Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Aug 22, 2025 is estimated to be $234 Million, with a cash option of 105.1 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 Aug 22, 2025

Draw Date	Jackpot	Cash Option
Fri Aug 22, 2025	$234,000,000	$105,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$105,100,000
Federal Tax(24%)	$25,224,000
Additional Federal Tax	$13,623,330
State Tax(4.95%)	$5,202,450
Net Lumpsum Payment	$61,050,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,521,934	-$1,263,446 -$174,336	$2,084,152
2	$3,698,136	-$1,328,641 -$183,058	$2,186,437
3	$3,882,996	-$1,397,039 -$192,208	$2,293,749
4	$4,077,216	-$1,468,900 -$201,822	$2,406,494
5	$4,281,030	-$1,544,311 -$211,911	$2,524,808
6	$4,495,140	-$1,623,532 -$222,509	$2,649,099
7	$4,719,780	-$1,706,649 -$233,629	$2,779,502
8	$4,955,886	-$1,794,008 -$245,316	$2,916,562
9	$5,203,692	-$1,885,696 -$257,583	$3,060,413
10	$5,463,900	-$1,981,973 -$270,463	$3,211,464
11	$5,736,978	-$2,083,012 -$283,980	$3,369,986
12	$6,023,862	-$2,189,159 -$298,181	$3,536,522
13	$6,325,020	-$2,300,588 -$313,088	$3,711,344
14	$6,641,388	-$2,417,644 -$328,749	$3,894,995
15	$6,973,434	-$2,540,501 -$345,185	$4,087,748
16	$7,322,094	-$2,669,505 -$362,444	$4,290,145
17	$7,688,070	-$2,804,916 -$380,559	$4,502,595
18	$8,072,532	-$2,947,167 -$399,590	$4,725,775
19	$8,476,182	-$3,096,518 -$419,571	$4,960,093
20	$8,899,956	-$3,253,314 -$440,548	$5,206,094
21	$9,345,024	-$3,417,989 -$462,579	$5,464,456
22	$9,812,322	-$3,590,890 -$485,710	$5,735,722
23	$10,302,786	-$3,772,361 -$509,988	$6,020,437
24	$10,818,054	-$3,963,010 -$535,494	$6,319,550
25	$11,358,828	-$4,163,097 -$562,262	$6,633,469
26	$11,926,980	-$4,373,313 -$590,386	$6,963,281
27	$12,523,212	-$4,593,919 -$619,899	$7,309,394
28	$13,149,396	-$4,825,607 -$650,895	$7,672,894
29	$13,806,936	-$5,068,897 -$683,443	$8,054,596
30	$14,497,236	-$5,324,308 -$717,613	$8,455,315