The jackpot for the MEGA Millions draw on Fri Aug 8, 2025, is projected to be $166 Million, with an option for a cash payout of $75.2 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 Aug 8, 2025 |
|---|
| Draw Date | Fri Aug 8, 2025 | | Projected Jackpot | $166,000,000 | | Cash Value | $75,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $75,200,000 | | Federal Tax(24%) | $18,048,000 | | Additional Federal Tax | $9,736,330 | | State Tax(4.95%) | $3,722,400 | | Net Lumpsum Payment | $43,693,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,498,466 |
$884,763
$123,674 |
$1,490,029 |
| 2 |
$2,623,464 |
$931,012
$129,861 |
$1,562,591 |
| 3 |
$2,754,604 |
$979,534
$136,353 |
$1,638,717 |
| 4 |
$2,892,384 |
$1,030,512
$143,173 |
$1,718,699 |
| 5 |
$3,036,970 |
$1,084,009
$150,330 |
$1,802,631 |
| 6 |
$3,188,860 |
$1,140,209
$157,849 |
$1,890,802 |
| 7 |
$3,348,220 |
$1,199,172
$165,737 |
$1,983,311 |
| 8 |
$3,515,714 |
$1,261,145
$174,028 |
$2,080,541 |
| 9 |
$3,691,508 |
$1,326,188
$182,730 |
$2,182,590 |
| 10 |
$3,876,100 |
$1,394,487
$191,867 |
$2,289,746 |
| 11 |
$4,069,822 |
$1,466,165
$201,456 |
$2,402,201 |
| 12 |
$4,273,338 |
$1,541,465
$211,530 |
$2,520,343 |
| 13 |
$4,486,980 |
$1,620,513
$222,106 |
$2,644,361 |
| 14 |
$4,711,412 |
$1,703,553
$233,215 |
$2,774,644 |
| 15 |
$4,946,966 |
$1,790,708
$244,875 |
$2,911,383 |
| 16 |
$5,194,306 |
$1,882,224
$257,118 |
$3,054,964 |
| 17 |
$5,453,930 |
$1,978,284
$269,970 |
$3,205,676 |
| 18 |
$5,726,668 |
$2,079,198
$283,470 |
$3,364,000 |
| 19 |
$6,013,018 |
$2,185,147
$297,644 |
$3,530,227 |
| 20 |
$6,313,644 |
$2,296,379
$312,525 |
$3,704,740 |
| 21 |
$6,629,376 |
$2,413,200
$328,154 |
$3,888,022 |
| 22 |
$6,960,878 |
$2,535,855
$344,563 |
$4,080,460 |
| 23 |
$7,308,814 |
$2,664,592
$361,786 |
$4,282,436 |
| 24 |
$7,674,346 |
$2,799,838
$379,880 |
$4,494,628 |
| 25 |
$8,057,972 |
$2,941,780
$398,870 |
$4,717,322 |
| 26 |
$8,461,020 |
$3,090,908
$418,820 |
$4,951,292 |
| 27 |
$8,883,988 |
$3,247,406
$439,757 |
$5,196,825 |
| 28 |
$9,328,204 |
$3,411,766
$461,746 |
$5,454,692 |
| 29 |
$9,794,664 |
$3,584,356
$484,836 |
$5,725,472 |
| 30 |
$10,284,364 |
$3,765,545
$509,076 |
$6,009,743 |
|
|
