Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 7, 2026 is estimated to be $576 Million, with a cash option of 253.9 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 Tue Jul 7, 2026

Draw Date	Jackpot	Cash Option
Tue Jul 7, 2026	$576,000,000	$253,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$253,900,000
Federal Tax(24%)	$60,936,000
Additional Federal Tax	$32,967,330
State Tax(4.95%)	$12,568,050
Net Lumpsum Payment	$147,428,620

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$8,669,376	-$3,168,000 -$429,134	$5,072,242
2	$9,103,104	-$3,328,479 -$450,604	$5,324,021
3	$9,558,144	-$3,496,844 -$473,128	$5,588,172
4	$10,036,224	-$3,673,733 -$496,793	$5,865,698
5	$10,537,920	-$3,859,361 -$521,627	$6,156,932
6	$11,064,960	-$4,054,366 -$547,716	$6,462,878
7	$11,617,920	-$4,258,961 -$575,087	$6,783,872
8	$12,199,104	-$4,473,999 -$603,856	$7,121,249
9	$12,809,088	-$4,699,693 -$634,050	$7,475,345
10	$13,449,600	-$4,936,682 -$665,755	$7,847,163
11	$14,121,792	-$5,185,393 -$699,029	$8,237,370
12	$14,827,968	-$5,446,679 -$733,984	$8,647,305
13	$15,569,280	-$5,720,964 -$770,679	$9,077,637
14	$16,348,032	-$6,009,102 -$809,228	$9,529,702
15	$17,165,376	-$6,311,520 -$849,686	$10,004,170
16	$18,023,616	-$6,629,068 -$892,169	$10,502,379
17	$18,924,480	-$6,962,388 -$936,762	$11,025,330
18	$19,870,848	-$7,312,544 -$983,607	$11,574,697
19	$20,864,448	-$7,680,176 -$1,032,790	$12,151,482
20	$21,907,584	-$8,066,136 -$1,084,425	$12,757,023
21	$23,003,136	-$8,471,491 -$1,138,655	$13,392,990
22	$24,153,408	-$8,897,091 -$1,195,594	$14,060,723
23	$25,360,704	-$9,343,791 -$1,255,355	$14,761,558
24	$26,629,056	-$9,813,081 -$1,318,138	$15,497,837
25	$27,960,192	-$10,305,601 -$1,384,030	$16,270,561
26	$29,358,720	-$10,823,057 -$1,453,257	$17,082,406
27	$30,826,368	-$11,366,087 -$1,525,905	$17,934,376
28	$32,367,744	-$11,936,396 -$1,602,203	$18,829,145
29	$33,986,304	-$12,535,263 -$1,682,322	$19,768,719
30	$35,685,504	-$13,163,967 -$1,766,432	$20,755,105