The jackpot for the MEGA Millions draw on Tue Feb 24, 2026, is projected to be $438 Million, with an option for a cash payout of $203.1 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 24, 2026 |
|---|
| Draw Date | Tue Feb 24, 2026 | | Projected Jackpot | $438,000,000 | | Cash Value | $203,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $203,100,000 | | Federal Tax(24%) | $48,744,000 | | Additional Federal Tax | $26,363,330 | | State Tax(4.95%) | $10,053,450 | | Net Lumpsum Payment | $117,939,220 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,592,338 |
$2,399,495
$326,321 |
$3,866,522 |
| 2 |
$6,922,152 |
$2,521,527
$342,647 |
$4,057,978 |
| 3 |
$7,268,172 |
$2,649,554
$359,775 |
$4,258,843 |
| 4 |
$7,631,712 |
$2,784,064
$377,770 |
$4,469,878 |
| 5 |
$8,013,210 |
$2,925,218
$396,654 |
$4,691,338 |
| 6 |
$8,413,980 |
$3,073,503
$416,492 |
$4,923,985 |
| 7 |
$8,834,460 |
$3,229,081
$437,306 |
$5,168,073 |
| 8 |
$9,276,402 |
$3,392,599
$459,182 |
$5,424,621 |
| 9 |
$9,740,244 |
$3,564,221
$482,142 |
$5,693,881 |
| 10 |
$10,227,300 |
$3,744,431
$506,251 |
$5,976,618 |
| 11 |
$10,738,446 |
$3,933,555
$531,553 |
$6,273,338 |
| 12 |
$11,275,434 |
$4,132,241
$558,134 |
$6,585,059 |
| 13 |
$11,839,140 |
$4,340,812
$586,037 |
$6,912,291 |
| 14 |
$12,431,316 |
$4,559,917
$615,350 |
$7,256,049 |
| 15 |
$13,052,838 |
$4,789,880
$646,115 |
$7,616,843 |
| 16 |
$13,705,458 |
$5,031,350
$678,420 |
$7,995,688 |
| 17 |
$14,390,490 |
$5,284,812
$712,329 |
$8,393,349 |
| 18 |
$15,110,124 |
$5,551,076
$747,951 |
$8,811,097 |
| 19 |
$15,865,674 |
$5,830,630
$785,351 |
$9,249,693 |
| 20 |
$16,658,892 |
$6,124,120
$824,615 |
$9,710,157 |
| 21 |
$17,491,968 |
$6,432,359
$865,852 |
$10,193,757 |
| 22 |
$18,366,654 |
$6,755,992
$909,149 |
$10,701,513 |
| 23 |
$19,284,702 |
$7,095,670
$954,593 |
$11,234,439 |
| 24 |
$20,249,178 |
$7,452,526
$1,002,334 |
$11,794,318 |
| 25 |
$21,261,396 |
$7,827,047
$1,052,439 |
$12,381,910 |
| 26 |
$22,324,860 |
$8,220,529
$1,105,081 |
$12,999,250 |
| 27 |
$23,440,884 |
$8,633,457
$1,160,324 |
$13,647,103 |
| 28 |
$24,612,972 |
$9,067,130
$1,218,342 |
$14,327,500 |
| 29 |
$25,843,752 |
$9,522,519
$1,279,266 |
$15,041,967 |
| 30 |
$27,135,852 |
$10,000,596
$1,343,225 |
$15,792,031 |
|
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