The jackpot for the MEGA Millions draw on Tue Feb 3, 2026, is projected to be $323 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 Feb 3, 2026 |
|---|
| Draw Date | Tue Feb 3, 2026 | | Projected Jackpot | $323,000,000 | | 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 |
$4,861,473 |
$1,759,075
$240,643 |
$2,861,755 |
| 2 |
$5,104,692 |
$1,849,066
$252,682 |
$3,002,944 |
| 3 |
$5,359,862 |
$1,943,479
$265,313 |
$3,151,070 |
| 4 |
$5,627,952 |
$2,042,673
$278,584 |
$3,306,695 |
| 5 |
$5,909,285 |
$2,146,766
$292,510 |
$3,470,009 |
| 6 |
$6,204,830 |
$2,256,117
$307,139 |
$3,641,574 |
| 7 |
$6,514,910 |
$2,370,847
$322,488 |
$3,821,575 |
| 8 |
$6,840,817 |
$2,491,433
$338,620 |
$4,010,764 |
| 9 |
$7,182,874 |
$2,617,994
$355,552 |
$4,209,328 |
| 10 |
$7,542,050 |
$2,750,889
$373,331 |
$4,417,830 |
| 11 |
$7,918,991 |
$2,890,357
$391,990 |
$4,636,644 |
| 12 |
$8,314,989 |
$3,036,876
$411,592 |
$4,866,521 |
| 13 |
$8,730,690 |
$3,190,686
$432,169 |
$5,107,835 |
| 14 |
$9,167,386 |
$3,352,263
$453,786 |
$5,361,337 |
| 15 |
$9,625,723 |
$3,521,848
$476,473 |
$5,627,402 |
| 16 |
$10,106,993 |
$3,699,918
$500,296 |
$5,906,779 |
| 17 |
$10,612,165 |
$3,886,831
$525,302 |
$6,200,032 |
| 18 |
$11,142,854 |
$4,083,186
$551,571 |
$6,508,097 |
| 19 |
$11,700,029 |
$4,289,341
$579,151 |
$6,831,537 |
| 20 |
$12,284,982 |
$4,505,774
$608,107 |
$7,171,101 |
| 21 |
$12,899,328 |
$4,733,082
$638,517 |
$7,527,729 |
| 22 |
$13,544,359 |
$4,971,743
$670,446 |
$7,902,170 |
| 23 |
$14,221,367 |
$5,222,236
$703,958 |
$8,295,173 |
| 24 |
$14,932,613 |
$5,485,397
$739,164 |
$8,708,052 |
| 25 |
$15,679,066 |
$5,761,585
$776,114 |
$9,141,367 |
| 26 |
$16,463,310 |
$6,051,755
$814,934 |
$9,596,621 |
| 27 |
$17,286,314 |
$6,356,267
$855,673 |
$10,074,374 |
| 28 |
$18,150,662 |
$6,676,075
$898,458 |
$10,576,129 |
| 29 |
$19,058,292 |
$7,011,898
$943,385 |
$11,103,009 |
| 30 |
$20,011,142 |
$7,364,453
$990,552 |
$11,656,137 |
|
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