Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 2, 2026 is estimated to be $346 Million, with a cash option of 153.8 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 2, 2026

Draw Date	Jackpot	Cash Option
Tue Jun 2, 2026	$346,000,000	$153,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$153,800,000
Federal Tax(24%)	$36,912,000
Additional Federal Tax	$19,954,330
State Tax(4.95%)	$7,613,100
Net Lumpsum Payment	$89,320,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,207,646	-$1,887,159 -$257,778	$3,062,709
2	$5,468,184	-$1,983,558 -$270,675	$3,213,951
3	$5,741,524	-$2,084,694 -$284,205	$3,372,625
4	$6,028,704	-$2,190,951 -$298,421	$3,539,332
5	$6,330,070	-$2,302,456 -$313,338	$3,714,276
6	$6,646,660	-$2,419,595 -$329,010	$3,898,055
7	$6,978,820	-$2,542,494 -$345,452	$4,090,874
8	$7,327,934	-$2,671,666 -$362,733	$4,293,535
9	$7,694,348	-$2,807,239 -$380,870	$4,506,239
10	$8,079,100	-$2,949,597 -$399,915	$4,729,588
11	$8,482,882	-$3,098,997 -$419,903	$4,963,982
12	$8,907,078	-$3,255,949 -$440,900	$5,210,229
13	$9,352,380	-$3,420,711 -$462,943	$5,468,726
14	$9,820,172	-$3,593,794 -$486,099	$5,740,279
15	$10,311,146	-$3,775,454 -$510,402	$6,025,290
16	$10,826,686	-$3,966,204 -$535,921	$6,324,561
17	$11,367,830	-$4,166,427 -$562,708	$6,638,695
18	$11,936,308	-$4,376,764 -$590,847	$6,968,697
19	$12,533,158	-$4,597,599 -$620,391	$7,315,168
20	$13,159,764	-$4,829,443 -$651,408	$7,678,913
21	$13,817,856	-$5,072,937 -$683,984	$8,060,935
22	$14,508,818	-$5,328,593 -$718,186	$8,462,039
23	$15,234,034	-$5,596,923 -$754,085	$8,883,026
24	$15,995,926	-$5,878,823 -$791,798	$9,325,305
25	$16,795,532	-$6,174,677 -$831,379	$9,789,476
26	$17,635,620	-$6,485,510 -$872,963	$10,277,147
27	$18,517,228	-$6,811,705 -$916,603	$10,788,920
28	$19,443,124	-$7,154,286 -$962,435	$11,326,403
29	$20,415,384	-$7,514,022 -$1,010,562	$11,890,800
30	$21,436,084	-$7,891,681 -$1,061,086	$12,483,317