Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 17, 2026 is estimated to be $395 Million, with a cash option of 183.3 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 Feb 17, 2026

Draw Date	Jackpot	Cash Option
Tue Feb 17, 2026	$395,000,000	$183,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$183,300,000
Federal Tax(24%)	$43,992,000
Additional Federal Tax	$23,789,330
State Tax(4.95%)	$9,073,350
Net Lumpsum Payment	$106,445,320

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,945,145	-$2,160,034 -$294,285	$3,490,826
2	$6,242,580	-$2,270,085 -$309,008	$3,663,487
3	$6,554,630	-$2,385,543 -$324,454	$3,844,633
4	$6,882,480	-$2,506,848 -$340,683	$4,034,949
5	$7,226,525	-$2,634,145 -$357,713	$4,234,667
6	$7,587,950	-$2,767,872 -$375,604	$4,444,474
7	$7,967,150	-$2,908,176 -$394,374	$4,664,600
8	$8,365,705	-$3,055,641 -$414,102	$4,895,962
9	$8,784,010	-$3,210,414 -$434,808	$5,138,788
10	$9,223,250	-$3,372,933 -$456,551	$5,393,766
11	$9,684,215	-$3,543,490 -$479,369	$5,661,356
12	$10,168,485	-$3,722,670 -$503,340	$5,942,475
13	$10,676,850	-$3,910,765 -$528,504	$6,237,581
14	$11,210,890	-$4,108,360 -$554,939	$6,547,591
15	$11,771,395	-$4,315,747 -$582,684	$6,872,964
16	$12,359,945	-$4,533,510 -$611,817	$7,214,618
17	$12,977,725	-$4,762,089 -$642,397	$7,573,239
18	$13,626,710	-$5,002,213 -$674,522	$7,949,975
19	$14,308,085	-$5,254,322 -$708,250	$8,345,513
20	$15,023,430	-$5,518,999 -$743,660	$8,760,771
21	$15,774,720	-$5,796,977 -$780,849	$9,196,894
22	$16,563,535	-$6,088,838 -$819,895	$9,654,802
23	$17,391,455	-$6,395,169 -$860,877	$10,135,409
24	$18,261,245	-$6,716,991 -$903,932	$10,640,322
25	$19,174,090	-$7,054,744 -$949,117	$11,170,229
26	$20,133,150	-$7,409,596 -$996,591	$11,726,963
27	$21,139,610	-$7,781,986 -$1,046,411	$12,311,213
28	$22,196,630	-$8,173,083 -$1,098,733	$12,924,814
29	$23,306,580	-$8,583,765 -$1,153,676	$13,569,139
30	$24,471,830	-$9,014,907 -$1,211,356	$14,245,567