USA Mega

Illinois Mega Millions Jackpot Annuity Payout Schedule for Jul 22, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2024 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 $660,000,000 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 money, as well as deductions claimed.

State:

Illinois

Drawing Date:Fri, Jul 22, 2022
Jackpot:$660,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,933,947$3,633,748$491,730$5,808,469
2$10,430,645$3,817,526$516,317$6,096,801
3$10,952,177$4,010,493$542,133$6,399,551
4$11,499,786$4,213,109$569,239$6,717,438
5$12,074,775$4,425,854$597,701$7,051,219
6$12,678,514$4,649,238$627,586$7,401,689
7$13,312,440$4,883,790$658,966$7,769,683
8$13,978,061$5,130,070$691,914$8,156,077
9$14,676,965$5,388,665$726,510$8,561,790
10$15,410,813$5,660,188$762,835$8,987,789
11$16,181,353$5,945,288$800,977$9,435,088
12$16,990,421$6,244,643$841,026$9,904,752
13$17,839,942$6,558,966$883,077$10,397,899
14$18,731,939$6,889,005$927,231$10,915,703
15$19,668,536$7,235,546$973,593$11,459,397
16$20,651,963$7,599,414$1,022,272$12,030,277
17$21,684,561$7,981,475$1,073,386$12,629,700
18$22,768,789$8,382,640$1,127,055$13,259,094
19$23,907,228$8,803,862$1,183,408$13,919,958
20$25,102,590$9,246,146$1,242,578$14,613,866
21$26,357,719$9,710,544$1,304,707$15,342,468
22$27,675,605$10,198,162$1,369,942$16,107,501
23$29,059,386$10,710,160$1,438,440$16,910,786
24$30,512,354$11,247,759$1,510,362$17,754,234
25$32,037,972$11,812,237$1,585,880$18,639,855
26$33,639,871$12,404,940$1,665,174$19,569,758
27$35,321,865$13,027,278$1,748,432$20,546,155
28$37,087,958$13,680,732$1,835,854$21,571,372
29$38,942,356$14,366,859$1,927,647$22,647,850
30$40,889,474$15,087,293$2,024,029$23,778,152
Total$660,000,001$242,945,630$32,670,001$384,384,371

◄ Back to Jackpot Analysis

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.