The jackpot for the MEGA Millions draw on Fri May 1, 2026, is projected to be $178 Million, with an option for a cash payout of $79.6 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 May 1, 2026 |
|---|
| Draw Date | Fri May 1, 2026 | | Projected Jackpot | $178,000,000 | | Cash Value | $79,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,600,000 | | Federal Tax(24%) | $19,104,000 | | Additional Federal Tax | $10,308,330 | | State Tax(4.95%) | $3,940,200 | | Net Lumpsum Payment | $46,247,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,679,078 |
$951,589
$132,614 |
$1,594,875 |
| 2 |
$2,813,112 |
$1,001,182
$139,249 |
$1,672,681 |
| 3 |
$2,953,732 |
$1,053,211
$146,210 |
$1,754,311 |
| 4 |
$3,101,472 |
$1,107,875
$153,523 |
$1,840,074 |
| 5 |
$3,256,510 |
$1,165,239
$161,197 |
$1,930,074 |
| 6 |
$3,419,380 |
$1,225,501
$169,259 |
$2,024,620 |
| 7 |
$3,590,260 |
$1,288,727
$177,718 |
$2,123,815 |
| 8 |
$3,769,862 |
$1,355,179
$186,608 |
$2,228,075 |
| 9 |
$3,958,364 |
$1,424,925
$195,939 |
$2,337,500 |
| 10 |
$4,156,300 |
$1,498,161
$205,737 |
$2,452,402 |
| 11 |
$4,364,026 |
$1,575,020
$216,019 |
$2,572,987 |
| 12 |
$4,582,254 |
$1,655,764
$226,822 |
$2,699,668 |
| 13 |
$4,811,340 |
$1,740,526
$238,161 |
$2,832,653 |
| 14 |
$5,051,996 |
$1,829,569
$250,074 |
$2,972,353 |
| 15 |
$5,304,578 |
$1,923,024
$262,577 |
$3,118,977 |
| 16 |
$5,569,798 |
$2,021,156
$275,705 |
$3,272,937 |
| 17 |
$5,848,190 |
$2,124,161
$289,485 |
$3,434,544 |
| 18 |
$6,140,644 |
$2,232,369
$303,962 |
$3,604,313 |
| 19 |
$6,447,694 |
$2,345,977
$319,161 |
$3,782,556 |
| 20 |
$6,770,052 |
$2,465,250
$335,118 |
$3,969,684 |
| 21 |
$7,108,608 |
$2,590,515
$351,876 |
$4,166,217 |
| 22 |
$7,464,074 |
$2,722,038
$369,472 |
$4,372,564 |
| 23 |
$7,837,162 |
$2,860,080
$387,940 |
$4,589,142 |
| 24 |
$8,229,118 |
$3,005,104
$407,341 |
$4,816,673 |
| 25 |
$8,640,476 |
$3,157,307
$427,704 |
$5,055,465 |
| 26 |
$9,072,660 |
$3,317,215
$449,097 |
$5,306,348 |
| 27 |
$9,526,204 |
$3,485,026
$471,547 |
$5,569,631 |
| 28 |
$10,002,532 |
$3,661,267
$495,125 |
$5,846,140 |
| 29 |
$10,502,712 |
$3,846,334
$519,884 |
$6,136,494 |
| 30 |
$11,027,812 |
$4,040,621
$545,877 |
$6,441,314 |
|
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