Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Apr 4, 2025 is estimated to be $43 Million, with a cash option of 20 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 Apr 4, 2025

Draw Date	Jackpot	Cash Option
Fri Apr 4, 2025	$43,000,000	$20,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$20,000,000
Federal Tax(24%)	$4,800,000
Additional Federal Tax	$2,560,330
State Tax(4.95%)	$990,000
Net Lumpsum Payment	$11,649,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$647,193	-$199,792 -$32,036	$415,365
2	$679,572	-$211,772 -$33,639	$434,161
3	$713,542	-$224,341 -$35,320	$453,881
4	$749,232	-$237,546 -$37,087	$474,599
5	$786,685	-$251,404 -$38,941	$496,340
6	$826,030	-$265,961 -$40,888	$519,181
7	$867,310	-$281,235 -$42,932	$543,143
8	$910,697	-$297,288 -$45,080	$568,329
9	$956,234	-$314,137 -$47,334	$594,763
10	$1,004,050	-$331,829 -$49,700	$622,521
11	$1,054,231	-$350,396 -$52,184	$651,651
12	$1,106,949	-$369,902 -$54,794	$682,253
13	$1,162,290	-$390,378 -$57,533	$714,379
14	$1,220,426	-$411,888 -$60,411	$748,127
15	$1,281,443	-$434,464 -$63,431	$783,548
16	$1,345,513	-$458,170 -$66,603	$820,740
17	$1,412,765	-$483,053 -$69,932	$859,780
18	$1,483,414	-$509,194 -$73,429	$900,791
19	$1,557,589	-$536,638 -$77,101	$943,850
20	$1,635,462	-$565,451 -$80,955	$989,056
21	$1,717,248	-$595,712 -$85,004	$1,036,532
22	$1,803,119	-$627,484 -$89,254	$1,086,381
23	$1,893,247	-$660,832 -$93,716	$1,138,699
24	$1,987,933	-$695,866 -$98,403	$1,193,664
25	$2,087,306	-$732,634 -$103,322	$1,251,350
26	$2,191,710	-$771,263 -$108,490	$1,311,957
27	$2,301,274	-$811,802 -$113,913	$1,375,559
28	$2,416,342	-$854,377 -$119,609	$1,442,356
29	$2,537,172	-$899,084 -$125,590	$1,512,498
30	$2,664,022	-$946,019 -$131,869	$1,586,134