Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 10, 2025 is estimated to be $243 Million, with a cash option of 108 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 Jun 10, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 10, 2025	$243,000,000	$108,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$108,000,000
Federal Tax(24%)	$25,920,000
Additional Federal Tax	$14,000,330
State Tax(4.95%)	$5,346,000
Net Lumpsum Payment	$62,733,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,657,393	-$1,313,566 -$181,041	$2,162,786
2	$3,840,372	-$1,381,268 -$190,098	$2,269,006
3	$4,032,342	-$1,452,297 -$199,601	$2,380,444
4	$4,234,032	-$1,526,922 -$209,585	$2,497,525
5	$4,445,685	-$1,605,234 -$220,061	$2,620,390
6	$4,668,030	-$1,687,501 -$231,067	$2,749,462
7	$4,901,310	-$1,773,815 -$242,615	$2,884,880
8	$5,146,497	-$1,864,534 -$254,752	$3,027,211
9	$5,403,834	-$1,959,749 -$267,490	$3,176,595
10	$5,674,050	-$2,059,729 -$280,865	$3,333,456
11	$5,957,631	-$2,164,654 -$294,903	$3,498,074
12	$6,255,549	-$2,274,884 -$309,650	$3,671,015
13	$6,568,290	-$2,390,598 -$325,130	$3,852,562
14	$6,896,826	-$2,512,156 -$341,393	$4,043,277
15	$7,241,643	-$2,639,738 -$358,461	$4,243,444
16	$7,603,713	-$2,773,704 -$376,384	$4,453,625
17	$7,983,765	-$2,914,323 -$395,196	$4,674,246
18	$8,383,014	-$3,062,046 -$414,959	$4,906,009
19	$8,802,189	-$3,217,140 -$435,708	$5,149,341
20	$9,242,262	-$3,379,967 -$457,492	$5,404,803
21	$9,704,448	-$3,550,976 -$480,370	$5,673,102
22	$10,189,719	-$3,730,526 -$504,391	$5,954,802
23	$10,699,047	-$3,918,978 -$529,603	$6,250,466
24	$11,234,133	-$4,116,960 -$556,090	$6,561,083
25	$11,795,706	-$4,324,742 -$583,887	$6,887,077
26	$12,385,710	-$4,543,043 -$613,093	$7,229,574
27	$13,004,874	-$4,772,134 -$643,741	$7,588,999
28	$13,655,142	-$5,012,733 -$675,930	$7,966,479
29	$14,337,972	-$5,265,380 -$709,730	$8,362,862
30	$15,054,822	-$5,530,615 -$745,214	$8,778,993