Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 23, 2026 is estimated to be $467 Million, with a cash option of 211 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 Jun 23, 2026

Draw Date	Jackpot	Cash Option
Tue Jun 23, 2026	$467,000,000	$211,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$211,000,000
Federal Tax(24%)	$50,640,000
Additional Federal Tax	$27,390,330
State Tax(4.95%)	$10,444,500
Net Lumpsum Payment	$122,525,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,028,817	-$2,560,993 -$347,926	$4,119,898
2	$7,380,468	-$2,691,104 -$365,333	$4,324,031
3	$7,749,398	-$2,827,608 -$383,595	$4,538,195
4	$8,137,008	-$2,971,023 -$402,782	$4,763,203
5	$8,543,765	-$3,121,523 -$422,916	$4,999,326
6	$8,971,070	-$3,279,626 -$444,068	$5,247,376
7	$9,419,390	-$3,445,505 -$466,260	$5,507,625
8	$9,890,593	-$3,619,850 -$489,584	$5,781,159
9	$10,385,146	-$3,802,834 -$514,065	$6,068,247
10	$10,904,450	-$3,994,977 -$539,770	$6,369,703
11	$11,449,439	-$4,196,623 -$566,747	$6,686,069
12	$12,021,981	-$4,408,463 -$595,088	$7,018,430
13	$12,623,010	-$4,630,844 -$624,839	$7,367,327
14	$13,254,394	-$4,864,456 -$656,093	$7,733,845
15	$13,917,067	-$5,109,645 -$688,895	$8,118,527
16	$14,612,897	-$5,367,102 -$723,338	$8,522,457
17	$15,343,285	-$5,637,346 -$759,493	$8,946,446
18	$16,110,566	-$5,921,240 -$797,473	$9,391,853
19	$16,916,141	-$6,219,303 -$837,349	$9,859,489
20	$17,761,878	-$6,532,225 -$879,213	$10,350,440
21	$18,650,112	-$6,860,872 -$923,181	$10,866,059
22	$19,582,711	-$7,205,933 -$969,344	$11,407,434
23	$20,561,543	-$7,568,101 -$1,017,796	$11,975,646
24	$21,589,877	-$7,948,585 -$1,068,699	$12,572,593
25	$22,669,114	-$8,347,903 -$1,122,121	$13,199,090
26	$23,802,990	-$8,767,437 -$1,178,248	$13,857,305
27	$24,992,906	-$9,207,706 -$1,237,149	$14,548,051
28	$26,242,598	-$9,670,092 -$1,299,009	$15,273,497
29	$27,554,868	-$10,155,632 -$1,363,966	$16,035,270
30	$28,932,518	-$10,665,362 -$1,432,160	$16,834,996