The jackpot for the Powerball draw on Sat Aug 2, 2025, is projected to be $410 Million, with an option for a cash payout of $184.9 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 Sat Aug 2, 2025 |
|---|
| Draw Date | Sat Aug 2, 2025 | | Projected Jackpot | $410,000,000 | | Cash Value | $184,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $184,900,000 | | Federal Tax(24%) | $44,376,000 | | Additional Federal Tax | $23,997,330 | | State Tax(4.95%) | $9,152,550 | | Net Lumpsum Payment | $107,374,120 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,170,910 |
$2,243,567
$305,460 |
$3,621,883 |
| 2 |
$6,479,640 |
$2,357,797
$320,742 |
$3,801,101 |
| 3 |
$6,803,540 |
$2,477,640
$336,775 |
$3,989,125 |
| 4 |
$7,143,840 |
$2,603,551
$353,620 |
$4,186,669 |
| 5 |
$7,500,950 |
$2,735,682
$371,297 |
$4,393,971 |
| 6 |
$7,876,100 |
$2,874,487
$389,867 |
$4,611,746 |
| 7 |
$8,269,700 |
$3,020,119
$409,350 |
$4,840,231 |
| 8 |
$8,683,390 |
$3,173,185
$429,828 |
$5,080,377 |
| 9 |
$9,117,580 |
$3,333,835
$451,320 |
$5,332,425 |
| 10 |
$9,573,500 |
$3,502,525
$473,888 |
$5,597,087 |
| 11 |
$10,051,970 |
$3,679,559
$497,573 |
$5,874,838 |
| 12 |
$10,554,630 |
$3,865,543
$522,454 |
$6,166,633 |
| 13 |
$11,082,300 |
$4,060,781
$548,574 |
$6,472,945 |
| 14 |
$11,636,620 |
$4,265,880
$576,013 |
$6,794,727 |
| 15 |
$12,218,410 |
$4,481,142
$604,811 |
$7,132,457 |
| 16 |
$12,829,310 |
$4,707,175
$635,051 |
$7,487,084 |
| 17 |
$13,470,550 |
$4,944,434
$666,792 |
$7,859,324 |
| 18 |
$14,144,180 |
$5,193,677
$700,137 |
$8,250,366 |
| 19 |
$14,851,430 |
$5,455,359
$735,146 |
$8,660,925 |
| 20 |
$15,593,940 |
$5,730,088
$771,900 |
$9,091,952 |
| 21 |
$16,373,760 |
$6,018,622
$810,501 |
$9,544,637 |
| 22 |
$17,192,530 |
$6,321,566
$851,030 |
$10,019,934 |
| 23 |
$18,051,890 |
$6,639,530
$893,569 |
$10,518,791 |
| 24 |
$18,954,710 |
$6,973,573
$938,258 |
$11,042,879 |
| 25 |
$19,902,220 |
$7,324,152
$985,160 |
$11,592,908 |
| 26 |
$20,897,700 |
$7,692,479
$1,034,436 |
$12,170,785 |
| 27 |
$21,942,380 |
$8,079,011
$1,086,148 |
$12,777,221 |
| 28 |
$23,039,540 |
$8,484,960
$1,140,457 |
$13,414,123 |
| 29 |
$24,191,640 |
$8,911,237
$1,197,486 |
$14,082,917 |
| 30 |
$25,401,140 |
$9,358,752
$1,257,356 |
$14,785,032 |
|
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