The jackpot for the MEGA Millions draw on Tue May 12, 2026, is projected to be $232 Million, with an option for a cash payout of $103.8 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 Tue May 12, 2026 |
|---|
| Draw Date | Tue May 12, 2026 | | Projected Jackpot | $232,000,000 | | Cash Value | $103,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $103,800,000 | | Federal Tax(24%) | $24,912,000 | | Additional Federal Tax | $13,454,330 | | State Tax(4.95%) | $5,138,100 | | Net Lumpsum Payment | $60,295,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,491,832 |
$1,252,308
$172,846 |
$2,066,678 |
| 2 |
$3,666,528 |
$1,316,946
$181,493 |
$2,168,089 |
| 3 |
$3,849,808 |
$1,384,759
$190,565 |
$2,274,484 |
| 4 |
$4,042,368 |
$1,456,007
$200,097 |
$2,386,264 |
| 5 |
$4,244,440 |
$1,530,773
$210,100 |
$2,503,567 |
| 6 |
$4,456,720 |
$1,609,317
$220,608 |
$2,626,795 |
| 7 |
$4,679,440 |
$1,691,723
$231,632 |
$2,756,085 |
| 8 |
$4,913,528 |
$1,778,336
$243,220 |
$2,891,972 |
| 9 |
$5,159,216 |
$1,869,240
$255,381 |
$3,034,595 |
| 10 |
$5,417,200 |
$1,964,694
$268,151 |
$3,184,355 |
| 11 |
$5,687,944 |
$2,064,870
$281,553 |
$3,341,521 |
| 12 |
$5,972,376 |
$2,170,110
$295,633 |
$3,506,633 |
| 13 |
$6,270,960 |
$2,280,586
$310,413 |
$3,679,961 |
| 14 |
$6,584,624 |
$2,396,641
$325,939 |
$3,862,044 |
| 15 |
$6,913,832 |
$2,518,448
$342,235 |
$4,053,149 |
| 16 |
$7,259,512 |
$2,646,350
$359,346 |
$4,253,816 |
| 17 |
$7,622,360 |
$2,780,604
$377,307 |
$4,464,449 |
| 18 |
$8,003,536 |
$2,921,639
$396,175 |
$4,685,722 |
| 19 |
$8,403,736 |
$3,069,713
$415,985 |
$4,918,038 |
| 20 |
$8,823,888 |
$3,225,169
$436,782 |
$5,161,937 |
| 21 |
$9,265,152 |
$3,388,437
$458,625 |
$5,418,090 |
| 22 |
$9,728,456 |
$3,559,859
$481,559 |
$5,687,038 |
| 23 |
$10,214,728 |
$3,739,780
$505,629 |
$5,969,319 |
| 24 |
$10,725,592 |
$3,928,799
$530,917 |
$6,265,876 |
| 25 |
$11,261,744 |
$4,127,176
$557,456 |
$6,577,112 |
| 26 |
$11,825,040 |
$4,335,595
$585,339 |
$6,904,106 |
| 27 |
$12,416,176 |
$4,554,316
$614,601 |
$7,247,259 |
| 28 |
$13,037,008 |
$4,784,023
$645,332 |
$7,607,653 |
| 29 |
$13,688,928 |
$5,025,234
$677,602 |
$7,986,092 |
| 30 |
$14,373,328 |
$5,278,462
$711,480 |
$8,383,386 |
|
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