The jackpot for the Powerball draw on Wed Sep 30, 2026, is projected to be $409 Million, with an option for a cash payout of $170.2 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 Wed Sep 30, 2026 |
|---|
| Draw Date | Wed Sep 30, 2026 | | Projected Jackpot | $409,000,000 | | Cash Value | $170,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $170,200,000 | | Federal Tax(24%) | $40,848,000 | | Additional Federal Tax | $22,086,330 | | State Tax(4.95%) | $8,424,900 | | Net Lumpsum Payment | $98,840,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,155,859 |
$2,237,998
$304,715 |
$3,613,146 |
| 2 |
$6,463,836 |
$2,351,950
$319,960 |
$3,791,926 |
| 3 |
$6,786,946 |
$2,471,500
$335,954 |
$3,979,492 |
| 4 |
$7,126,416 |
$2,597,104
$352,758 |
$4,176,554 |
| 5 |
$7,482,655 |
$2,728,913
$370,391 |
$4,383,351 |
| 6 |
$7,856,890 |
$2,867,380
$388,916 |
$4,600,594 |
| 7 |
$8,249,530 |
$3,012,656
$408,352 |
$4,828,522 |
| 8 |
$8,662,211 |
$3,165,348
$428,779 |
$5,068,084 |
| 9 |
$9,095,342 |
$3,325,607
$450,219 |
$5,319,516 |
| 10 |
$9,550,150 |
$3,493,886
$472,732 |
$5,583,532 |
| 11 |
$10,027,453 |
$3,670,488
$496,359 |
$5,860,606 |
| 12 |
$10,528,887 |
$3,856,019
$521,180 |
$6,151,688 |
| 13 |
$11,055,270 |
$4,050,780
$547,236 |
$6,457,254 |
| 14 |
$11,608,238 |
$4,255,378
$574,608 |
$6,778,252 |
| 15 |
$12,188,609 |
$4,470,116
$603,336 |
$7,115,157 |
| 16 |
$12,798,019 |
$4,695,597
$633,502 |
$7,468,920 |
| 17 |
$13,437,695 |
$4,932,278
$665,166 |
$7,840,251 |
| 18 |
$14,109,682 |
$5,180,913
$698,429 |
$8,230,340 |
| 19 |
$14,815,207 |
$5,441,957
$733,353 |
$8,639,897 |
| 20 |
$15,555,906 |
$5,716,016
$770,017 |
$9,069,873 |
| 21 |
$16,333,824 |
$6,003,845
$808,524 |
$9,521,455 |
| 22 |
$17,150,597 |
$6,306,051
$848,955 |
$9,995,591 |
| 23 |
$18,007,861 |
$6,623,239
$891,389 |
$10,493,233 |
| 24 |
$18,908,479 |
$6,956,468
$935,970 |
$11,016,041 |
| 25 |
$19,853,678 |
$7,306,191
$982,757 |
$11,564,730 |
| 26 |
$20,846,730 |
$7,673,620
$1,031,913 |
$12,141,197 |
| 27 |
$21,888,862 |
$8,059,209
$1,083,499 |
$12,746,154 |
| 28 |
$22,983,346 |
$8,464,168
$1,137,676 |
$13,381,502 |
| 29 |
$24,132,636 |
$8,889,406
$1,194,565 |
$14,048,665 |
| 30 |
$25,339,186 |
$9,335,829
$1,254,290 |
$14,749,067 |
|
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