,823 |
$3,520,591 |
| 23 |
$6,296,147 |
$2,289,905
$311,659 |
$3,694,583 |
| 24 |
$6,611,033 |
$2,406,413
$327,246 |
$3,877,374 |
| 25 |
$6,941,506 |
$2,528,688
$343,605 |
$4,069,213 |
| 26 |
$7,288,710 |
$2,657,153
$360,791 |
$4,270,766 |
| 27 |
$7,653,074 |
$2,791,968
$378,827 |
$4,482,279 |
| 28 |
$8,035,742 |
$2,933,555
$397,769 |
$4,704,418 |
| 29 |
$8,437,572 |
$3,082,232
$417,660 |
$4,937,680 |
| 30 |
$8,859,422 |
$3,238,317
$438,541 |
$5,182,564 |
|
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