Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 1, 2025 is estimated to be $50 Million, with a cash option of 22.4 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 1, 2025

Draw Date	Jackpot	Cash Option
Tue Jul 1, 2025	$50,000,000	$22,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$22,400,000
Federal Tax(24%)	$5,376,000
Additional Federal Tax	$2,872,330
State Tax(4.95%)	$1,108,800
Net Lumpsum Payment	$13,042,870

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$752,550	-$238,774 -$37,251	$476,525
2	$790,200	-$252,704 -$39,115	$498,381
3	$829,700	-$267,319 -$41,070	$521,311
4	$871,200	-$282,674 -$43,124	$545,402
5	$914,750	-$298,788 -$45,280	$570,682
6	$960,500	-$315,715 -$47,545	$597,240
7	$1,008,500	-$333,475 -$49,921	$625,104
8	$1,058,950	-$352,142 -$52,418	$654,390
9	$1,111,900	-$371,733 -$55,039	$685,128
10	$1,167,500	-$392,305 -$57,791	$717,404
11	$1,225,850	-$413,895 -$60,680	$751,275
12	$1,287,150	-$436,576 -$63,714	$786,860
13	$1,351,500	-$460,385 -$66,899	$824,216
14	$1,419,100	-$485,397 -$70,245	$863,458
15	$1,490,050	-$511,649 -$73,757	$904,644
16	$1,564,550	-$539,214 -$77,445	$947,891
17	$1,642,750	-$568,148 -$81,316	$993,286
18	$1,724,900	-$598,543 -$85,383	$1,040,974
19	$1,811,150	-$630,456 -$89,652	$1,091,042
20	$1,901,700	-$663,959 -$94,134	$1,143,607
21	$1,996,800	-$699,146 -$98,842	$1,198,812
22	$2,096,650	-$736,091 -$103,784	$1,256,775
23	$2,201,450	-$774,867 -$108,972	$1,317,611
24	$2,311,550	-$815,604 -$114,422	$1,381,524
25	$2,427,100	-$858,357 -$120,141	$1,448,602
26	$2,548,500	-$903,275 -$126,151	$1,519,074
27	$2,675,900	-$950,413 -$132,457	$1,593,030
28	$2,809,700	-$999,919 -$139,080	$1,670,701
29	$2,950,200	-$1,051,904 -$146,035	$1,752,261
30	$3,097,700	-$1,106,479 -$153,336	$1,837,885