The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 Tue Apr 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(4.5%) | $1,431,000 | | Net Lumpsum Payment | $18,642,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$47,411 |
$656,008 |
| 2 |
$1,106,280 |
$369,654
$49,783 |
$686,843 |
| 3 |
$1,161,580 |
$390,115
$52,271 |
$719,194 |
| 4 |
$1,219,680 |
$411,612
$54,886 |
$753,182 |
| 5 |
$1,280,650 |
$434,171
$57,629 |
$788,850 |
| 6 |
$1,344,700 |
$457,869
$60,512 |
$826,319 |
| 7 |
$1,411,900 |
$482,733
$63,536 |
$865,631 |
| 8 |
$1,482,530 |
$508,866
$66,714 |
$906,950 |
| 9 |
$1,556,660 |
$536,295
$70,050 |
$950,315 |
| 10 |
$1,634,500 |
$565,095
$73,553 |
$995,852 |
| 11 |
$1,716,190 |
$595,321
$77,229 |
$1,043,640 |
| 12 |
$1,802,010 |
$627,074
$81,090 |
$1,093,846 |
| 13 |
$1,892,100 |
$660,407
$85,145 |
$1,146,548 |
| 14 |
$1,986,740 |
$695,424
$89,403 |
$1,201,913 |
| 15 |
$2,086,070 |
$732,176
$93,873 |
$1,260,021 |
| 16 |
$2,190,370 |
$770,767
$98,567 |
$1,321,036 |
| 17 |
$2,299,850 |
$811,275
$103,493 |
$1,385,082 |
| 18 |
$2,414,860 |
$853,829
$108,669 |
$1,452,362 |
| 19 |
$2,535,610 |
$898,506
$114,102 |
$1,523,002 |
| 20 |
$2,662,380 |
$945,411
$119,807 |
$1,597,162 |
| 21 |
$2,795,520 |
$994,673
$125,798 |
$1,675,049 |
| 22 |
$2,935,310 |
$1,046,395
$132,089 |
$1,756,826 |
| 23 |
$3,082,030 |
$1,100,681
$138,691 |
$1,842,658 |
| 24 |
$3,236,170 |
$1,157,713
$145,628 |
$1,932,829 |
| 25 |
$3,397,940 |
$1,217,568
$152,907 |
$2,027,465 |
| 26 |
$3,567,900 |
$1,280,453
$160,556 |
$2,126,891 |
| 27 |
$3,746,260 |
$1,346,447
$168,582 |
$2,231,231 |
| 28 |
$3,933,580 |
$1,415,755
$177,011 |
$2,340,814 |
| 29 |
$4,130,280 |
$1,488,534
$185,863 |
$2,455,883 |
| 30 |
$4,336,780 |
$1,564,939
$195,155 |
$2,576,686 |
|
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