Kentucky Lottery

KYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 16, 2025 is estimated to be $122 Million, with a cash option of 54.8 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Kentucky, your state will take 4.5% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Kentucky MEGA Millions Jackpot/Cash Option for Fri May 16, 2025

Draw Date	Jackpot	Cash Option
Fri May 16, 2025	$122,000,000	$54,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$54,800,000
Federal Tax(24%)	$13,152,000
Additional Federal Tax	$7,084,330
State Tax(4.5%)	$2,466,000
Net Lumpsum Payment	$32,097,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,836,222	-$639,733 -$82,630	$1,113,859
2	$1,928,088	-$673,723 -$86,764	$1,167,601
3	$2,024,468	-$709,384 -$91,101	$1,223,983
4	$2,125,728	-$746,850 -$95,658	$1,283,220
5	$2,231,990	-$786,167 -$100,440	$1,345,383
6	$2,343,620	-$827,470 -$105,463	$1,410,687
7	$2,460,740	-$870,804 -$110,733	$1,479,203
8	$2,583,838	-$916,350 -$116,273	$1,551,215
9	$2,713,036	-$964,154 -$122,087	$1,626,795
10	$2,848,700	-$1,014,349 -$128,192	$1,706,159
11	$2,991,074	-$1,067,028 -$134,598	$1,789,448
12	$3,140,646	-$1,122,369 -$141,329	$1,876,948
13	$3,297,660	-$1,180,465 -$148,395	$1,968,800
14	$3,462,604	-$1,241,494 -$155,817	$2,065,293
15	$3,635,722	-$1,305,548 -$163,607	$2,166,567
16	$3,817,502	-$1,372,806 -$171,788	$2,272,908
17	$4,008,310	-$1,443,405 -$180,374	$2,384,531
18	$4,208,756	-$1,517,570 -$189,394	$2,501,792
19	$4,419,206	-$1,595,437 -$198,864	$2,624,905
20	$4,640,148	-$1,677,185 -$208,807	$2,754,156
21	$4,872,192	-$1,763,041 -$219,249	$2,889,902
22	$5,115,826	-$1,853,186 -$230,212	$3,032,428
23	$5,371,538	-$1,947,799 -$241,719	$3,182,020
24	$5,640,182	-$2,047,198 -$253,808	$3,339,176
25	$5,922,124	-$2,151,516 -$266,496	$3,504,112
26	$6,218,340	-$2,261,116 -$279,825	$3,677,399
27	$6,529,196	-$2,376,133 -$293,814	$3,859,249
28	$6,855,668	-$2,496,928 -$308,505	$4,050,235
29	$7,198,488	-$2,623,771 -$323,932	$4,250,785
30	$7,558,388	-$2,756,934 -$340,127	$4,461,327