The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Tue Apr 1, 2025 |
|---|
| Draw Date | Tue Apr 1, 2025 | | Projected Jackpot | $29,000,000 | | Cash Value | $13,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,300,000 | | Federal Tax(24%) | $3,192,000 | | Additional Federal Tax | $1,689,330 | | State Tax(4.95%) | $658,350 | | Net Lumpsum Payment | $7,760,320 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$436,479 |
$121,828
$21,606 |
$293,045 |
| 2 |
$458,316 |
$129,907
$22,687 |
$305,722 |
| 3 |
$481,226 |
$138,384
$23,821 |
$319,021 |
| 4 |
$505,296 |
$147,290
$25,012 |
$332,994 |
| 5 |
$530,555 |
$156,636
$26,262 |
$347,657 |
| 6 |
$557,090 |
$166,454
$27,576 |
$363,060 |
| 7 |
$584,930 |
$176,754
$28,954 |
$379,222 |
| 8 |
$614,191 |
$187,581
$30,402 |
$396,208 |
| 9 |
$644,902 |
$198,944
$31,923 |
$414,035 |
| 10 |
$677,150 |
$210,876
$33,519 |
$432,755 |
| 11 |
$710,993 |
$223,398
$35,194 |
$452,401 |
| 12 |
$746,547 |
$236,553
$36,954 |
$473,040 |
| 13 |
$783,870 |
$250,362
$38,802 |
$494,706 |
| 14 |
$823,078 |
$264,869
$40,742 |
$517,467 |
| 15 |
$864,229 |
$280,095
$42,779 |
$541,355 |
| 16 |
$907,439 |
$296,083
$44,918 |
$566,438 |
| 17 |
$952,795 |
$312,865
$47,163 |
$592,767 |
| 18 |
$1,000,442 |
$330,494
$49,522 |
$620,426 |
| 19 |
$1,050,467 |
$349,003
$51,998 |
$649,466 |
| 20 |
$1,102,986 |
$368,435
$54,598 |
$679,953 |
| 21 |
$1,158,144 |
$388,844
$57,328 |
$711,972 |
| 22 |
$1,216,057 |
$410,271
$60,195 |
$745,591 |
| 23 |
$1,276,841 |
$432,762
$63,204 |
$780,875 |
| 24 |
$1,340,699 |
$456,389
$66,365 |
$817,945 |
| 25 |
$1,407,718 |
$481,186
$69,682 |
$856,850 |
| 26 |
$1,478,130 |
$507,238
$73,167 |
$897,725 |
| 27 |
$1,552,022 |
$534,579
$76,825 |
$940,618 |
| 28 |
$1,629,626 |
$563,292
$80,666 |
$985,668 |
| 29 |
$1,711,116 |
$593,443
$84,700 |
$1,032,973 |
| 30 |
$1,796,666 |
$625,097
$88,935 |
$1,082,634 |
|
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