The jackpot for the MEGA Millions draw on Fri Aug 15, 2025, is projected to be $198 Million, with an option for a cash payout of $89.3 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 Aug 15, 2025 |
|---|
| Draw Date | Fri Aug 15, 2025 | | Projected Jackpot | $198,000,000 | | Cash Value | $89,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $89,300,000 | | Federal Tax(24%) | $21,432,000 | | Additional Federal Tax | $11,569,330 | | State Tax(4.95%) | $4,420,350 | | Net Lumpsum Payment | $51,878,320 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,980,098 |
$1,062,967
$147,515 |
$1,769,616 |
| 2 |
$3,129,192 |
$1,118,131
$154,895 |
$1,856,166 |
| 3 |
$3,285,612 |
$1,176,007
$162,638 |
$1,946,967 |
| 4 |
$3,449,952 |
$1,236,813
$170,773 |
$2,042,366 |
| 5 |
$3,622,410 |
$1,300,622
$179,309 |
$2,142,479 |
| 6 |
$3,803,580 |
$1,367,655
$188,277 |
$2,247,648 |
| 7 |
$3,993,660 |
$1,437,985
$197,686 |
$2,357,989 |
| 8 |
$4,193,442 |
$1,511,904
$207,575 |
$2,473,963 |
| 9 |
$4,403,124 |
$1,589,486
$217,955 |
$2,595,683 |
| 10 |
$4,623,300 |
$1,670,951
$228,853 |
$2,723,496 |
| 11 |
$4,854,366 |
$1,756,446
$240,291 |
$2,857,629 |
| 12 |
$5,097,114 |
$1,846,263
$252,307 |
$2,998,544 |
| 13 |
$5,351,940 |
$1,940,548
$264,921 |
$3,146,471 |
| 14 |
$5,619,636 |
$2,039,596
$278,172 |
$3,301,868 |
| 15 |
$5,900,598 |
$2,143,552
$292,080 |
$3,464,966 |
| 16 |
$6,195,618 |
$2,252,709
$306,683 |
$3,636,226 |
| 17 |
$6,505,290 |
$2,367,288
$322,012 |
$3,815,990 |
| 18 |
$6,830,604 |
$2,487,654
$338,115 |
$4,004,835 |
| 19 |
$7,172,154 |
$2,614,027
$355,022 |
$4,203,105 |
| 20 |
$7,530,732 |
$2,746,701
$372,771 |
$4,411,260 |
| 21 |
$7,907,328 |
$2,886,042
$391,413 |
$4,629,873 |
| 22 |
$8,302,734 |
$3,032,342
$410,985 |
$4,859,407 |
| 23 |
$8,717,742 |
$3,185,895
$431,528 |
$5,100,319 |
| 24 |
$9,153,738 |
$3,347,213
$453,110 |
$5,353,415 |
| 25 |
$9,611,316 |
$3,516,517
$475,760 |
$5,619,039 |
| 26 |
$10,092,060 |
$3,694,393
$499,557 |
$5,898,110 |
| 27 |
$10,596,564 |
$3,881,059
$524,530 |
$6,190,975 |
| 28 |
$11,126,412 |
$4,077,103
$550,757 |
$6,498,552 |
| 29 |
$11,682,792 |
$4,282,963
$578,298 |
$6,821,531 |
| 30 |
$12,266,892 |
$4,499,080
$607,211 |
$7,160,601 |
|
|
