The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky MEGA Millions Jackpot/Cash Option for Fri Nov 15, 2024 |
|---|
| Draw Date | Fri Nov 15, 2024 | | Projected Jackpot | $387,000,000 | | Cash Value | $181,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,400,000 | | Federal Tax(24%) | $43,536,000 | | Additional Federal Tax | $23,542,330 | | State Tax(4.5%) | $8,163,000 | | Net Lumpsum Payment | $106,158,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$262,113 |
$3,447,141 |
| 2 |
$6,116,148 |
$2,223,305
$275,227 |
$3,617,616 |
| 3 |
$6,421,878 |
$2,336,425
$288,985 |
$3,796,468 |
| 4 |
$6,743,088 |
$2,455,273
$303,439 |
$3,984,376 |
| 5 |
$7,080,165 |
$2,579,991
$318,607 |
$4,181,567 |
| 6 |
$7,434,270 |
$2,711,010
$334,542 |
$4,388,718 |
| 7 |
$7,805,790 |
$2,848,473
$351,261 |
$4,606,056 |
| 8 |
$8,196,273 |
$2,992,951
$368,832 |
$4,834,490 |
| 9 |
$8,606,106 |
$3,144,590
$387,275 |
$5,074,241 |
| 10 |
$9,036,450 |
$3,303,817
$406,640 |
$5,325,993 |
| 11 |
$9,488,079 |
$3,470,920
$426,964 |
$5,590,195 |
| 12 |
$9,962,541 |
$3,646,471
$448,314 |
$5,867,756 |
| 13 |
$10,460,610 |
$3,830,756
$470,727 |
$6,159,127 |
| 14 |
$10,983,834 |
$4,024,349
$494,273 |
$6,465,212 |
| 15 |
$11,532,987 |
$4,227,536
$518,984 |
$6,786,467 |
| 16 |
$12,109,617 |
$4,440,889
$544,933 |
$7,123,795 |
| 17 |
$12,714,885 |
$4,664,838
$572,170 |
$7,477,877 |
| 18 |
$13,350,726 |
$4,900,099
$600,783 |
$7,849,844 |
| 19 |
$14,018,301 |
$5,147,102
$630,824 |
$8,240,375 |
| 20 |
$14,719,158 |
$5,406,419
$662,362 |
$8,650,377 |
| 21 |
$15,455,232 |
$5,678,766
$695,485 |
$9,080,981 |
| 22 |
$16,228,071 |
$5,964,717
$730,263 |
$9,533,091 |
| 23 |
$17,039,223 |
$6,264,843
$766,765 |
$10,007,615 |
| 24 |
$17,891,397 |
$6,580,147
$805,113 |
$10,506,137 |
| 25 |
$18,785,754 |
$6,911,059
$845,359 |
$11,029,336 |
| 26 |
$19,725,390 |
$7,258,725
$887,643 |
$11,579,022 |
| 27 |
$20,711,466 |
$7,623,573
$932,016 |
$12,155,877 |
| 28 |
$21,747,078 |
$8,006,749
$978,619 |
$12,761,710 |
| 29 |
$22,834,548 |
$8,409,113
$1,027,555 |
$13,397,880 |
| 30 |
$23,976,198 |
$8,831,524
$1,078,929 |
$14,065,745 |
|
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