The jackpot for the MEGA Millions draw on Tue Jul 1, 2025, is projected to be $50 Million, with an option for a cash payout of $22.4 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 Jul 1, 2025 |
|---|
| Draw Date | Tue Jul 1, 2025 | | Projected Jackpot | $50,000,000 | | Cash Value | $22,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $22,400,000 | | Federal Tax(24%) | $5,376,000 | | Additional Federal Tax | $2,872,330 | | State Tax(4.95%) | $1,108,800 | | Net Lumpsum Payment | $13,042,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$752,550 |
$238,774
$37,251 |
$476,525 |
| 2 |
$790,200 |
$252,704
$39,115 |
$498,381 |
| 3 |
$829,700 |
$267,319
$41,070 |
$521,311 |
| 4 |
$871,200 |
$282,674
$43,124 |
$545,402 |
| 5 |
$914,750 |
$298,788
$45,280 |
$570,682 |
| 6 |
$960,500 |
$315,715
$47,545 |
$597,240 |
| 7 |
$1,008,500 |
$333,475
$49,921 |
$625,104 |
| 8 |
$1,058,950 |
$352,142
$52,418 |
$654,390 |
| 9 |
$1,111,900 |
$371,733
$55,039 |
$685,128 |
| 10 |
$1,167,500 |
$392,305
$57,791 |
$717,404 |
| 11 |
$1,225,850 |
$413,895
$60,680 |
$751,275 |
| 12 |
$1,287,150 |
$436,576
$63,714 |
$786,860 |
| 13 |
$1,351,500 |
$460,385
$66,899 |
$824,216 |
| 14 |
$1,419,100 |
$485,397
$70,245 |
$863,458 |
| 15 |
$1,490,050 |
$511,649
$73,757 |
$904,644 |
| 16 |
$1,564,550 |
$539,214
$77,445 |
$947,891 |
| 17 |
$1,642,750 |
$568,148
$81,316 |
$993,286 |
| 18 |
$1,724,900 |
$598,543
$85,383 |
$1,040,974 |
| 19 |
$1,811,150 |
$630,456
$89,652 |
$1,091,042 |
| 20 |
$1,901,700 |
$663,959
$94,134 |
$1,143,607 |
| 21 |
$1,996,800 |
$699,146
$98,842 |
$1,198,812 |
| 22 |
$2,096,650 |
$736,091
$103,784 |
$1,256,775 |
| 23 |
$2,201,450 |
$774,867
$108,972 |
$1,317,611 |
| 24 |
$2,311,550 |
$815,604
$114,422 |
$1,381,524 |
| 25 |
$2,427,100 |
$858,357
$120,141 |
$1,448,602 |
| 26 |
$2,548,500 |
$903,275
$126,151 |
$1,519,074 |
| 27 |
$2,675,900 |
$950,413
$132,457 |
$1,593,030 |
| 28 |
$2,809,700 |
$999,919
$139,080 |
$1,670,701 |
| 29 |
$2,950,200 |
$1,051,904
$146,035 |
$1,752,261 |
| 30 |
$3,097,700 |
$1,106,479
$153,336 |
$1,837,885 |
|
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