The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 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 Apr 4, 2025 |
|---|
| Draw Date | Fri Apr 4, 2025 | | Projected Jackpot | $43,000,000 | | Cash Value | $20,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,000,000 | | Federal Tax(24%) | $4,800,000 | | Additional Federal Tax | $2,560,330 | | State Tax(4.95%) | $990,000 | | Net Lumpsum Payment | $11,649,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$32,036 |
$415,365 |
| 2 |
$679,572 |
$211,772
$33,639 |
$434,161 |
| 3 |
$713,542 |
$224,341
$35,320 |
$453,881 |
| 4 |
$749,232 |
$237,546
$37,087 |
$474,599 |
| 5 |
$786,685 |
$251,404
$38,941 |
$496,340 |
| 6 |
$826,030 |
$265,961
$40,888 |
$519,181 |
| 7 |
$867,310 |
$281,235
$42,932 |
$543,143 |
| 8 |
$910,697 |
$297,288
$45,080 |
$568,329 |
| 9 |
$956,234 |
$314,137
$47,334 |
$594,763 |
| 10 |
$1,004,050 |
$331,829
$49,700 |
$622,521 |
| 11 |
$1,054,231 |
$350,396
$52,184 |
$651,651 |
| 12 |
$1,106,949 |
$369,902
$54,794 |
$682,253 |
| 13 |
$1,162,290 |
$390,378
$57,533 |
$714,379 |
| 14 |
$1,220,426 |
$411,888
$60,411 |
$748,127 |
| 15 |
$1,281,443 |
$434,464
$63,431 |
$783,548 |
| 16 |
$1,345,513 |
$458,170
$66,603 |
$820,740 |
| 17 |
$1,412,765 |
$483,053
$69,932 |
$859,780 |
| 18 |
$1,483,414 |
$509,194
$73,429 |
$900,791 |
| 19 |
$1,557,589 |
$536,638
$77,101 |
$943,850 |
| 20 |
$1,635,462 |
$565,451
$80,955 |
$989,056 |
| 21 |
$1,717,248 |
$595,712
$85,004 |
$1,036,532 |
| 22 |
$1,803,119 |
$627,484
$89,254 |
$1,086,381 |
| 23 |
$1,893,247 |
$660,832
$93,716 |
$1,138,699 |
| 24 |
$1,987,933 |
$695,866
$98,403 |
$1,193,664 |
| 25 |
$2,087,306 |
$732,634
$103,322 |
$1,251,350 |
| 26 |
$2,191,710 |
$771,263
$108,490 |
$1,311,957 |
| 27 |
$2,301,274 |
$811,802
$113,913 |
$1,375,559 |
| 28 |
$2,416,342 |
$854,377
$119,609 |
$1,442,356 |
| 29 |
$2,537,172 |
$899,084
$125,590 |
$1,512,498 |
| 30 |
$2,664,022 |
$946,019
$131,869 |
$1,586,134 |
|
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