The jackpot for the Powerball draw on Mon Mar 9, 2026, is projected to be $46 Million, with an option for a cash payout of $21.2 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 Mar 9, 2026 |
|---|
| Draw Date | Mon Mar 9, 2026 | | Projected Jackpot | $46,000,000 | | Cash Value | $21,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $21,200,000 | | Federal Tax(24%) | $5,088,000 | | Additional Federal Tax | $2,716,330 | | State Tax(4.95%) | $1,049,400 | | Net Lumpsum Payment | $12,346,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$692,346 |
$216,498
$34,271 |
$441,577 |
| 2 |
$726,984 |
$229,314
$35,986 |
$461,684 |
| 3 |
$763,324 |
$242,760
$37,785 |
$482,779 |
| 4 |
$801,504 |
$256,887
$39,674 |
$504,943 |
| 5 |
$841,570 |
$271,711
$41,658 |
$528,201 |
| 6 |
$883,660 |
$287,285
$43,741 |
$552,634 |
| 7 |
$927,820 |
$303,624
$45,927 |
$578,269 |
| 8 |
$974,234 |
$320,797
$48,225 |
$605,212 |
| 9 |
$1,022,948 |
$338,821
$50,636 |
$633,491 |
| 10 |
$1,074,100 |
$357,747
$53,168 |
$663,185 |
| 11 |
$1,127,782 |
$377,610
$55,825 |
$694,347 |
| 12 |
$1,184,178 |
$398,476
$58,617 |
$727,085 |
| 13 |
$1,243,380 |
$420,381
$61,547 |
$761,452 |
| 14 |
$1,305,572 |
$443,392
$64,626 |
$797,554 |
| 15 |
$1,370,846 |
$467,543
$67,857 |
$835,446 |
| 16 |
$1,439,386 |
$492,903
$71,250 |
$875,233 |
| 17 |
$1,511,330 |
$519,522
$74,811 |
$916,997 |
| 18 |
$1,586,908 |
$547,486
$78,552 |
$960,870 |
| 19 |
$1,666,258 |
$576,846
$82,480 |
$1,006,932 |
| 20 |
$1,749,564 |
$607,669
$86,603 |
$1,055,292 |
| 21 |
$1,837,056 |
$640,041
$90,934 |
$1,106,081 |
| 22 |
$1,928,918 |
$674,030
$95,481 |
$1,159,407 |
| 23 |
$2,025,334 |
$709,704
$100,254 |
$1,215,376 |
| 24 |
$2,126,626 |
$747,182
$105,268 |
$1,274,176 |
| 25 |
$2,232,932 |
$786,515
$110,530 |
$1,335,887 |
| 26 |
$2,344,620 |
$827,840
$116,059 |
$1,400,721 |
| 27 |
$2,461,828 |
$871,207
$121,860 |
$1,468,761 |
| 28 |
$2,584,924 |
$916,752
$127,954 |
$1,540,218 |
| 29 |
$2,714,184 |
$964,578
$134,352 |
$1,615,254 |
| 30 |
$2,849,884 |
$1,014,787
$141,069 |
$1,694,028 |
|
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