The jackpot for the MEGA Millions draw on Tue Jun 24, 2025, is projected to be $326 Million, with an option for a cash payout of $145.7 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Illinois residents, the state will deduct 4.95% from your lottery earnings.
| Illinois MEGA Millions Jackpot/Cash Option for Tue Jun 24, 2025 |
|---|
| Draw Date | Tue Jun 24, 2025 | | Projected Jackpot | $326,000,000 | | Cash Value | $145,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,700,000 | | Federal Tax(24%) | $34,968,000 | | Additional Federal Tax | $18,901,330 | | State Tax(4.95%) | $7,212,150 | | Net Lumpsum Payment | $84,618,520 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,906,626 |
$1,775,782
$242,878 |
$2,887,966 |
| 2 |
$5,152,104 |
$1,866,609
$255,029 |
$3,030,466 |
| 3 |
$5,409,644 |
$1,961,899
$267,777 |
$3,179,968 |
| 4 |
$5,680,224 |
$2,062,013
$281,171 |
$3,337,040 |
| 5 |
$5,964,170 |
$2,167,073
$295,226 |
$3,501,871 |
| 6 |
$6,262,460 |
$2,277,441
$309,992 |
$3,675,027 |
| 7 |
$6,575,420 |
$2,393,236
$325,483 |
$3,856,701 |
| 8 |
$6,904,354 |
$2,514,941
$341,766 |
$4,047,647 |
| 9 |
$7,249,588 |
$2,642,678
$358,855 |
$4,248,055 |
| 10 |
$7,612,100 |
$2,776,807
$376,799 |
$4,458,494 |
| 11 |
$7,992,542 |
$2,917,571
$395,631 |
$4,679,340 |
| 12 |
$8,392,218 |
$3,065,451
$415,415 |
$4,911,352 |
| 13 |
$8,811,780 |
$3,220,689
$436,183 |
$5,154,908 |
| 14 |
$9,252,532 |
$3,383,767
$458,000 |
$5,410,765 |
| 15 |
$9,715,126 |
$3,554,927
$480,899 |
$5,679,300 |
| 16 |
$10,200,866 |
$3,734,651
$504,943 |
$5,961,272 |
| 17 |
$10,710,730 |
$3,923,300
$530,181 |
$6,257,249 |
| 18 |
$11,246,348 |
$4,121,479
$556,694 |
$6,568,175 |
| 19 |
$11,808,698 |
$4,329,549
$584,531 |
$6,894,618 |
| 20 |
$12,399,084 |
$4,547,991
$613,755 |
$7,237,338 |
| 21 |
$13,019,136 |
$4,777,411
$644,447 |
$7,597,278 |
| 22 |
$13,670,158 |
$5,018,289
$676,673 |
$7,975,196 |
| 23 |
$14,353,454 |
$5,271,108
$710,496 |
$8,371,850 |
| 24 |
$15,071,306 |
$5,536,714
$746,030 |
$8,788,562 |
| 25 |
$15,824,692 |
$5,815,466
$783,322 |
$9,225,904 |
| 26 |
$16,616,220 |
$6,108,332
$822,503 |
$9,685,385 |
| 27 |
$17,446,868 |
$6,415,672
$863,620 |
$10,167,576 |
| 28 |
$18,319,244 |
$6,738,451
$906,803 |
$10,673,990 |
| 29 |
$19,235,304 |
$7,077,393
$952,148 |
$11,205,763 |
| 30 |
$20,197,004 |
$7,433,222
$999,752 |
$11,764,030 |
|
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