The jackpot for the MEGA Millions draw on Tue May 20, 2025, is projected to be $139 Million, with an option for a cash payout of $62.3 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 May 20, 2025 |
|---|
| Draw Date | Tue May 20, 2025 | | Projected Jackpot | $139,000,000 | | Cash Value | $62,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $62,300,000 | | Federal Tax(24%) | $14,952,000 | | Additional Federal Tax | $8,059,330 | | State Tax(4.95%) | $3,083,850 | | Net Lumpsum Payment | $36,204,820 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,092,089 |
$734,403
$103,558 |
$1,254,128 |
| 2 |
$2,196,756 |
$773,130
$108,739 |
$1,314,887 |
| 3 |
$2,306,566 |
$813,760
$114,175 |
$1,378,631 |
| 4 |
$2,421,936 |
$856,447
$119,886 |
$1,445,603 |
| 5 |
$2,543,005 |
$901,242
$125,879 |
$1,515,884 |
| 6 |
$2,670,190 |
$948,301
$132,174 |
$1,589,715 |
| 7 |
$2,803,630 |
$997,673
$138,780 |
$1,667,177 |
| 8 |
$2,943,881 |
$1,049,566
$145,722 |
$1,748,593 |
| 9 |
$3,091,082 |
$1,104,031
$153,009 |
$1,834,042 |
| 10 |
$3,245,650 |
$1,161,221
$160,660 |
$1,923,769 |
| 11 |
$3,407,863 |
$1,221,240
$168,689 |
$2,017,934 |
| 12 |
$3,578,277 |
$1,284,293
$177,125 |
$2,116,859 |
| 13 |
$3,757,170 |
$1,350,483
$185,980 |
$2,220,707 |
| 14 |
$3,945,098 |
$1,420,017
$195,282 |
$2,329,799 |
| 15 |
$4,142,339 |
$1,492,996
$205,046 |
$2,444,297 |
| 16 |
$4,349,449 |
$1,569,627
$215,298 |
$2,564,524 |
| 17 |
$4,566,845 |
$1,650,063
$226,059 |
$2,690,723 |
| 18 |
$4,795,222 |
$1,734,563
$237,363 |
$2,823,296 |
| 19 |
$5,034,997 |
$1,823,279
$249,232 |
$2,962,486 |
| 20 |
$5,286,726 |
$1,916,419
$261,693 |
$3,108,614 |
| 21 |
$5,551,104 |
$2,014,239
$274,780 |
$3,262,085 |
| 22 |
$5,828,687 |
$2,116,945
$288,520 |
$3,423,222 |
| 23 |
$6,120,031 |
$2,224,742
$302,942 |
$3,592,347 |
| 24 |
$6,426,109 |
$2,337,991
$318,092 |
$3,770,026 |
| 25 |
$6,747,338 |
$2,456,845
$333,993 |
$3,956,500 |
| 26 |
$7,084,830 |
$2,581,717
$350,699 |
$4,152,414 |
| 27 |
$7,439,002 |
$2,712,761
$368,231 |
$4,358,010 |
| 28 |
$7,810,966 |
$2,850,388
$386,643 |
$4,573,935 |
| 29 |
$8,201,556 |
$2,994,906
$405,977 |
$4,800,673 |
| 30 |
$8,611,606 |
$3,146,625
$426,274 |
$5,038,707 |
|
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