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