Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jul 25, 2025 is estimated to be $120 Million, with a cash option of 52.8 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 Fri Jul 25, 2025

Draw Date	Jackpot	Cash Option
Fri Jul 25, 2025	$120,000,000	$52,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$52,800,000
Federal Tax(24%)	$12,672,000
Additional Federal Tax	$6,824,330
State Tax(4.95%)	$2,613,600
Net Lumpsum Payment	$30,690,070

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,806,120	-$628,595 -$89,403	$1,088,122
2	$1,896,480	-$662,028 -$93,876	$1,140,576
3	$1,991,280	-$697,104 -$98,568	$1,195,608
4	$2,090,880	-$733,956 -$103,499	$1,253,425
5	$2,195,400	-$772,628 -$108,672	$1,314,100
6	$2,305,200	-$813,254 -$114,107	$1,377,839
7	$2,420,400	-$855,878 -$119,810	$1,444,712
8	$2,541,480	-$900,678 -$125,803	$1,514,999
9	$2,668,560	-$947,698 -$132,094	$1,588,768
10	$2,802,000	-$997,070 -$138,699	$1,666,231
11	$2,942,040	-$1,048,885 -$145,631	$1,747,524
12	$3,089,160	-$1,103,320 -$152,913	$1,832,927
13	$3,243,600	-$1,160,462 -$160,558	$1,922,580
14	$3,405,840	-$1,220,491 -$168,589	$2,016,760
15	$3,576,120	-$1,283,495 -$177,018	$2,115,607
16	$3,754,920	-$1,349,651 -$185,869	$2,219,400
17	$3,942,600	-$1,419,092 -$195,159	$2,328,349
18	$4,139,760	-$1,492,042 -$204,918	$2,442,800
19	$4,346,760	-$1,568,632 -$215,165	$2,562,963
20	$4,564,080	-$1,649,040 -$225,922	$2,689,118
21	$4,792,320	-$1,733,489 -$237,220	$2,821,611
22	$5,031,960	-$1,822,156 -$249,082	$2,960,722
23	$5,283,480	-$1,915,218 -$261,532	$3,106,730
24	$5,547,720	-$2,012,987 -$274,612	$3,260,121
25	$5,825,040	-$2,115,595 -$288,339	$3,421,106
26	$6,116,400	-$2,223,398 -$302,762	$3,590,240
27	$6,422,160	-$2,336,530 -$317,897	$3,767,733
28	$6,743,280	-$2,455,344 -$333,792	$3,954,144
29	$7,080,480	-$2,580,108 -$350,484	$4,149,888
30	$7,434,480	-$2,711,088 -$368,007	$4,355,385