The jackpot for the MEGA Millions draw on Tue Nov 5, 2024, is projected to be $303 Million, with an option for a cash payout of $141.8 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 Kansas residents, the state will deduct 5% from your lottery earnings.
Kansas MEGA Millions Jackpot/Cash Option for Tue Nov 5, 2024 |
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Draw Date | Tue Nov 5, 2024 | Projected Jackpot | $303,000,000 | Cash Value | $141,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $141,800,000 | Federal Tax(24%) | $34,032,000 | Additional Federal Tax | $18,394,330 | State Tax(5%) | $7,090,000 | Net Lumpsum Payment | $82,283,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$4,560,453 |
$1,647,698 $228,023 |
$2,684,732 |
2 |
$4,788,612 |
$1,732,117 $239,431 |
$2,817,064 |
3 |
$5,027,982 |
$1,820,684 $251,399 |
$2,955,899 |
4 |
$5,279,472 |
$1,913,735 $263,974 |
$3,101,763 |
5 |
$5,543,385 |
$2,011,383 $277,169 |
$3,254,833 |
6 |
$5,820,630 |
$2,113,963 $291,032 |
$3,415,635 |
7 |
$6,111,510 |
$2,221,589 $305,576 |
$3,584,345 |
8 |
$6,417,237 |
$2,334,708 $320,862 |
$3,761,667 |
9 |
$6,738,114 |
$2,453,433 $336,906 |
$3,947,775 |
10 |
$7,075,050 |
$2,578,099 $353,753 |
$4,143,198 |
11 |
$7,428,651 |
$2,708,931 $371,433 |
$4,348,287 |
12 |
$7,800,129 |
$2,846,378 $390,006 |
$4,563,745 |
13 |
$8,190,090 |
$2,990,664 $409,505 |
$4,789,921 |
14 |
$8,599,746 |
$3,142,236 $429,987 |
$5,027,523 |
15 |
$9,029,703 |
$3,301,320 $451,485 |
$5,276,898 |
16 |
$9,481,173 |
$3,468,364 $474,059 |
$5,538,750 |
17 |
$9,955,065 |
$3,643,704 $497,753 |
$5,813,608 |
18 |
$10,452,894 |
$3,827,901 $522,645 |
$6,102,348 |
19 |
$10,975,569 |
$4,021,291 $548,778 |
$6,405,500 |
20 |
$11,524,302 |
$4,224,322 $576,215 |
$6,723,765 |
21 |
$12,100,608 |
$4,437,555 $605,030 |
$7,058,023 |
22 |
$12,705,699 |
$4,661,439 $635,285 |
$7,408,975 |
23 |
$13,340,787 |
$4,896,422 $667,039 |
$7,777,326 |
24 |
$14,007,993 |
$5,143,288 $700,400 |
$8,164,305 |
25 |
$14,708,226 |
$5,402,374 $735,411 |
$8,570,441 |
26 |
$15,443,910 |
$5,674,577 $772,196 |
$8,997,137 |
27 |
$16,215,954 |
$5,960,233 $810,798 |
$9,444,923 |
28 |
$17,026,782 |
$6,260,240 $851,339 |
$9,915,203 |
29 |
$17,878,212 |
$6,575,269 $893,911 |
$10,409,032 |
30 |
$18,772,062 |
$6,905,993 $938,603 |
$10,927,466 |
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