The jackpot for the MEGA Millions draw on Fri Feb 28, 2025, is projected to be $197 Million, with an option for a cash payout of $91.9 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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky MEGA Millions Jackpot/Cash Option for Fri Feb 28, 2025 |
|---|
| Draw Date | Fri Feb 28, 2025 | | Projected Jackpot | $197,000,000 | | Cash Value | $91,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $91,900,000 | | Federal Tax(24%) | $22,056,000 | | Additional Federal Tax | $11,907,330 | | State Tax(4.5%) | $4,135,500 | | Net Lumpsum Payment | $53,801,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$133,427 |
$1,774,222 |
| 2 |
$3,113,388 |
$1,112,284
$140,102 |
$1,861,002 |
| 3 |
$3,269,018 |
$1,169,867
$147,106 |
$1,952,045 |
| 4 |
$3,432,528 |
$1,230,366
$154,464 |
$2,047,698 |
| 5 |
$3,604,115 |
$1,293,853
$162,185 |
$2,148,077 |
| 6 |
$3,784,370 |
$1,360,547
$170,297 |
$2,253,526 |
| 7 |
$3,973,490 |
$1,430,522
$178,807 |
$2,364,161 |
| 8 |
$4,172,263 |
$1,504,068
$187,752 |
$2,480,443 |
| 9 |
$4,380,886 |
$1,581,258
$197,140 |
$2,602,488 |
| 10 |
$4,599,950 |
$1,662,312
$206,998 |
$2,730,640 |
| 11 |
$4,829,849 |
$1,747,375
$217,343 |
$2,865,131 |
| 12 |
$5,071,371 |
$1,836,738
$228,212 |
$3,006,421 |
| 13 |
$5,324,910 |
$1,930,547
$239,621 |
$3,154,742 |
| 14 |
$5,591,254 |
$2,029,094
$251,606 |
$3,310,554 |
| 15 |
$5,870,797 |
$2,132,525
$264,186 |
$3,474,086 |
| 16 |
$6,164,327 |
$2,241,131
$277,395 |
$3,645,801 |
| 17 |
$6,472,435 |
$2,355,131
$291,260 |
$3,826,044 |
| 18 |
$6,796,106 |
$2,474,890
$305,825 |
$4,015,391 |
| 19 |
$7,135,931 |
$2,600,625
$321,117 |
$4,214,189 |
| 20 |
$7,492,698 |
$2,732,629
$337,171 |
$4,422,898 |
| 21 |
$7,867,392 |
$2,871,265
$354,033 |
$4,642,094 |
| 22 |
$8,260,801 |
$3,016,827
$371,736 |
$4,872,238 |
| 23 |
$8,673,713 |
$3,169,604
$390,317 |
$5,113,792 |
| 24 |
$9,107,507 |
$3,330,108
$409,838 |
$5,367,561 |
| 25 |
$9,562,774 |
$3,498,557
$430,325 |
$5,633,892 |
| 26 |
$10,041,090 |
$3,675,534
$451,849 |
$5,913,707 |
| 27 |
$10,543,046 |
$3,861,257
$474,437 |
$6,207,352 |
| 28 |
$11,070,218 |
$4,056,311
$498,160 |
$6,515,747 |
| 29 |
$11,623,788 |
$4,261,132
$523,070 |
$6,839,586 |
| 30 |
$12,204,938 |
$4,476,157
$549,222 |
$7,179,559 |
|
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