The jackpot for the MEGA Millions draw on Tue Mar 4, 2025, is projected to be $215 Million, with an option for a cash payout of $100.9 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 Mar 4, 2025 |
|---|
| Draw Date | Tue Mar 4, 2025 | | Projected Jackpot | $215,000,000 | | Cash Value | $100,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $100,900,000 | | Federal Tax(24%) | $24,216,000 | | Additional Federal Tax | $13,077,330 | | State Tax(4.95%) | $4,994,550 | | Net Lumpsum Payment | $58,612,120 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,235,965 |
$1,157,637
$160,180 |
$1,918,148 |
| 2 |
$3,397,860 |
$1,217,539
$168,194 |
$2,012,127 |
| 3 |
$3,567,710 |
$1,280,383
$176,602 |
$2,110,725 |
| 4 |
$3,746,160 |
$1,346,410
$185,435 |
$2,214,315 |
| 5 |
$3,933,425 |
$1,415,698
$194,705 |
$2,323,022 |
| 6 |
$4,130,150 |
$1,488,486
$204,442 |
$2,437,222 |
| 7 |
$4,336,550 |
$1,564,854
$214,659 |
$2,557,037 |
| 8 |
$4,553,485 |
$1,645,120
$225,398 |
$2,682,967 |
| 9 |
$4,781,170 |
$1,729,363
$236,668 |
$2,815,139 |
| 10 |
$5,020,250 |
$1,817,823
$248,502 |
$2,953,925 |
| 11 |
$5,271,155 |
$1,910,658
$260,922 |
$3,099,575 |
| 12 |
$5,534,745 |
$2,008,186
$273,970 |
$3,252,589 |
| 13 |
$5,811,450 |
$2,110,567
$287,667 |
$3,413,216 |
| 14 |
$6,102,130 |
$2,218,118
$302,055 |
$3,581,957 |
| 15 |
$6,407,215 |
$2,331,000
$317,157 |
$3,759,058 |
| 16 |
$6,727,565 |
$2,449,529
$333,014 |
$3,945,022 |
| 17 |
$7,063,825 |
$2,573,946
$349,659 |
$4,140,220 |
| 18 |
$7,417,070 |
$2,704,646
$367,145 |
$4,345,279 |
| 19 |
$7,787,945 |
$2,841,870
$385,503 |
$4,560,572 |
| 20 |
$8,177,310 |
$2,985,935
$404,777 |
$4,786,598 |
| 21 |
$8,586,240 |
$3,137,239
$425,019 |
$5,023,982 |
| 22 |
$9,015,595 |
$3,296,101
$446,272 |
$5,273,222 |
| 23 |
$9,466,235 |
$3,462,837
$468,579 |
$5,534,819 |
| 24 |
$9,939,665 |
$3,638,006
$492,013 |
$5,809,646 |
| 25 |
$10,436,530 |
$3,821,846
$516,608 |
$6,098,076 |
| 26 |
$10,958,550 |
$4,014,994
$542,448 |
$6,401,108 |
| 27 |
$11,506,370 |
$4,217,687
$569,565 |
$6,719,118 |
| 28 |
$12,081,710 |
$4,430,563
$598,045 |
$7,053,102 |
| 29 |
$12,685,860 |
$4,654,099
$627,950 |
$7,403,811 |
| 30 |
$13,320,110 |
$4,888,771
$659,345 |
$7,771,994 |
|
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