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Illinois Mega Millions Jackpot Annuity Payout Schedule for Nov 12, 2024

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The tax information provided here is based on 2025 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 $361,000,000 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:Tue, Nov 12, 2024
Jackpot:$361,000,000
Federal Tax:37% marginal rate
State Tax: 4.95%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,433,568$1,967,440$268,962$3,197,166
2$5,705,247$2,067,961$282,410$3,354,875
3$5,990,509$2,173,508$296,530$3,520,470
4$6,290,034$2,284,333$311,357$3,694,345
5$6,604,536$2,400,698$326,925$3,876,913
6$6,934,763$2,522,882$343,271$4,068,610
7$7,281,501$2,651,176$360,434$4,269,891
8$7,645,576$2,785,883$378,456$4,481,237
9$8,027,855$2,927,327$397,379$4,703,149
10$8,429,247$3,075,842$417,248$4,936,158
11$8,850,710$3,231,783$438,110$5,180,817
12$9,293,245$3,395,521$460,016$5,437,709
13$9,757,908$3,567,446$483,016$5,707,445
14$10,245,803$3,747,967$507,167$5,990,668
15$10,758,093$3,937,515$532,526$6,288,053
16$11,295,998$4,136,539$559,152$6,600,307
17$11,860,798$4,345,515$587,109$6,928,173
18$12,453,838$4,564,940$616,465$7,272,432
19$13,076,529$4,795,336$647,288$7,633,905
20$13,730,356$5,037,252$679,653$8,013,451
21$14,416,874$5,291,263$713,635$8,411,975
22$15,137,717$5,557,976$749,317$8,830,425
23$15,894,603$5,838,023$786,783$9,269,797
24$16,689,333$6,132,074$826,122$9,731,138
25$17,523,800$6,440,826$867,428$10,215,546
26$18,399,990$6,765,017$910,800$10,724,174
27$19,319,990$7,105,416$956,339$11,258,234
28$20,285,989$7,462,836$1,004,156$11,818,996
29$21,300,288$7,838,127$1,054,364$12,407,797
30$22,365,303$8,232,182$1,107,082$13,026,038
Total$361,000,001$132,280,604$17,869,500$210,849,894

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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.