Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 6, 2026 is estimated to be $345 Million, with a cash option of 139.6 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 Oct 6, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 6, 2026	$345,000,000	$139,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$139,600,000
Federal Tax(24%)	$33,504,000
Additional Federal Tax	$18,108,330
State Tax(4.95%)	$6,910,200
Net Lumpsum Payment	$81,077,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,192,595	-$1,881,591 -$257,033	$3,053,971
2	$5,452,380	-$1,977,711 -$269,893	$3,204,776
3	$5,724,930	-$2,078,554 -$283,384	$3,362,992
4	$6,011,280	-$2,184,504 -$297,558	$3,529,218
5	$6,311,775	-$2,295,687 -$312,433	$3,703,655
6	$6,627,450	-$2,412,487 -$328,059	$3,886,904
7	$6,958,650	-$2,535,031 -$344,453	$4,079,166
8	$7,306,755	-$2,663,830 -$361,684	$4,281,241
9	$7,672,110	-$2,799,011 -$379,769	$4,493,330
10	$8,055,750	-$2,940,958 -$398,760	$4,716,032
11	$8,458,365	-$3,089,925 -$418,689	$4,949,751
12	$8,881,335	-$3,246,424 -$439,626	$5,195,285
13	$9,325,350	-$3,410,710 -$461,605	$5,453,035
14	$9,791,790	-$3,583,293 -$484,694	$5,723,803
15	$10,281,345	-$3,764,428 -$508,927	$6,007,990
16	$10,795,395	-$3,954,627 -$534,372	$6,306,396
17	$11,334,975	-$4,154,271 -$561,081	$6,619,623
18	$11,901,810	-$4,364,000 -$589,140	$6,948,670
19	$12,496,935	-$4,584,196 -$618,598	$7,294,141
20	$13,121,730	-$4,815,370 -$649,526	$7,656,834
21	$13,777,920	-$5,058,161 -$682,007	$8,037,752
22	$14,466,885	-$5,313,078 -$716,111	$8,437,696
23	$15,190,005	-$5,580,632 -$751,905	$8,857,468
24	$15,949,695	-$5,861,718 -$789,510	$9,298,467
25	$16,746,990	-$6,156,717 -$828,976	$9,761,297
26	$17,584,650	-$6,466,651 -$870,440	$10,247,559
27	$18,463,710	-$6,791,903 -$913,954	$10,757,853
28	$19,386,930	-$7,133,494 -$959,653	$11,293,783
29	$20,356,380	-$7,492,191 -$1,007,641	$11,856,548
30	$21,374,130	-$7,868,758 -$1,058,019	$12,447,353