Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 18, 2026 is estimated to be $100 Million, with a cash option of 42.8 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 Tue Aug 18, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 18, 2026	$100,000,000	$42,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$42,800,000
Federal Tax(24%)	$10,272,000
Additional Federal Tax	$5,524,330
State Tax(4.95%)	$2,118,600
Net Lumpsum Payment	$24,885,070

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,505,100	-$517,217 -$74,502	$913,381
2	$1,580,400	-$545,078 -$78,230	$957,092
3	$1,659,400	-$574,308 -$82,140	$1,002,952
4	$1,742,400	-$605,018 -$86,249	$1,051,133
5	$1,829,500	-$637,245 -$90,560	$1,101,695
6	$1,921,000	-$671,100 -$95,090	$1,154,810
7	$2,017,000	-$706,620 -$99,842	$1,210,538
8	$2,117,900	-$743,953 -$104,836	$1,269,111
9	$2,223,800	-$783,136 -$110,078	$1,330,586
10	$2,335,000	-$824,280 -$115,583	$1,395,137
11	$2,451,700	-$867,459 -$121,359	$1,462,882
12	$2,574,300	-$912,821 -$127,428	$1,534,051
13	$2,703,000	-$960,440 -$133,799	$1,608,761
14	$2,838,200	-$1,010,464 -$140,491	$1,687,245
15	$2,980,100	-$1,062,967 -$147,515	$1,769,618
16	$3,129,100	-$1,118,097 -$154,890	$1,856,113
17	$3,285,500	-$1,175,965 -$162,632	$1,946,903
18	$3,449,800	-$1,236,756 -$170,765	$2,042,279
19	$3,622,300	-$1,300,581 -$179,304	$2,142,415
20	$3,803,400	-$1,367,588 -$188,268	$2,247,544
21	$3,993,600	-$1,437,962 -$197,683	$2,357,955
22	$4,193,300	-$1,511,851 -$207,568	$2,473,881
23	$4,402,900	-$1,589,403 -$217,944	$2,595,553
24	$4,623,100	-$1,670,877 -$228,843	$2,723,380
25	$4,854,200	-$1,756,384 -$240,283	$2,857,533
26	$5,097,000	-$1,846,220 -$252,302	$2,998,478
27	$5,351,800	-$1,940,496 -$264,914	$3,146,390
28	$5,619,400	-$2,039,508 -$278,160	$3,301,732
29	$5,900,400	-$2,143,478 -$292,070	$3,464,852
30	$6,195,400	-$2,252,628 -$306,672	$3,636,100