The jackpot for the Powerball draw on Mon Jun 30, 2025, is projected to be $162 Million, with an option for a cash payout of $74.2 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 Jun 30, 2025 |
|---|
| Draw Date | Mon Jun 30, 2025 | | Projected Jackpot | $162,000,000 | | Cash Value | $74,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $74,200,000 | | Federal Tax(24%) | $17,808,000 | | Additional Federal Tax | $9,606,330 | | State Tax(4.95%) | $3,672,900 | | Net Lumpsum Payment | $43,112,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,438,262 |
$862,487
$120,694 |
$1,455,081 |
| 2 |
$2,560,248 |
$907,622
$126,732 |
$1,525,894 |
| 3 |
$2,688,228 |
$954,975
$133,067 |
$1,600,186 |
| 4 |
$2,822,688 |
$1,004,725
$139,723 |
$1,678,240 |
| 5 |
$2,963,790 |
$1,056,933
$146,708 |
$1,760,149 |
| 6 |
$3,112,020 |
$1,111,778
$154,045 |
$1,846,197 |
| 7 |
$3,267,540 |
$1,169,320
$161,743 |
$1,936,477 |
| 8 |
$3,430,998 |
$1,229,800
$169,834 |
$2,031,364 |
| 9 |
$3,602,556 |
$1,293,276
$178,327 |
$2,130,953 |
| 10 |
$3,782,700 |
$1,359,929
$187,244 |
$2,235,527 |
| 11 |
$3,971,754 |
$1,429,879
$196,602 |
$2,345,273 |
| 12 |
$4,170,366 |
$1,503,366
$206,433 |
$2,460,567 |
| 13 |
$4,378,860 |
$1,580,509
$216,754 |
$2,581,597 |
| 14 |
$4,597,884 |
$1,661,547
$227,595 |
$2,708,742 |
| 15 |
$4,827,762 |
$1,746,602
$238,974 |
$2,842,186 |
| 16 |
$5,069,142 |
$1,835,913
$250,923 |
$2,982,306 |
| 17 |
$5,322,510 |
$1,929,659
$263,464 |
$3,129,387 |
| 18 |
$5,588,676 |
$2,028,141
$276,639 |
$3,283,896 |
| 19 |
$5,868,126 |
$2,131,537
$290,472 |
$3,446,117 |
| 20 |
$6,161,508 |
$2,240,088
$304,995 |
$3,616,425 |
| 21 |
$6,469,632 |
$2,354,094
$320,247 |
$3,795,291 |
| 22 |
$6,793,146 |
$2,473,794
$336,261 |
$3,983,091 |
| 23 |
$7,132,698 |
$2,599,429
$353,069 |
$4,180,200 |
| 24 |
$7,489,422 |
$2,731,417
$370,726 |
$4,387,279 |
| 25 |
$7,863,804 |
$2,869,938
$389,258 |
$4,604,608 |
| 26 |
$8,257,140 |
$3,015,472
$408,728 |
$4,832,940 |
| 27 |
$8,669,916 |
$3,168,199
$429,161 |
$5,072,556 |
| 28 |
$9,103,428 |
$3,328,599
$450,620 |
$5,324,209 |
| 29 |
$9,558,648 |
$3,497,030
$473,153 |
$5,588,465 |
| 30 |
$10,036,548 |
$3,673,853
$496,809 |
$5,865,886 |
|
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