Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 14, 2026 is estimated to be $637 Million, with a cash option of 278 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 Jul 14, 2026

Draw Date	Jackpot	Cash Option
Tue Jul 14, 2026	$637,000,000	$278,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$278,000,000
Federal Tax(24%)	$66,720,000
Additional Federal Tax	$36,100,330
State Tax(4.95%)	$13,761,000
Net Lumpsum Payment	$161,418,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$9,587,487	-$3,507,701 -$474,581	$5,605,205
2	$10,067,148	-$3,685,175 -$498,324	$5,883,649
3	$10,570,378	-$3,871,370 -$523,234	$6,175,774
4	$11,099,088	-$4,066,993 -$549,405	$6,482,690
5	$11,653,915	-$4,272,279 -$576,869	$6,804,767
6	$12,236,770	-$4,487,935 -$605,720	$7,143,115
7	$12,848,290	-$4,714,198 -$635,990	$7,498,102
8	$13,491,023	-$4,952,009 -$667,806	$7,871,208
9	$14,165,606	-$5,201,605 -$701,197	$8,262,804
10	$14,873,950	-$5,463,692 -$736,261	$8,673,997
11	$15,617,329	-$5,738,742 -$773,058	$9,105,529
12	$16,398,291	-$6,027,698 -$811,715	$9,558,878
13	$17,218,110	-$6,331,031 -$852,296	$10,034,783
14	$18,079,334	-$6,649,684 -$894,927	$10,534,723
15	$18,983,237	-$6,984,128 -$939,670	$11,059,439
16	$19,932,367	-$7,335,306 -$986,652	$11,610,409
17	$20,928,635	-$7,703,925 -$1,035,967	$12,188,743
18	$21,975,226	-$8,091,164 -$1,087,774	$12,796,288
19	$23,074,051	-$8,497,729 -$1,142,166	$13,434,156
20	$24,227,658	-$8,924,564 -$1,199,269	$14,103,825
21	$25,439,232	-$9,372,846 -$1,259,242	$14,807,144
22	$26,711,321	-$9,843,519 -$1,322,210	$15,545,592
23	$28,046,473	-$10,337,525 -$1,388,300	$16,320,648
24	$29,449,147	-$10,856,515 -$1,457,733	$17,134,899
25	$30,921,254	-$11,401,194 -$1,530,602	$17,989,458
26	$32,467,890	-$11,973,450 -$1,607,161	$18,887,279
27	$34,090,966	-$12,573,988 -$1,687,503	$19,829,475
28	$35,795,578	-$13,204,694 -$1,771,881	$20,819,003
29	$37,585,548	-$13,866,983 -$1,860,485	$21,858,080
30	$39,464,698	-$14,562,269 -$1,953,503	$22,948,926