Illinois Lottery Tax Calculator: Powerball & Mega Millions After Taxes
Illinois taxes lottery winnings at 4.95% on top of federal tax — 24% is withheld immediately, but the real bill runs to the 37% top bracket once you file. The calculator below works out exactly what a Powerball or Mega Millions jackpot nets you after both.
Gross Payout
$0
estimated: 60% of the jackpot (assumption)
Total Taxes
$0
0% effective rate
Take-Home
$0
0% of jackpot
Total Payout
$0
Full jackpot over 30 years
Total Taxes
$0
0% effective rate
Take-Home
$0
Annual: $0
What a Jackpot Pays After Taxes in Illinois
The table below runs Illinois's rate (4.95%) against six common jackpot sizes, using an assumed cash value of 60% of the advertised jackpot (an estimate for comparison — the real cash value is set by each drawing's prize pool and interest rates, and was about 41% in October 2026) and federal brackets as the calculator above.
| Advertised Jackpot | Est. Cash Value (60% assumption) | Federal Tax | Illinois Tax | Take-Home Cash | Annuity Take-Home (30 payments, total) |
|---|---|---|---|---|---|
| $1.0M | $600,000 | $180,375 | $29,700 | $389,925 | $837,460 |
| $10.0M | $6.0M | $2.2M | $297,000 | $3.5M | $6.9M |
| $50.0M | $30.0M | $11.1M | $1.5M | $17.5M | $30.3M |
| $100.0M | $60.0M | $22.2M | $3.0M | $34.9M | $59.3M |
| $500.0M | $300.0M | $111.0M | $14.8M | $174.2M | $291.5M |
| $1.00B | $600.0M | $222.0M | $29.7M | $348.3M | $581.8M |
Single filer, 2024 federal tax brackets. Estimates, not tax advice.
How Illinois Compares
Illinois ranks #25 highest of 46 jurisdictions that sell Powerball and Mega Millions tickets, by top state tax rate on lottery winnings (ties share a rank). Here is how the states that actually border Illinois compare, including which ones do not sell these games at all:
Where you buy the ticket decides which state withholds first, but your home state generally taxes the prize as well. For reference, these states charge no state tax on lottery prizes (federal tax still applies): California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, Wyoming.
Illinois Lottery Tax Rules
Beyond Illinois's own rate, two federal rules apply to every winner everywhere: the lottery withholds 24% of any prize over $5,000 before you ever see the check, and because a jackpot-sized win pushes you into the 37% top federal bracket, you will owe more when you file — the withholding is a down payment, not the final bill. Where you live matters too: winnings are taxed first by the state where the ticket was sold, and generally by your home state as well if it is different, though most states that tax income give a credit for tax already paid elsewhere so you are not charged twice on the same dollar. Exactly how that credit works varies by state, and Illinois's own rate can change whenever its legislature changes the state's tax code — treat the number on this page as current, not permanent.
For more detail on the math behind these numbers, see our guides on how much you actually keep after taxes and which states let you keep the most.
Frequently Asked Questions
Does Illinois tax lottery winnings?
Yes. The top rate on lottery winnings in Illinois is 4.95%, charged on top of federal tax.
How much would I keep from a $1 million prize in Illinois?
Taking the cash option on a $1,000,000 jackpot in Illinois, you would keep approximately $389,925 after federal and state tax — see the worked example above for the math.
Lump sum or annuity in Illinois?
The choice does not depend on which state you are in — the cash option is a smaller lump sum set by each drawing's prize pool and interest rates — about 41% of the advertised jackpot in October 2026; the examples on this page assume 60% paid immediately, while the annuity pays the full amount over 30 years. The tax rate in Illinois applies to both, so compare the take-home figures above for your own situation.
What if I live in another state but bought the ticket in Illinois?
You will generally owe tax to Illinois on the prize because that is where the ticket was sold, and you may also owe tax in your home state, usually with a credit for what you already paid to Illinois. The exact treatment depends on the rules of your home state.
Lottery Taxes in Other States
Every state's rate is different. Pick any of these for its own page with worked examples:
Where to Go Next
- Lottery tax calculator — try another jackpot size or filing status.
- Powerball analysis and Mega Millions — draw frequencies and statistics.
- Odds calculator — how unlikely it actually is to owe any of this.
Disclaimer: This calculator provides estimates only, not tax advice. Actual tax liability depends on your complete financial situation, deductions, filing status, and the tax law in effect when you file; consult a qualified tax professional for guidance specific to your situation. This page was last reviewed 2026-10-07.