The jackpot for the MEGA Millions draw on Fri Jun 28, 2024, is projected to be $116 Million, with an option for a cash payout of $55.4 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Kansas residents, the state will deduct 5% from your lottery earnings.
| Kansas MEGA Millions Jackpot/Cash Option for Fri Jun 28, 2024 |
|---|
| Draw Date | Fri Jun 28, 2024 | | Projected Jackpot | $116,000,000 | | Cash Value | $55,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $55,400,000 | | Federal Tax(24%) | $13,296,000 | | Additional Federal Tax | $7,162,330 | | State Tax(5%) | $2,770,000 | | Net Lumpsum Payment | $32,171,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,745,916 |
$606,319
$87,296 |
$1,052,301 |
| 2 |
$1,833,264 |
$638,638
$91,663 |
$1,102,963 |
| 3 |
$1,924,904 |
$672,545
$96,245 |
$1,156,114 |
| 4 |
$2,021,184 |
$708,168
$101,059 |
$1,211,957 |
| 5 |
$2,122,220 |
$745,552
$106,111 |
$1,270,557 |
| 6 |
$2,228,360 |
$784,824
$111,418 |
$1,332,118 |
| 7 |
$2,339,720 |
$826,027
$116,986 |
$1,396,707 |
| 8 |
$2,456,764 |
$869,333
$122,838 |
$1,464,593 |
| 9 |
$2,579,608 |
$914,785
$128,980 |
$1,535,843 |
| 10 |
$2,708,600 |
$962,512
$135,430 |
$1,610,658 |
| 11 |
$2,843,972 |
$1,012,600
$142,199 |
$1,689,173 |
| 12 |
$2,986,188 |
$1,065,220
$149,309 |
$1,771,659 |
| 13 |
$3,135,480 |
$1,120,458
$156,774 |
$1,858,248 |
| 14 |
$3,292,312 |
$1,178,486
$164,616 |
$1,949,210 |
| 15 |
$3,456,916 |
$1,239,389
$172,846 |
$2,044,681 |
| 16 |
$3,629,756 |
$1,303,340
$181,488 |
$2,144,928 |
| 17 |
$3,811,180 |
$1,370,467
$190,559 |
$2,250,154 |
| 18 |
$4,001,768 |
$1,440,985
$200,088 |
$2,360,695 |
| 19 |
$4,201,868 |
$1,515,022
$210,093 |
$2,476,753 |
| 20 |
$4,411,944 |
$1,592,750
$220,597 |
$2,598,597 |
| 21 |
$4,632,576 |
$1,674,384
$231,629 |
$2,726,563 |
| 22 |
$4,864,228 |
$1,760,095
$243,211 |
$2,860,922 |
| 23 |
$5,107,364 |
$1,850,055
$255,368 |
$3,001,941 |
| 24 |
$5,362,796 |
$1,944,565
$268,140 |
$3,150,091 |
| 25 |
$5,630,872 |
$2,043,753
$281,544 |
$3,305,575 |
| 26 |
$5,912,520 |
$2,147,963
$295,626 |
$3,468,931 |
| 27 |
$6,208,088 |
$2,257,323
$310,404 |
$3,640,361 |
| 28 |
$6,518,504 |
$2,372,177
$325,925 |
$3,820,402 |
| 29 |
$6,844,464 |
$2,492,782
$342,223 |
$4,009,459 |
| 30 |
$7,186,664 |
$2,619,396
$359,333 |
$4,207,935 |
|
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