Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Sep 8, 2026 is estimated to be $193 Million, with a cash option of 82.8 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 Sep 8, 2026

Draw Date	Jackpot	Cash Option
Tue Sep 8, 2026	$193,000,000	$82,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,800,000
Federal Tax(24%)	$19,872,000
Additional Federal Tax	$10,724,330
State Tax(4.95%)	$4,098,600
Net Lumpsum Payment	$48,105,070

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,904,843	-$1,035,122 -$143,790	$1,725,931
2	$3,050,172	-$1,088,894 -$150,984	$1,810,294
3	$3,202,642	-$1,145,308 -$158,531	$1,898,803
4	$3,362,832	-$1,204,578 -$166,460	$1,991,794
5	$3,530,935	-$1,266,776 -$174,781	$2,089,378
6	$3,707,530	-$1,332,116 -$183,523	$2,191,891
7	$3,892,810	-$1,400,670 -$192,694	$2,299,446
8	$4,087,547	-$1,472,723 -$202,334	$2,412,490
9	$4,291,934	-$1,548,346 -$212,451	$2,531,137
10	$4,506,550	-$1,627,754 -$223,074	$2,655,722
11	$4,731,781	-$1,711,089 -$234,223	$2,786,469
12	$4,968,399	-$1,798,638 -$245,936	$2,923,825
13	$5,216,790	-$1,890,543 -$258,231	$3,068,016
14	$5,477,726	-$1,987,089 -$271,147	$3,219,490
15	$5,751,593	-$2,088,420 -$284,704	$3,378,469
16	$6,039,163	-$2,194,821 -$298,939	$3,545,403
17	$6,341,015	-$2,306,506 -$313,880	$3,720,629
18	$6,658,114	-$2,423,833 -$329,577	$3,904,704
19	$6,991,039	-$2,547,015 -$346,056	$4,097,968
20	$7,340,562	-$2,676,338 -$363,358	$4,300,866
21	$7,707,648	-$2,812,160 -$381,529	$4,513,959
22	$8,093,069	-$2,954,766 -$400,607	$4,737,696
23	$8,497,597	-$3,104,441 -$420,631	$4,972,525
24	$8,922,583	-$3,261,686 -$441,668	$5,219,229
25	$9,368,606	-$3,426,715 -$463,746	$5,478,145
26	$9,837,210	-$3,600,098 -$486,942	$5,750,170
27	$10,328,974	-$3,782,051 -$511,284	$6,035,639
28	$10,845,442	-$3,973,144 -$536,849	$6,335,449
29	$11,387,772	-$4,173,806 -$563,695	$6,650,271
30	$11,957,122	-$4,384,466 -$591,878	$6,980,778