Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Apr 25, 2025 is estimated to be $60 Million, with a cash option of 26.9 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 Fri Apr 25, 2025

Draw Date	Jackpot	Cash Option
Fri Apr 25, 2025	$60,000,000	$26,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$26,900,000
Federal Tax(24%)	$6,456,000
Additional Federal Tax	$3,457,330
State Tax(4.95%)	$1,331,550
Net Lumpsum Payment	$15,655,120

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$44,701	$563,896
2	$948,240	-$311,179 -$46,938	$590,123
3	$995,640	-$328,717 -$49,284	$617,639
4	$1,045,440	-$347,143 -$51,749	$646,548
5	$1,097,700	-$366,479 -$54,336	$676,885
6	$1,152,600	-$386,792 -$57,054	$708,754
7	$1,210,200	-$408,104 -$59,905	$742,191
8	$1,270,740	-$430,504 -$62,902	$777,334
9	$1,334,280	-$454,014 -$66,047	$814,219
10	$1,401,000	-$478,700 -$69,350	$852,950
11	$1,471,020	-$504,608 -$72,815	$893,597
12	$1,544,580	-$531,825 -$76,457	$936,298
13	$1,621,800	-$560,396 -$80,279	$981,125
14	$1,702,920	-$590,411 -$84,295	$1,028,214
15	$1,788,060	-$621,913 -$88,509	$1,077,638
16	$1,877,460	-$654,991 -$92,934	$1,129,535
17	$1,971,300	-$689,711 -$97,579	$1,184,010
18	$2,069,880	-$726,186 -$102,459	$1,241,235
19	$2,173,380	-$764,481 -$107,582	$1,301,317
20	$2,282,040	-$804,685 -$112,961	$1,364,394
21	$2,396,160	-$846,910 -$118,610	$1,430,640
22	$2,515,980	-$891,243 -$124,541	$1,500,196
23	$2,641,740	-$937,774 -$130,766	$1,573,200
24	$2,773,860	-$986,659 -$137,306	$1,649,895
25	$2,912,520	-$1,037,963 -$144,170	$1,730,387
26	$3,058,200	-$1,091,864 -$151,381	$1,814,955
27	$3,211,080	-$1,148,430 -$158,948	$1,903,702
28	$3,371,640	-$1,207,837 -$166,896	$1,996,907
29	$3,540,240	-$1,270,219 -$175,242	$2,094,779
30	$3,717,240	-$1,335,709 -$184,003	$2,197,528