The jackpot for the MEGA Millions draw on Fri Nov 22, 2024, is projected to be $453 Million, with an option for a cash payout of $209.6 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 Nov 22, 2024 |
|---|
| Draw Date | Fri Nov 22, 2024 | | Projected Jackpot | $453,000,000 | | Cash Value | $209,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $209,600,000 | | Federal Tax(24%) | $50,304,000 | | Additional Federal Tax | $27,208,330 | | State Tax(4.95%) | $10,375,200 | | Net Lumpsum Payment | $121,712,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$337,496 |
$3,997,579 |
| 2 |
$7,159,212 |
$2,609,239
$354,381 |
$4,195,592 |
| 3 |
$7,517,082 |
$2,741,651
$372,096 |
$4,403,335 |
| 4 |
$7,893,072 |
$2,880,767
$390,707 |
$4,621,598 |
| 5 |
$8,287,635 |
$3,026,755
$410,238 |
$4,850,642 |
| 6 |
$8,702,130 |
$3,180,118
$430,755 |
$5,091,257 |
| 7 |
$9,137,010 |
$3,341,024
$452,282 |
$5,343,704 |
| 8 |
$9,594,087 |
$3,510,143
$474,907 |
$5,609,037 |
| 9 |
$10,073,814 |
$3,687,642
$498,654 |
$5,887,518 |
| 10 |
$10,577,550 |
$3,874,024
$523,589 |
$6,179,937 |
| 11 |
$11,106,201 |
$4,069,625
$549,757 |
$6,486,819 |
| 12 |
$11,661,579 |
$4,275,115
$577,248 |
$6,809,216 |
| 13 |
$12,244,590 |
$4,490,829
$606,107 |
$7,147,654 |
| 14 |
$12,857,046 |
$4,717,437
$636,424 |
$7,503,185 |
| 15 |
$13,499,853 |
$4,955,276
$668,243 |
$7,876,334 |
| 16 |
$14,174,823 |
$5,205,015
$701,654 |
$8,268,154 |
| 17 |
$14,883,315 |
$5,467,157
$736,724 |
$8,679,434 |
| 18 |
$15,627,594 |
$5,742,540
$773,566 |
$9,111,488 |
| 19 |
$16,409,019 |
$6,031,667
$812,246 |
$9,565,106 |
| 20 |
$17,229,402 |
$6,335,209
$852,855 |
$10,041,338 |
| 21 |
$18,091,008 |
$6,654,003
$895,505 |
$10,541,500 |
| 22 |
$18,995,649 |
$6,988,721
$940,285 |
$11,066,643 |
| 23 |
$19,945,137 |
$7,340,031
$987,284 |
$11,617,822 |
| 24 |
$20,942,643 |
$7,709,108
$1,036,661 |
$12,196,874 |
| 25 |
$21,989,526 |
$8,096,455
$1,088,482 |
$12,804,589 |
| 26 |
$23,089,410 |
$8,503,412
$1,142,926 |
$13,443,072 |
| 27 |
$24,243,654 |
$8,930,482
$1,200,061 |
$14,113,111 |
| 28 |
$25,455,882 |
$9,379,007
$1,260,066 |
$14,816,809 |
| 29 |
$26,728,812 |
$9,849,991
$1,323,076 |
$15,555,745 |
| 30 |
$28,065,162 |
$10,344,440
$1,389,226 |
$16,331,496 |
|
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