The jackpot for the Powerball draw on Wed Apr 1, 2026, is projected to be $194 Million, with an option for a cash payout of $87.1 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 Apr 1, 2026 |
|---|
| Draw Date | Wed Apr 1, 2026 | | Projected Jackpot | $194,000,000 | | Cash Value | $87,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $87,100,000 | | Federal Tax(24%) | $20,904,000 | | Additional Federal Tax | $11,283,330 | | State Tax(4.95%) | $4,311,450 | | Net Lumpsum Payment | $50,601,220 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,919,894 |
$1,040,691
$144,535 |
$1,734,668 |
| 2 |
$3,065,976 |
$1,094,742
$151,766 |
$1,819,468 |
| 3 |
$3,219,236 |
$1,151,448
$159,352 |
$1,908,436 |
| 4 |
$3,380,256 |
$1,211,025
$167,323 |
$2,001,908 |
| 5 |
$3,549,230 |
$1,273,545
$175,687 |
$2,099,998 |
| 6 |
$3,726,740 |
$1,339,224
$184,474 |
$2,203,042 |
| 7 |
$3,912,980 |
$1,408,133
$193,693 |
$2,311,154 |
| 8 |
$4,108,726 |
$1,480,559
$203,382 |
$2,424,785 |
| 9 |
$4,314,172 |
$1,556,574
$213,552 |
$2,544,046 |
| 10 |
$4,529,900 |
$1,636,393
$224,230 |
$2,669,277 |
| 11 |
$4,756,298 |
$1,720,161
$235,437 |
$2,800,700 |
| 12 |
$4,994,142 |
$1,808,163
$247,210 |
$2,938,769 |
| 13 |
$5,243,820 |
$1,900,544
$259,569 |
$3,083,707 |
| 14 |
$5,506,108 |
$1,997,590
$272,552 |
$3,235,966 |
| 15 |
$5,781,394 |
$2,099,446
$286,179 |
$3,395,769 |
| 16 |
$6,070,454 |
$2,206,398
$300,487 |
$3,563,569 |
| 17 |
$6,373,870 |
$2,318,662
$315,507 |
$3,739,701 |
| 18 |
$6,692,612 |
$2,436,597
$331,284 |
$3,924,731 |
| 19 |
$7,027,262 |
$2,560,417
$347,849 |
$4,118,996 |
| 20 |
$7,378,596 |
$2,690,411
$365,241 |
$4,322,944 |
| 21 |
$7,747,584 |
$2,826,936
$383,505 |
$4,537,143 |
| 22 |
$8,135,002 |
$2,970,281
$402,683 |
$4,762,038 |
| 23 |
$8,541,626 |
$3,120,732
$422,810 |
$4,998,084 |
| 24 |
$8,968,814 |
$3,278,792
$443,956 |
$5,246,066 |
| 25 |
$9,417,148 |
$3,444,675
$466,149 |
$5,506,324 |
| 26 |
$9,888,180 |
$3,618,957
$489,465 |
$5,779,758 |
| 27 |
$10,382,492 |
$3,801,852
$513,933 |
$6,066,707 |
| 28 |
$10,901,636 |
$3,993,936
$539,631 |
$6,368,069 |
| 29 |
$11,446,776 |
$4,195,638
$566,615 |
$6,684,523 |
| 30 |
$12,019,076 |
$4,407,389
$594,944 |
$7,016,743 |
|
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