Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jan 6, 2026 is estimated to be $180 Million, with a cash option of 81.9 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 Jan 6, 2026

Draw Date	Jackpot	Cash Option
Tue Jan 6, 2026	$180,000,000	$81,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$81,900,000
Federal Tax(24%)	$19,656,000
Additional Federal Tax	$10,607,330
State Tax(4.95%)	$4,054,050
Net Lumpsum Payment	$47,582,620

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,709,180	-$962,727 -$134,104	$1,612,349
2	$2,844,720	-$1,012,877 -$140,814	$1,691,029
3	$2,986,920	-$1,065,491 -$147,853	$1,773,576
4	$3,136,320	-$1,120,769 -$155,248	$1,860,303
5	$3,293,100	-$1,178,777 -$163,008	$1,951,315
6	$3,457,800	-$1,239,716 -$171,161	$2,046,923
7	$3,630,600	-$1,303,652 -$179,715	$2,147,233
8	$3,812,220	-$1,370,852 -$188,705	$2,252,663
9	$4,002,840	-$1,441,381 -$198,141	$2,363,318
10	$4,203,000	-$1,515,440 -$208,049	$2,479,511
11	$4,413,060	-$1,593,163 -$218,446	$2,601,451
12	$4,633,740	-$1,674,814 -$229,370	$2,729,556
13	$4,865,400	-$1,760,528 -$240,837	$2,864,035
14	$5,108,760	-$1,850,572 -$252,884	$3,005,304
15	$5,364,180	-$1,945,077 -$265,527	$3,153,576
16	$5,632,380	-$2,044,311 -$278,803	$3,309,266
17	$5,913,900	-$2,148,473 -$292,738	$3,472,689
18	$6,209,640	-$2,257,897 -$307,377	$3,644,366
19	$6,520,140	-$2,372,782 -$322,747	$3,824,611
20	$6,846,120	-$2,493,395 -$338,883	$4,013,842
21	$7,188,480	-$2,620,068 -$355,830	$4,212,582
22	$7,547,940	-$2,753,068 -$373,623	$4,421,249
23	$7,925,220	-$2,892,662 -$392,298	$4,640,260
24	$8,321,580	-$3,039,315 -$411,918	$4,870,347
25	$8,737,560	-$3,193,228 -$432,509	$5,111,823
26	$9,174,600	-$3,354,932 -$454,143	$5,365,525
27	$9,633,240	-$3,524,629 -$476,845	$5,631,766
28	$10,114,920	-$3,702,851 -$500,689	$5,911,380
29	$10,620,720	-$3,889,997 -$525,726	$6,204,997
30	$11,151,720	-$4,086,467 -$552,010	$6,513,243