The jackpot for the Powerball draw on Wed Sep 2, 2026, is projected to be $146 Million, with an option for a cash payout of $63.3 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 Sep 2, 2026 |
|---|
| Draw Date | Wed Sep 2, 2026 | | Projected Jackpot | $146,000,000 | | Cash Value | $63,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $63,300,000 | | Federal Tax(24%) | $15,192,000 | | Additional Federal Tax | $8,189,330 | | State Tax(4.95%) | $3,133,350 | | Net Lumpsum Payment | $36,785,320 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,197,446 |
$773,385
$108,774 |
$1,315,287 |
| 2 |
$2,307,384 |
$814,062
$114,216 |
$1,379,106 |
| 3 |
$2,422,724 |
$856,738
$119,925 |
$1,446,061 |
| 4 |
$2,543,904 |
$901,575
$125,923 |
$1,516,406 |
| 5 |
$2,671,070 |
$948,626
$132,218 |
$1,590,226 |
| 6 |
$2,804,660 |
$998,055
$138,831 |
$1,667,774 |
| 7 |
$2,944,820 |
$1,049,914
$145,769 |
$1,749,137 |
| 8 |
$3,092,134 |
$1,104,420
$153,061 |
$1,834,653 |
| 9 |
$3,246,748 |
$1,161,627
$160,714 |
$1,924,407 |
| 10 |
$3,409,100 |
$1,221,697
$168,750 |
$2,018,653 |
| 11 |
$3,579,482 |
$1,284,739
$177,184 |
$2,117,559 |
| 12 |
$3,758,478 |
$1,350,967
$186,045 |
$2,221,466 |
| 13 |
$3,946,380 |
$1,420,491
$195,346 |
$2,330,543 |
| 14 |
$4,143,772 |
$1,493,526
$205,117 |
$2,445,129 |
| 15 |
$4,350,946 |
$1,570,180
$215,372 |
$2,565,394 |
| 16 |
$4,568,486 |
$1,650,670
$226,140 |
$2,691,676 |
| 17 |
$4,796,830 |
$1,735,157
$237,443 |
$2,824,230 |
| 18 |
$5,036,708 |
$1,823,912
$249,317 |
$2,963,479 |
| 19 |
$5,288,558 |
$1,917,097
$261,784 |
$3,109,677 |
| 20 |
$5,552,964 |
$2,014,927
$274,872 |
$3,263,165 |
| 21 |
$5,830,656 |
$2,117,673
$288,617 |
$3,424,366 |
| 22 |
$6,122,218 |
$2,225,551
$303,050 |
$3,593,617 |
| 23 |
$6,428,234 |
$2,338,777
$318,198 |
$3,771,259 |
| 24 |
$6,749,726 |
$2,457,729
$334,111 |
$3,957,886 |
| 25 |
$7,087,132 |
$2,582,569
$350,813 |
$4,153,750 |
| 26 |
$7,441,620 |
$2,713,730
$368,360 |
$4,359,530 |
| 27 |
$7,813,628 |
$2,851,373
$386,775 |
$4,575,480 |
| 28 |
$8,204,324 |
$2,995,930
$406,114 |
$4,802,280 |
| 29 |
$8,614,584 |
$3,147,726
$426,422 |
$5,040,436 |
| 30 |
$9,045,284 |
$3,307,085
$447,742 |
$5,290,457 |
|
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