The jackpot for the MEGA Millions draw on Fri Jul 24, 2026, is projected to be $743 Million, with an option for a cash payout of $323.4 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 Fri Jul 24, 2026 |
|---|
| Draw Date | Fri Jul 24, 2026 | | Projected Jackpot | $743,000,000 | | Cash Value | $323,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $323,400,000 | | Federal Tax(24%) | $77,616,000 | | Additional Federal Tax | $42,002,330 | | State Tax(4.95%) | $16,008,300 | | Net Lumpsum Payment | $187,773,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,182,893 |
$4,098,001
$553,553 |
$6,531,339 |
| 2 |
$11,742,372 |
$4,305,008
$581,247 |
$6,856,117 |
| 3 |
$12,329,342 |
$4,522,187
$610,302 |
$7,196,853 |
| 4 |
$12,946,032 |
$4,750,362
$640,829 |
$7,554,841 |
| 5 |
$13,593,185 |
$4,989,809
$672,863 |
$7,930,513 |
| 6 |
$14,273,030 |
$5,241,351
$706,515 |
$8,325,164 |
| 7 |
$14,986,310 |
$5,505,265
$741,822 |
$8,739,223 |
| 8 |
$15,735,997 |
$5,782,649
$778,932 |
$9,174,416 |
| 9 |
$16,522,834 |
$6,073,779
$817,880 |
$9,631,175 |
| 10 |
$17,349,050 |
$6,379,479
$858,778 |
$10,110,793 |
| 11 |
$18,216,131 |
$6,700,299
$901,698 |
$10,614,134 |
| 12 |
$19,127,049 |
$7,037,339
$946,789 |
$11,142,921 |
| 13 |
$20,083,290 |
$7,391,148
$994,123 |
$11,698,019 |
| 14 |
$21,087,826 |
$7,762,826
$1,043,847 |
$12,281,153 |
| 15 |
$22,142,143 |
$8,152,923
$1,096,036 |
$12,893,184 |
| 16 |
$23,249,213 |
$8,562,539
$1,150,836 |
$13,535,838 |
| 17 |
$24,411,265 |
$8,992,498
$1,208,358 |
$14,210,409 |
| 18 |
$25,632,014 |
$9,444,176
$1,268,785 |
$14,919,053 |
| 19 |
$26,913,689 |
$9,918,395
$1,332,228 |
$15,663,066 |
| 20 |
$28,259,262 |
$10,416,257
$1,398,833 |
$16,444,172 |
| 21 |
$29,672,448 |
$10,939,136
$1,468,786 |
$17,264,526 |
| 22 |
$31,156,219 |
$11,488,131
$1,542,233 |
$18,125,855 |
| 23 |
$32,713,547 |
$12,064,343
$1,619,321 |
$19,029,883 |
| 24 |
$34,349,633 |
$12,669,695
$1,700,307 |
$19,979,631 |
| 25 |
$36,066,706 |
$13,305,012
$1,785,302 |
$20,976,392 |
| 26 |
$37,870,710 |
$13,972,493
$1,874,600 |
$22,023,617 |
| 27 |
$39,763,874 |
$14,672,964
$1,968,312 |
$23,122,598 |
| 28 |
$41,752,142 |
$15,408,623
$2,066,731 |
$24,276,788 |
| 29 |
$43,839,972 |
$16,181,120
$2,170,079 |
$25,488,773 |
| 30 |
$46,031,822 |
$16,992,105
$2,278,575 |
$26,761,142 |
|
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