Illinois Powerball winner could stay anonymous as taxes trim $1.04B prize to about $262M

An Illinois Powerball winner of $1.04B can remain anonymous by filing a claim; they must choose between a lump-sum cash option of about $450.5M or a 30-year annuity. If they take the lump sum, 24% federal withholding reduces it to about $342.4M, with a further 13% federal tax dropping it to about $283.8M; Illinois will withhold roughly $22.3M for a 4.95% state tax, leaving about $261.5M. Anonymity is allowed for prizes over $250K if requested; otherwise the winner’s name and city may be disclosed. The claim deadline for the lump sum is Oct 11, and the ticket was bought at a Hy-Vee in Quincy, IL.