The jackpot for the MEGA Millions draw on Fri May 22, 2026, is projected to be $296 Million, with an option for a cash payout of $128.6 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 22, 2026 |
|---|
| Draw Date | Fri May 22, 2026 | | Projected Jackpot | $296,000,000 | | Cash Value | $128,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $128,600,000 | | Federal Tax(24%) | $30,864,000 | | Additional Federal Tax | $16,678,330 | | State Tax(4.95%) | $6,365,700 | | Net Lumpsum Payment | $74,691,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,455,096 |
$1,608,716
$220,527 |
$2,625,853 |
| 2 |
$4,677,984 |
$1,691,184
$231,560 |
$2,755,240 |
| 3 |
$4,911,824 |
$1,777,705
$243,135 |
$2,890,984 |
| 4 |
$5,157,504 |
$1,868,607
$255,296 |
$3,033,601 |
| 5 |
$5,415,320 |
$1,963,999
$268,058 |
$3,183,263 |
| 6 |
$5,686,160 |
$2,064,210
$281,465 |
$3,340,485 |
| 7 |
$5,970,320 |
$2,169,349
$295,531 |
$3,505,440 |
| 8 |
$6,268,984 |
$2,279,854
$310,315 |
$3,678,815 |
| 9 |
$6,582,448 |
$2,395,836
$325,831 |
$3,860,781 |
| 10 |
$6,911,600 |
$2,517,622
$342,124 |
$4,051,854 |
| 11 |
$7,257,032 |
$2,645,432
$359,223 |
$4,252,377 |
| 12 |
$7,619,928 |
$2,779,704
$377,186 |
$4,463,038 |
| 13 |
$8,000,880 |
$2,920,656
$396,044 |
$4,684,180 |
| 14 |
$8,401,072 |
$3,068,727
$415,853 |
$4,916,492 |
| 15 |
$8,821,096 |
$3,224,136
$436,644 |
$5,160,316 |
| 16 |
$9,262,136 |
$3,387,321
$458,476 |
$5,416,339 |
| 17 |
$9,725,080 |
$3,558,610
$481,391 |
$5,685,079 |
| 18 |
$10,211,408 |
$3,738,551
$505,465 |
$5,967,392 |
| 19 |
$10,722,008 |
$3,927,473
$530,739 |
$6,263,796 |
| 20 |
$11,258,064 |
$4,125,814
$557,274 |
$6,574,976 |
| 21 |
$11,821,056 |
$4,334,121
$585,142 |
$6,901,793 |
| 22 |
$12,412,168 |
$4,552,833
$614,402 |
$7,244,933 |
| 23 |
$13,032,584 |
$4,782,386
$645,113 |
$7,605,085 |
| 24 |
$13,684,376 |
$5,023,550
$677,377 |
$7,983,449 |
| 25 |
$14,368,432 |
$5,276,650
$711,237 |
$8,380,545 |
| 26 |
$15,087,120 |
$5,542,565
$746,812 |
$8,797,743 |
| 27 |
$15,841,328 |
$5,821,622
$784,146 |
$9,235,560 |
| 28 |
$16,633,424 |
$6,114,697
$823,354 |
$9,695,373 |
| 29 |
$17,465,184 |
$6,422,448
$864,527 |
$10,178,209 |
| 30 |
$18,338,384 |
$6,745,532
$907,750 |
$10,685,102 |
|
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