Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 19, 2025 is estimated to be $216 Million, with a cash option of 97 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Illinois, your state will take 4.95% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Illinois MEGA Millions Jackpot/Cash Option for Tue Aug 19, 2025

Draw Date Jackpot Cash Option
Tue Aug 19, 2025$216,000,000$97,000,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$97,000,000
Federal Tax(24%)$23,280,000
Additional Federal Tax$12,570,330
State Tax(4.95%)$4,801,500
Net Lumpsum Payment$56,348,170

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $3,251,016 -$1,163,206
-$160,925
$1,926,885
2 $3,413,664 -$1,223,386
-$168,976
$2,021,302
3 $3,584,304 -$1,286,523
-$177,423
$2,120,358
4 $3,763,584 -$1,352,856
-$186,297
$2,224,431
5 $3,951,720 -$1,422,467
-$195,610
$2,333,643
6 $4,149,360 -$1,495,594
-$205,393
$2,448,373
7 $4,356,720 -$1,572,317
-$215,658
$2,568,745
8 $4,574,664 -$1,652,956
-$226,446
$2,695,262
9 $4,803,408 -$1,737,591
-$237,769
$2,828,048
10 $5,043,600 -$1,826,462
-$249,658
$2,967,480
11 $5,295,672 -$1,919,729
-$262,136
$3,113,807
12 $5,560,488 -$2,017,711
-$275,244
$3,267,533
13 $5,838,480 -$2,120,568
-$289,005
$3,428,907
14 $6,130,512 -$2,228,620
-$303,460
$3,598,432
15 $6,437,016 -$2,342,026
-$318,632
$3,776,358
16 $6,758,856 -$2,461,107
-$334,563
$3,963,186
17 $7,096,680 -$2,586,102
-$351,286
$4,159,292
18 $7,451,568 -$2,717,411
-$368,853
$4,365,304
19 $7,824,168 -$2,855,273
-$387,296
$4,581,599
20 $8,215,344 -$3,000,008
-$406,660
$4,808,676
21 $8,626,176 -$3,152,016
-$426,996
$5,047,164
22 $9,057,528 -$3,311,616
-$448,348
$5,297,564
23 $9,510,264 -$3,479,128
-$470,758
$5,560,378
24 $9,985,896 -$3,655,112
-$494,302
$5,836,482
25 $10,485,072 -$3,839,807
-$519,011
$6,126,254
26 $11,009,520 -$4,033,853
-$544,971
$6,430,696
27 $11,559,888 -$4,237,489
-$572,214
$6,750,185
28 $12,137,904 -$4,451,355
-$600,826
$7,085,723
29 $12,744,864 -$4,675,930
-$630,871
$7,438,063
30 $13,382,064 -$4,911,694
-$662,412
$7,807,958
2
1
6
Cash Option: $97 Million
Next Draw: Tue Aug 19
Mega Millions
Fri Aug 15, 2025
041727346916

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