Kentucky Lottery

KYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 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 Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
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

Year	Gross Payment	Fed/State Tax	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