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Illinois Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 2021

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The tax information provided here is based on 2021 federal marginal rates and state tax rates. It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year. The table below shows the payout schedule for a jackpot of $20,000,000 for a ticket purchased in Illinois, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year. They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

Illinois

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $301,029 $79,904 $14,901 $206,223
2 $316,080 $85,172 $15,646 $215,262
3 $331,884 $90,704 $16,428 $224,752
4 $348,478 $96,512 $17,250 $234,717
5 $365,902 $102,610 $18,112 $245,180
6 $384,197 $109,013 $19,018 $256,166
7 $403,407 $115,737 $19,969 $267,702
8 $423,578 $122,796 $20,967 $279,814
9 $444,757 $130,209 $22,015 $292,532
10 $466,994 $137,992 $23,116 $305,886
11 $490,344 $146,165 $24,272 $319,907
12 $514,861 $154,746 $25,486 $334,630
13 $540,604 $164,096 $26,760 $349,749
14 $567,635 $174,097 $28,098 $365,440
15 $596,016 $184,598 $29,503 $381,915
16 $625,817 $195,625 $30,978 $399,215
17 $657,108 $207,202 $32,527 $417,379
18 $689,963 $219,359 $34,153 $436,451
19 $724,461 $232,123 $35,861 $456,478
20 $760,685 $245,526 $37,654 $477,505
21 $798,719 $259,598 $39,537 $499,584
22 $838,655 $274,374 $41,513 $522,767
23 $880,587 $289,890 $43,589 $547,109
24 $924,617 $306,180 $45,769 $572,668
25 $970,848 $323,286 $48,057 $599,505
26 $1,019,390 $341,247 $50,460 $627,684
27 $1,070,360 $360,105 $52,983 $657,271
28 $1,123,878 $379,907 $55,632 $688,339
29 $1,180,071 $400,699 $58,414 $720,959
30 $1,239,075 $422,530 $61,334 $755,211
Total $20,000,000 $6,352,002 $990,002 $12,658,000

Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.

Mega Millions annuity chart shows the annual net payout a Illinois jackpot winner would get after federal and state taxes.

Elk Grove Village store sells $1M Illinois Lottery ticket as Mega Millions winning numbers drawing yields no winner

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An Illinois lottery ticket worth $1 million was just sold in Elk Grove Village.

After Tuesday’s Mega Millions drawing, another Illinois Lottery player won $1 million. That ticket was purchased at Lively Liquor at 1170 E. Higgins Road in Elk Grove Village.

A $50,000 winning ticket from the Jan. 13 drawing was sold at the Mariano’s at 3020 Wolf Road in Westchester. The $1 million winning ticket from the Saturday drawing was sold at the Circle K at 1300 Carbon St. in Marion.

Since the jackpot began its roll on Sept. 19, Illinois Lottery players have cashed in on $6,660,079 million in Powerball prizes.

The Mega Millions jackpot is edging closer to the $1 billion mark after no winner was drawn Tuesday.

The jackpot is now estimated at $970 million for Friday’s drawing. It had stood at an estimated $865 million for Tuesday’s drawing.

A Mega Millions ticket worth $1 million was purchased at a Chicago 7-Eleven this week.

If hit Friday, it would be the third-largest jackpot in U.S. history.

Powerball, the other lottery game offered in most of the U.S., isn’t far behind at $730 million for a drawing Wednesday night.

MEGA MILLIONS WINNING NUMBERS: 10-19-26-28-50 Mega Ball: 16 Megaplier: 2

Such big jackpots are rare, but both games rely on incredibly long odds to generate attention and increase sales. For Mega Millions, the odds of matching all six numbers is one in 302.5 million, and for Powerball it’s one in 292.2 million.

The prizes listed are for winners who choose an annuity option, paid over 30 years. Winners almost always opt for cash prizes. For Mega Millions, the $970 million would mean a $716 million cash prize, while Powerball would be $546 million.

Those prizes also would be subject to federal taxes, and most states would take a cut as well.

Powerball is played on Wednesday and Saturday, with the next draw taking place at 9:59 p.m. Wednesday.

Mega Millions is played every Friday and Tuesday night, with the next draw taking place at 10 p.m. Friday.

The Associated Press contributed to this report.

An Elk Grove Village store sold a $1M Illinois Lottery ticket, as Tuesday's Mega Millions winning numbers drawing yields no winner. ]]>