The jackpot for the MEGA Millions draw on Fri Mar 14, 2025, is projected to be $277 Million, with an option for a cash payout of $129.5 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 Mar 14, 2025 |
|---|
| Draw Date | Fri Mar 14, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $129,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $129,500,000 | | Federal Tax(24%) | $31,080,000 | | Additional Federal Tax | $16,795,330 | | State Tax(4.95%) | $6,410,250 | | Net Lumpsum Payment | $75,214,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$206,372 |
$2,459,848 |
| 2 |
$4,377,708 |
$1,580,082
$216,697 |
$2,580,929 |
| 3 |
$4,596,538 |
$1,661,049
$227,529 |
$2,707,960 |
| 4 |
$4,826,448 |
$1,746,116
$238,909 |
$2,841,423 |
| 5 |
$5,067,715 |
$1,835,385
$250,852 |
$2,981,478 |
| 6 |
$5,321,170 |
$1,929,163
$263,398 |
$3,128,609 |
| 7 |
$5,587,090 |
$2,027,554
$276,561 |
$3,282,975 |
| 8 |
$5,866,583 |
$2,130,966
$290,396 |
$3,445,221 |
| 9 |
$6,159,926 |
$2,239,503
$304,916 |
$3,615,507 |
| 10 |
$6,467,950 |
$2,353,472
$320,164 |
$3,794,314 |
| 11 |
$6,791,209 |
$2,473,078
$336,165 |
$3,981,966 |
| 12 |
$7,130,811 |
$2,598,730
$352,975 |
$4,179,106 |
| 13 |
$7,487,310 |
$2,730,635
$370,622 |
$4,386,053 |
| 14 |
$7,861,814 |
$2,869,202
$389,160 |
$4,603,452 |
| 15 |
$8,254,877 |
$3,014,635
$408,616 |
$4,831,626 |
| 16 |
$8,667,607 |
$3,167,345
$429,047 |
$5,071,215 |
| 17 |
$9,100,835 |
$3,327,639
$450,491 |
$5,322,705 |
| 18 |
$9,555,946 |
$3,496,030
$473,019 |
$5,586,897 |
| 19 |
$10,033,771 |
$3,672,826
$496,672 |
$5,864,273 |
| 20 |
$10,535,418 |
$3,858,435
$521,503 |
$6,155,480 |
| 21 |
$11,062,272 |
$4,053,371
$547,582 |
$6,461,319 |
| 22 |
$11,615,441 |
$4,258,044
$574,964 |
$6,782,433 |
| 23 |
$12,196,033 |
$4,472,863
$603,704 |
$7,119,466 |
| 24 |
$12,805,987 |
$4,698,546
$633,896 |
$7,473,545 |
| 25 |
$13,446,134 |
$4,935,400
$665,584 |
$7,845,150 |
| 26 |
$14,118,690 |
$5,184,246
$698,875 |
$8,235,569 |
| 27 |
$14,824,486 |
$5,445,390
$733,812 |
$8,645,284 |
| 28 |
$15,565,738 |
$5,719,653
$770,504 |
$9,075,581 |
| 29 |
$16,344,108 |
$6,007,650
$809,033 |
$9,527,425 |
| 30 |
$17,161,258 |
$6,309,996
$849,482 |
$10,001,780 |
|
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