Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 3, 2026 is estimated to be $323 Million, with a cash option of 145.7 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 Feb 3, 2026

Draw Date	Jackpot	Cash Option
Tue Feb 3, 2026	$323,000,000	$145,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$145,700,000
Federal Tax(24%)	$34,968,000
Additional Federal Tax	$18,901,330
State Tax(4.95%)	$7,212,150
Net Lumpsum Payment	$84,618,520

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,861,473	-$1,759,075 -$240,643	$2,861,755
2	$5,104,692	-$1,849,066 -$252,682	$3,002,944
3	$5,359,862	-$1,943,479 -$265,313	$3,151,070
4	$5,627,952	-$2,042,673 -$278,584	$3,306,695
5	$5,909,285	-$2,146,766 -$292,510	$3,470,009
6	$6,204,830	-$2,256,117 -$307,139	$3,641,574
7	$6,514,910	-$2,370,847 -$322,488	$3,821,575
8	$6,840,817	-$2,491,433 -$338,620	$4,010,764
9	$7,182,874	-$2,617,994 -$355,552	$4,209,328
10	$7,542,050	-$2,750,889 -$373,331	$4,417,830
11	$7,918,991	-$2,890,357 -$391,990	$4,636,644
12	$8,314,989	-$3,036,876 -$411,592	$4,866,521
13	$8,730,690	-$3,190,686 -$432,169	$5,107,835
14	$9,167,386	-$3,352,263 -$453,786	$5,361,337
15	$9,625,723	-$3,521,848 -$476,473	$5,627,402
16	$10,106,993	-$3,699,918 -$500,296	$5,906,779
17	$10,612,165	-$3,886,831 -$525,302	$6,200,032
18	$11,142,854	-$4,083,186 -$551,571	$6,508,097
19	$11,700,029	-$4,289,341 -$579,151	$6,831,537
20	$12,284,982	-$4,505,774 -$608,107	$7,171,101
21	$12,899,328	-$4,733,082 -$638,517	$7,527,729
22	$13,544,359	-$4,971,743 -$670,446	$7,902,170
23	$14,221,367	-$5,222,236 -$703,958	$8,295,173
24	$14,932,613	-$5,485,397 -$739,164	$8,708,052
25	$15,679,066	-$5,761,585 -$776,114	$9,141,367
26	$16,463,310	-$6,051,755 -$814,934	$9,596,621
27	$17,286,314	-$6,356,267 -$855,673	$10,074,374
28	$18,150,662	-$6,676,075 -$898,458	$10,576,129
29	$19,058,292	-$7,011,898 -$943,385	$11,103,009
30	$20,011,142	-$7,364,453 -$990,552	$11,656,137