Kentucky Lottery

KYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 1, 2025 is estimated to be $29 Million, with a cash option of 13.3 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 Tue Apr 1, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 1, 2025	$29,000,000	$13,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,300,000
Federal Tax(24%)	$3,192,000
Additional Federal Tax	$1,689,330
State Tax(4.5%)	$598,500
Net Lumpsum Payment	$7,820,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$19,642	$295,009
2	$458,316	-$129,907 -$20,624	$307,785
3	$481,226	-$138,384 -$21,655	$321,187
4	$505,296	-$147,290 -$22,738	$335,268
5	$530,555	-$156,636 -$23,875	$350,044
6	$557,090	-$166,454 -$25,069	$365,567
7	$584,930	-$176,754 -$26,322	$381,854
8	$614,191	-$187,581 -$27,639	$398,971
9	$644,902	-$198,944 -$29,021	$416,937
10	$677,150	-$210,876 -$30,472	$435,802
11	$710,993	-$223,398 -$31,995	$455,600
12	$746,547	-$236,553 -$33,595	$476,399
13	$783,870	-$250,362 -$35,274	$498,234
14	$823,078	-$264,869 -$37,039	$521,170
15	$864,229	-$280,095 -$38,890	$545,244
16	$907,439	-$296,083 -$40,835	$570,521
17	$952,795	-$312,865 -$42,876	$597,054
18	$1,000,442	-$330,494 -$45,020	$624,928
19	$1,050,467	-$349,003 -$47,271	$654,193
20	$1,102,986	-$368,435 -$49,634	$684,917
21	$1,158,144	-$388,844 -$52,116	$717,184
22	$1,216,057	-$410,271 -$54,723	$751,063
23	$1,276,841	-$432,762 -$57,458	$786,621
24	$1,340,699	-$456,389 -$60,331	$823,979
25	$1,407,718	-$481,186 -$63,347	$863,185
26	$1,478,130	-$507,238 -$66,516	$904,376
27	$1,552,022	-$534,579 -$69,841	$947,602
28	$1,629,626	-$563,292 -$73,333	$993,001
29	$1,711,116	-$593,443 -$77,000	$1,040,673
30	$1,796,666	-$625,097 -$80,850	$1,090,719