The jackpot for the MEGA Millions draw on Fri Nov 22, 2024, is projected to be $453 Million, with an option for a cash payout of $209.6 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 Nov 22, 2024 |
|---|
| Draw Date | Fri Nov 22, 2024 | | Projected Jackpot | $453,000,000 | | Cash Value | $209,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $209,600,000 | | Federal Tax(24%) | $50,304,000 | | Additional Federal Tax | $27,208,330 | | State Tax(4.5%) | $9,432,000 | | Net Lumpsum Payment | $122,655,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$306,815 |
$4,028,260 |
| 2 |
$7,159,212 |
$2,609,239
$322,165 |
$4,227,808 |
| 3 |
$7,517,082 |
$2,741,651
$338,269 |
$4,437,162 |
| 4 |
$7,893,072 |
$2,880,767
$355,188 |
$4,657,117 |
| 5 |
$8,287,635 |
$3,026,755
$372,944 |
$4,887,936 |
| 6 |
$8,702,130 |
$3,180,118
$391,596 |
$5,130,416 |
| 7 |
$9,137,010 |
$3,341,024
$411,165 |
$5,384,821 |
| 8 |
$9,594,087 |
$3,510,143
$431,734 |
$5,652,210 |
| 9 |
$10,073,814 |
$3,687,642
$453,322 |
$5,932,850 |
| 10 |
$10,577,550 |
$3,874,024
$475,990 |
$6,227,536 |
| 11 |
$11,106,201 |
$4,069,625
$499,779 |
$6,536,797 |
| 12 |
$11,661,579 |
$4,275,115
$524,771 |
$6,861,693 |
| 13 |
$12,244,590 |
$4,490,829
$551,007 |
$7,202,754 |
| 14 |
$12,857,046 |
$4,717,437
$578,567 |
$7,561,042 |
| 15 |
$13,499,853 |
$4,955,276
$607,493 |
$7,937,084 |
| 16 |
$14,174,823 |
$5,205,015
$637,867 |
$8,331,941 |
| 17 |
$14,883,315 |
$5,467,157
$669,749 |
$8,746,409 |
| 18 |
$15,627,594 |
$5,742,540
$703,242 |
$9,181,812 |
| 19 |
$16,409,019 |
$6,031,667
$738,406 |
$9,638,946 |
| 20 |
$17,229,402 |
$6,335,209
$775,323 |
$10,118,870 |
| 21 |
$18,091,008 |
$6,654,003
$814,095 |
$10,622,910 |
| 22 |
$18,995,649 |
$6,988,721
$854,804 |
$11,152,124 |
| 23 |
$19,945,137 |
$7,340,031
$897,531 |
$11,707,575 |
| 24 |
$20,942,643 |
$7,709,108
$942,419 |
$12,291,116 |
| 25 |
$21,989,526 |
$8,096,455
$989,529 |
$12,903,542 |
| 26 |
$23,089,410 |
$8,503,412
$1,039,023 |
$13,546,975 |
| 27 |
$24,243,654 |
$8,930,482
$1,090,964 |
$14,222,208 |
| 28 |
$25,455,882 |
$9,379,007
$1,145,515 |
$14,931,360 |
| 29 |
$26,728,812 |
$9,849,991
$1,202,797 |
$15,676,024 |
| 30 |
$28,065,162 |
$10,344,440
$1,262,932 |
$16,457,790 |
|
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