Illinois Lottery

ILLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 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 Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$31,800,000
Federal Tax(24%)	$7,632,000
Additional Federal Tax	$4,094,330
State Tax(4.95%)	$1,574,100
Net Lumpsum Payment	$18,499,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$52,152	$651,267
2	$1,106,280	-$369,654 -$54,761	$681,865
3	$1,161,580	-$390,115 -$57,498	$713,967
4	$1,219,680	-$411,612 -$60,374	$747,694
5	$1,280,650	-$434,171 -$63,392	$783,087
6	$1,344,700	-$457,869 -$66,563	$820,268
7	$1,411,900	-$482,733 -$69,889	$859,278
8	$1,482,530	-$508,866 -$73,385	$900,279
9	$1,556,660	-$536,295 -$77,055	$943,310
10	$1,634,500	-$565,095 -$80,908	$988,497
11	$1,716,190	-$595,321 -$84,951	$1,035,918
12	$1,802,010	-$627,074 -$89,199	$1,085,737
13	$1,892,100	-$660,407 -$93,659	$1,138,034
14	$1,986,740	-$695,424 -$98,344	$1,192,972
15	$2,086,070	-$732,176 -$103,260	$1,250,634
16	$2,190,370	-$770,767 -$108,423	$1,311,180
17	$2,299,850	-$811,275 -$113,843	$1,374,732
18	$2,414,860	-$853,829 -$119,536	$1,441,495
19	$2,535,610	-$898,506 -$125,513	$1,511,591
20	$2,662,380	-$945,411 -$131,788	$1,585,181
21	$2,795,520	-$994,673 -$138,378	$1,662,469
22	$2,935,310	-$1,046,395 -$145,298	$1,743,617
23	$3,082,030	-$1,100,681 -$152,560	$1,828,789
24	$3,236,170	-$1,157,713 -$160,190	$1,918,267
25	$3,397,940	-$1,217,568 -$168,198	$2,012,174
26	$3,567,900	-$1,280,453 -$176,611	$2,110,836
27	$3,746,260	-$1,346,447 -$185,440	$2,214,373
28	$3,933,580	-$1,415,755 -$194,712	$2,323,113
29	$4,130,280	-$1,488,534 -$204,449	$2,437,297
30	$4,336,780	-$1,564,939 -$214,671	$2,557,170