Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 27, 2026 is estimated to be $443 Million, with a cash option of 186.5 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 Oct 27, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 27, 2026	$443,000,000	$186,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$186,500,000
Federal Tax(24%)	$44,760,000
Additional Federal Tax	$24,205,330
State Tax(4.95%)	$9,231,750
Net Lumpsum Payment	$108,302,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,667,593	-$2,427,340 -$330,046	$3,910,207
2	$7,001,172	-$2,550,764 -$346,558	$4,103,850
3	$7,351,142	-$2,680,253 -$363,882	$4,307,007
4	$7,718,832	-$2,816,298 -$382,082	$4,520,452
5	$8,104,685	-$2,959,064 -$401,182	$4,744,439
6	$8,510,030	-$3,109,041 -$421,246	$4,979,743
7	$8,935,310	-$3,266,395 -$442,298	$5,226,617
8	$9,382,297	-$3,431,780 -$464,424	$5,486,093
9	$9,851,434	-$3,605,361 -$487,646	$5,758,427
10	$10,344,050	-$3,787,629 -$512,030	$6,044,391
11	$10,861,031	-$3,978,912 -$537,621	$6,344,498
12	$11,404,149	-$4,179,866 -$564,505	$6,659,778
13	$11,974,290	-$4,390,818 -$592,727	$6,990,745
14	$12,573,226	-$4,612,424 -$622,375	$7,338,427
15	$13,201,843	-$4,845,012 -$653,491	$7,703,340
16	$13,861,913	-$5,089,238 -$686,165	$8,086,510
17	$14,554,765	-$5,345,593 -$720,461	$8,488,711
18	$15,282,614	-$5,614,898 -$756,489	$8,911,227
19	$16,046,789	-$5,897,642 -$794,316	$9,354,831
20	$16,849,062	-$6,194,483 -$834,029	$9,820,550
21	$17,691,648	-$6,506,240 -$875,737	$10,309,671
22	$18,576,319	-$6,833,568 -$919,528	$10,823,223
23	$19,504,847	-$7,177,124 -$965,490	$11,362,233
24	$20,480,333	-$7,538,054 -$1,013,776	$11,928,503
25	$21,504,106	-$7,916,850 -$1,064,453	$12,522,803
26	$22,579,710	-$8,314,823 -$1,117,696	$13,147,191
27	$23,708,474	-$8,732,466 -$1,173,569	$13,802,439
28	$24,893,942	-$9,171,089 -$1,232,250	$14,490,603
29	$26,138,772	-$9,631,676 -$1,293,869	$15,213,227
30	$27,445,622	-$10,115,211 -$1,358,558	$15,971,853