Kentucky Lottery

KYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Mar 11, 2025 is estimated to be $256 Million, with a cash option of 119.5 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 Kentucky, your state will take 4.5% 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.

Kentucky MEGA Millions Jackpot/Cash Option for Tue Mar 11, 2025

Draw Date	Jackpot	Cash Option
Tue Mar 11, 2025	$256,000,000	$119,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$119,500,000
Federal Tax(24%)	$28,680,000
Additional Federal Tax	$15,495,330
State Tax(4.5%)	$5,377,500
Net Lumpsum Payment	$69,947,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,853,056	-$1,385,961 -$173,388	$2,293,707
2	$4,045,824	-$1,457,285 -$182,062	$2,406,477
3	$4,248,064	-$1,532,114 -$191,163	$2,524,787
4	$4,460,544	-$1,610,732 -$200,724	$2,649,088
5	$4,683,520	-$1,693,233 -$210,758	$2,779,529
6	$4,917,760	-$1,779,902 -$221,299	$2,916,559
7	$5,163,520	-$1,870,833 -$232,358	$3,060,329
8	$5,421,824	-$1,966,405 -$243,982	$3,211,437
9	$5,692,928	-$2,066,714 -$256,182	$3,370,032
10	$5,977,600	-$2,172,042 -$268,992	$3,536,566
11	$6,276,352	-$2,282,581 -$282,436	$3,711,335
12	$6,590,208	-$2,398,707 -$296,559	$3,894,942
13	$6,919,680	-$2,520,612 -$311,386	$4,087,682
14	$7,265,792	-$2,648,673 -$326,961	$4,290,158
15	$7,629,056	-$2,783,081 -$343,308	$4,502,667
16	$8,010,496	-$2,924,214 -$360,472	$4,725,810
17	$8,410,880	-$3,072,356 -$378,490	$4,960,034
18	$8,831,488	-$3,227,981 -$397,417	$5,206,090
19	$9,273,088	-$3,391,373 -$417,289	$5,464,426
20	$9,736,704	-$3,562,911 -$438,152	$5,735,641
21	$10,223,616	-$3,743,068 -$460,063	$6,020,485
22	$10,734,848	-$3,932,224 -$483,068	$6,319,556
23	$11,271,424	-$4,130,757 -$507,214	$6,633,453
24	$11,835,136	-$4,339,331 -$532,581	$6,963,224
25	$12,426,752	-$4,558,229 -$559,204	$7,309,319
26	$13,048,320	-$4,788,209 -$587,174	$7,672,937
27	$13,700,608	-$5,029,555 -$616,527	$8,054,526
28	$14,385,664	-$5,283,026 -$647,355	$8,455,283
29	$15,105,024	-$5,549,189 -$679,726	$8,876,109
30	$15,860,224	-$5,828,613 -$713,710	$9,317,901