The jackpot for the Powerball draw on Wed Oct 29, 2025, is projected to be $376 Million, with an option for a cash payout of $179.3 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 Oct 29, 2025 |
|---|
| Draw Date | Wed Oct 29, 2025 | | Projected Jackpot | $376,000,000 | | Cash Value | $179,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $179,300,000 | | Federal Tax(24%) | $43,032,000 | | Additional Federal Tax | $23,269,330 | | State Tax(4.95%) | $8,875,350 | | Net Lumpsum Payment | $104,123,320 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,659,176 |
$2,054,226
$280,129 |
$3,324,821 |
| 2 |
$5,942,304 |
$2,158,983
$294,144 |
$3,489,177 |
| 3 |
$6,239,344 |
$2,268,888
$308,848 |
$3,661,608 |
| 4 |
$6,551,424 |
$2,384,357
$324,295 |
$3,842,772 |
| 5 |
$6,878,920 |
$2,505,531
$340,507 |
$4,032,882 |
| 6 |
$7,222,960 |
$2,632,826
$357,537 |
$4,232,597 |
| 7 |
$7,583,920 |
$2,766,381
$375,404 |
$4,442,135 |
| 8 |
$7,963,304 |
$2,906,753
$394,184 |
$4,662,367 |
| 9 |
$8,361,488 |
$3,054,081
$413,894 |
$4,893,513 |
| 10 |
$8,779,600 |
$3,208,782
$434,590 |
$5,136,228 |
| 11 |
$9,218,392 |
$3,371,135
$456,310 |
$5,390,947 |
| 12 |
$9,679,368 |
$3,541,697
$479,129 |
$5,658,542 |
| 13 |
$10,163,280 |
$3,720,744
$503,082 |
$5,939,454 |
| 14 |
$10,671,632 |
$3,908,834
$528,246 |
$6,234,552 |
| 15 |
$11,205,176 |
$4,106,246
$554,656 |
$6,544,274 |
| 16 |
$11,765,416 |
$4,313,534
$582,388 |
$6,869,494 |
| 17 |
$12,353,480 |
$4,531,118
$611,497 |
$7,210,865 |
| 18 |
$12,971,248 |
$4,759,692
$642,077 |
$7,569,479 |
| 19 |
$13,619,848 |
$4,999,674
$674,182 |
$7,945,992 |
| 20 |
$14,300,784 |
$5,251,620
$707,889 |
$8,341,275 |
| 21 |
$15,015,936 |
$5,516,227
$743,289 |
$8,756,420 |
| 22 |
$15,766,808 |
$5,794,049
$780,457 |
$9,192,302 |
| 23 |
$16,554,904 |
$6,085,645
$819,468 |
$9,649,791 |
| 24 |
$17,382,856 |
$6,391,987
$860,451 |
$10,130,418 |
| 25 |
$18,251,792 |
$6,713,493
$903,464 |
$10,634,835 |
| 26 |
$19,164,720 |
$7,051,277
$948,654 |
$11,164,789 |
| 27 |
$20,122,768 |
$7,405,755
$996,077 |
$11,720,936 |
| 28 |
$21,128,944 |
$7,778,040
$1,045,883 |
$12,305,021 |
| 29 |
$22,185,504 |
$8,168,967
$1,098,182 |
$12,918,355 |
| 30 |
$23,294,704 |
$8,579,371
$1,153,088 |
$13,562,245 |
|
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