Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Illinois MEGA Millions Jackpot/Cash Option for Tue Aug 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(4.95%)	$3,361,050
Net Lumpsum Payment	$39,455,620

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$111,754	$1,350,235
2	$2,370,600	-$837,452 -$117,345	$1,415,803
3	$2,489,100	-$881,297 -$123,210	$1,484,593
4	$2,613,600	-$927,362 -$129,373	$1,556,865
5	$2,744,250	-$975,703 -$135,840	$1,632,707
6	$2,881,500	-$1,026,485 -$142,634	$1,712,381
7	$3,025,500	-$1,079,765 -$149,762	$1,795,973
8	$3,176,850	-$1,135,765 -$157,254	$1,883,831
9	$3,335,700	-$1,194,539 -$165,117	$1,976,044
10	$3,502,500	-$1,256,255 -$173,374	$2,072,871
11	$3,677,550	-$1,321,024 -$182,039	$2,174,487
12	$3,861,450	-$1,389,067 -$191,142	$2,281,241
13	$4,054,500	-$1,460,495 -$200,698	$2,393,307
14	$4,257,300	-$1,535,531 -$210,736	$2,511,033
15	$4,470,150	-$1,614,286 -$221,272	$2,634,592
16	$4,693,650	-$1,696,981 -$232,336	$2,764,333
17	$4,928,250	-$1,783,783 -$243,948	$2,900,519
18	$5,174,700	-$1,874,969 -$256,148	$3,043,583
19	$5,433,450	-$1,970,707 -$268,956	$3,193,787
20	$5,705,100	-$2,071,217 -$282,402	$3,351,481
21	$5,990,400	-$2,176,778 -$296,525	$3,517,097
22	$6,289,950	-$2,287,612 -$311,353	$3,690,985
23	$6,604,350	-$2,403,940 -$326,915	$3,873,495
24	$6,934,650	-$2,526,151 -$343,265	$4,065,234
25	$7,281,300	-$2,654,411 -$360,424	$4,266,465
26	$7,645,500	-$2,789,165 -$378,452	$4,477,883
27	$8,027,700	-$2,930,579 -$397,371	$4,699,750
28	$8,429,100	-$3,079,097 -$417,240	$4,932,763
29	$8,850,600	-$3,235,052 -$438,105	$5,177,443
30	$9,293,100	-$3,398,777 -$460,008	$5,434,315