The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(4.95%) | $1,574,100 | | Net Lumpsum Payment | $18,499,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$52,152 |
$651,267 |
| 2 |
$1,106,280 |
$369,654
$54,761 |
$681,865 |
| 3 |
$1,161,580 |
$390,115
$57,498 |
$713,967 |
| 4 |
$1,219,680 |
$411,612
$60,374 |
$747,694 |
| 5 |
$1,280,650 |
$434,171
$63,392 |
$783,087 |
| 6 |
$1,344,700 |
$457,869
$66,563 |
$820,268 |
| 7 |
$1,411,900 |
$482,733
$69,889 |
$859,278 |
| 8 |
$1,482,530 |
$508,866
$73,385 |
$900,279 |
| 9 |
$1,556,660 |
$536,295
$77,055 |
$943,310 |
| 10 |
$1,634,500 |
$565,095
$80,908 |
$988,497 |
| 11 |
$1,716,190 |
$595,321
$84,951 |
$1,035,918 |
| 12 |
$1,802,010 |
$627,074
$89,199 |
$1,085,737 |
| 13 |
$1,892,100 |
$660,407
$93,659 |
$1,138,034 |
| 14 |
$1,986,740 |
$695,424
$98,344 |
$1,192,972 |
| 15 |
$2,086,070 |
$732,176
$103,260 |
$1,250,634 |
| 16 |
$2,190,370 |
$770,767
$108,423 |
$1,311,180 |
| 17 |
$2,299,850 |
$811,275
$113,843 |
$1,374,732 |
| 18 |
$2,414,860 |
$853,829
$119,536 |
$1,441,495 |
| 19 |
$2,535,610 |
$898,506
$125,513 |
$1,511,591 |
| 20 |
$2,662,380 |
$945,411
$131,788 |
$1,585,181 |
| 21 |
$2,795,520 |
$994,673
$138,378 |
$1,662,469 |
| 22 |
$2,935,310 |
$1,046,395
$145,298 |
$1,743,617 |
| 23 |
$3,082,030 |
$1,100,681
$152,560 |
$1,828,789 |
| 24 |
$3,236,170 |
$1,157,713
$160,190 |
$1,918,267 |
| 25 |
$3,397,940 |
$1,217,568
$168,198 |
$2,012,174 |
| 26 |
$3,567,900 |
$1,280,453
$176,611 |
$2,110,836 |
| 27 |
$3,746,260 |
$1,346,447
$185,440 |
$2,214,373 |
| 28 |
$3,933,580 |
$1,415,755
$194,712 |
$2,323,113 |
| 29 |
$4,130,280 |
$1,488,534
$204,449 |
$2,437,297 |
| 30 |
$4,336,780 |
$1,564,939
$214,671 |
$2,557,170 |
|
|
