Kansas Lottery

KSLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Sep 20, 2024 is estimated to be $47 Million, with a cash option of 23.9 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Kansas, your state will take 5% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Kansas MEGA Millions Jackpot/Cash Option for Fri Sep 20, 2024

Draw Date	Jackpot	Cash Option
Fri Sep 20, 2024	$47,000,000	$23,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$23,900,000
Federal Tax(24%)	$5,736,000
Additional Federal Tax	$3,067,330
State Tax(5%)	$1,195,000
Net Lumpsum Payment	$13,901,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$707,397	-$222,067 -$35,370	$449,960
2	$742,788	-$235,162 -$37,139	$470,487
3	$779,918	-$248,900 -$38,996	$492,022
4	$818,928	-$263,334 -$40,946	$514,648
5	$859,865	-$278,480 -$42,993	$538,392
6	$902,870	-$294,392 -$45,144	$563,334
7	$947,990	-$311,087 -$47,400	$589,503
8	$995,413	-$328,633 -$49,771	$617,009
9	$1,045,186	-$347,049 -$52,259	$645,878
10	$1,097,450	-$366,387 -$54,873	$676,190
11	$1,152,299	-$386,681 -$57,615	$708,003
12	$1,209,921	-$408,001 -$60,496	$741,424
13	$1,270,410	-$430,382 -$63,521	$776,507
14	$1,333,954	-$453,893 -$66,698	$813,363
15	$1,400,647	-$478,570 -$70,032	$852,045
16	$1,470,677	-$504,481 -$73,534	$892,662
17	$1,544,185	-$531,679 -$77,209	$935,297
18	$1,621,406	-$560,251 -$81,070	$980,085
19	$1,702,481	-$590,248 -$85,124	$1,027,109
20	$1,787,598	-$621,742 -$89,380	$1,076,476
21	$1,876,992	-$654,817 -$93,850	$1,128,325
22	$1,970,851	-$689,545 -$98,543	$1,182,763
23	$2,069,363	-$725,995 -$103,468	$1,239,900
24	$2,172,857	-$764,287 -$108,643	$1,299,927
25	$2,281,474	-$804,476 -$114,074	$1,362,924
26	$2,395,590	-$846,699 -$119,780	$1,429,111
27	$2,515,346	-$891,008 -$125,767	$1,498,571
28	$2,641,118	-$937,544 -$132,056	$1,571,518
29	$2,773,188	-$986,410 -$138,659	$1,648,119
30	$2,911,838	-$1,037,710 -$145,592	$1,728,536