The jackpot for the MEGA Millions draw on Fri Jan 2, 2026, is projected to be $157 Million, with an option for a cash payout of $72 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 Jan 2, 2026 |
|---|
| Draw Date | Fri Jan 2, 2026 | | Projected Jackpot | $157,000,000 | | Cash Value | $72,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $72,000,000 | | Federal Tax(24%) | $17,280,000 | | Additional Federal Tax | $9,320,330 | | State Tax(4.95%) | $3,564,000 | | Net Lumpsum Payment | $41,835,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,363,007 |
$834,643
$116,969 |
$1,411,395 |
| 2 |
$2,481,228 |
$878,385
$122,821 |
$1,480,022 |
| 3 |
$2,605,258 |
$924,276
$128,960 |
$1,552,022 |
| 4 |
$2,735,568 |
$972,491
$135,411 |
$1,627,666 |
| 5 |
$2,872,315 |
$1,023,087
$142,180 |
$1,707,048 |
| 6 |
$3,015,970 |
$1,076,239
$149,291 |
$1,790,440 |
| 7 |
$3,166,690 |
$1,132,006
$156,751 |
$1,877,933 |
| 8 |
$3,325,103 |
$1,190,618
$164,593 |
$1,969,892 |
| 9 |
$3,491,366 |
$1,252,136
$172,823 |
$2,066,407 |
| 10 |
$3,665,950 |
$1,316,732
$181,465 |
$2,167,753 |
| 11 |
$3,849,169 |
$1,384,523
$190,534 |
$2,274,112 |
| 12 |
$4,041,651 |
$1,455,741
$200,062 |
$2,385,848 |
| 13 |
$4,243,710 |
$1,530,503
$210,064 |
$2,503,143 |
| 14 |
$4,455,974 |
$1,609,041
$220,571 |
$2,626,362 |
| 15 |
$4,678,757 |
$1,691,470
$231,598 |
$2,755,689 |
| 16 |
$4,912,687 |
$1,778,025
$243,178 |
$2,891,484 |
| 17 |
$5,158,235 |
$1,868,877
$255,333 |
$3,034,025 |
| 18 |
$5,416,186 |
$1,964,319
$268,101 |
$3,183,766 |
| 19 |
$5,687,011 |
$2,064,524
$281,507 |
$3,340,980 |
| 20 |
$5,971,338 |
$2,169,725
$295,581 |
$3,506,032 |
| 21 |
$6,269,952 |
$2,280,213
$310,363 |
$3,679,376 |
| 22 |
$6,583,481 |
$2,396,218
$325,882 |
$3,861,381 |
| 23 |
$6,912,553 |
$2,517,975
$342,171 |
$4,052,407 |
| 24 |
$7,258,267 |
$2,645,889
$359,284 |
$4,253,094 |
| 25 |
$7,621,094 |
$2,780,135
$377,244 |
$4,463,715 |
| 26 |
$8,002,290 |
$2,921,178
$396,113 |
$4,684,999 |
| 27 |
$8,402,326 |
$3,069,191
$415,915 |
$4,917,220 |
| 28 |
$8,822,458 |
$3,224,640
$436,712 |
$5,161,106 |
| 29 |
$9,263,628 |
$3,387,873
$458,550 |
$5,417,205 |
| 30 |
$9,726,778 |
$3,559,238
$481,476 |
$5,686,064 |
|
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