The jackpot for the MEGA Millions draw on Fri May 15, 2026, is projected to be $251 Million, with an option for a cash payout of $112.3 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 Fri May 15, 2026 |
|---|
| Draw Date | Fri May 15, 2026 | | Projected Jackpot | $251,000,000 | | Cash Value | $112,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $112,300,000 | | Federal Tax(24%) | $26,952,000 | | Additional Federal Tax | $14,559,330 | | State Tax(4.95%) | $5,558,850 | | Net Lumpsum Payment | $65,229,820 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,777,801 |
$1,358,117
$187,001 |
$2,232,683 |
| 2 |
$3,966,804 |
$1,428,048
$196,357 |
$2,342,399 |
| 3 |
$4,165,094 |
$1,501,415
$206,172 |
$2,457,507 |
| 4 |
$4,373,424 |
$1,578,497
$216,484 |
$2,578,443 |
| 5 |
$4,592,045 |
$1,659,387
$227,306 |
$2,705,352 |
| 6 |
$4,821,710 |
$1,744,363
$238,675 |
$2,838,672 |
| 7 |
$5,062,670 |
$1,833,518
$250,602 |
$2,978,550 |
| 8 |
$5,315,929 |
$1,927,224
$263,138 |
$3,125,567 |
| 9 |
$5,581,738 |
$2,025,573
$276,296 |
$3,279,869 |
| 10 |
$5,860,850 |
$2,128,845
$290,112 |
$3,441,893 |
| 11 |
$6,153,767 |
$2,237,224
$304,611 |
$3,611,932 |
| 12 |
$6,461,493 |
$2,351,083
$319,844 |
$3,790,566 |
| 13 |
$6,784,530 |
$2,470,606
$335,834 |
$3,978,090 |
| 14 |
$7,123,882 |
$2,596,167
$352,632 |
$4,175,083 |
| 15 |
$7,480,051 |
$2,727,949
$370,263 |
$4,381,839 |
| 16 |
$7,854,041 |
$2,866,326
$388,775 |
$4,598,940 |
| 17 |
$8,246,605 |
$3,011,574
$408,207 |
$4,826,824 |
| 18 |
$8,658,998 |
$3,164,160
$428,620 |
$5,066,218 |
| 19 |
$9,091,973 |
$3,324,360
$450,053 |
$5,317,560 |
| 20 |
$9,546,534 |
$3,492,548
$472,553 |
$5,581,433 |
| 21 |
$10,023,936 |
$3,669,187
$496,185 |
$5,858,564 |
| 22 |
$10,525,183 |
$3,854,648
$520,997 |
$6,149,538 |
| 23 |
$11,051,279 |
$4,049,304
$547,038 |
$6,454,937 |
| 24 |
$11,603,981 |
$4,253,803
$574,397 |
$6,775,781 |
| 25 |
$12,184,042 |
$4,468,426
$603,110 |
$7,112,506 |
| 26 |
$12,793,470 |
$4,693,914
$633,277 |
$7,466,279 |
| 27 |
$13,433,018 |
$4,930,547
$664,934 |
$7,837,537 |
| 28 |
$14,104,694 |
$5,179,067
$698,182 |
$8,227,445 |
| 29 |
$14,810,004 |
$5,440,032
$733,095 |
$8,636,877 |
| 30 |
$15,550,454 |
$5,713,998
$769,747 |
$9,066,709 |
|
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