The jackpot for the MEGA Millions draw on Tue Jul 2, 2024, is projected to be $137 Million, with an option for a cash payout of $64.5 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 Jul 2, 2024 |
|---|
| Draw Date | Tue Jul 2, 2024 | | Projected Jackpot | $137,000,000 | | Cash Value | $64,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $64,500,000 | | Federal Tax(24%) | $15,480,000 | | Additional Federal Tax | $8,345,330 | | State Tax(5%) | $3,225,000 | | Net Lumpsum Payment | $37,449,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,061,987 |
$723,266
$103,099 |
$1,235,622 |
| 2 |
$2,165,148 |
$761,435
$108,257 |
$1,295,456 |
| 3 |
$2,273,378 |
$801,480
$113,669 |
$1,358,229 |
| 4 |
$2,387,088 |
$843,553
$119,354 |
$1,424,181 |
| 5 |
$2,506,415 |
$887,704
$125,321 |
$1,493,390 |
| 6 |
$2,631,770 |
$934,085
$131,589 |
$1,566,096 |
| 7 |
$2,763,290 |
$982,748
$138,165 |
$1,642,377 |
| 8 |
$2,901,523 |
$1,033,894
$145,076 |
$1,722,553 |
| 9 |
$3,046,606 |
$1,087,575
$152,330 |
$1,806,701 |
| 10 |
$3,198,950 |
$1,143,942
$159,948 |
$1,895,060 |
| 11 |
$3,358,829 |
$1,203,097
$167,941 |
$1,987,791 |
| 12 |
$3,526,791 |
$1,265,243
$176,340 |
$2,085,208 |
| 13 |
$3,703,110 |
$1,330,481
$185,156 |
$2,187,473 |
| 14 |
$3,888,334 |
$1,399,014
$194,417 |
$2,294,903 |
| 15 |
$4,082,737 |
$1,470,943
$204,137 |
$2,407,657 |
| 16 |
$4,286,867 |
$1,546,471
$214,343 |
$2,526,053 |
| 17 |
$4,501,135 |
$1,625,750
$225,057 |
$2,650,328 |
| 18 |
$4,726,226 |
$1,709,034
$236,311 |
$2,780,881 |
| 19 |
$4,962,551 |
$1,796,474
$248,128 |
$2,917,949 |
| 20 |
$5,210,658 |
$1,888,274
$260,533 |
$3,061,851 |
| 21 |
$5,471,232 |
$1,984,686
$273,562 |
$3,212,984 |
| 22 |
$5,744,821 |
$2,085,914
$287,241 |
$3,371,666 |
| 23 |
$6,031,973 |
$2,192,160
$301,599 |
$3,538,214 |
| 24 |
$6,333,647 |
$2,303,780
$316,682 |
$3,713,185 |
| 25 |
$6,650,254 |
$2,420,924
$332,513 |
$3,896,817 |
| 26 |
$6,982,890 |
$2,544,000
$349,145 |
$4,089,745 |
| 27 |
$7,331,966 |
$2,673,158
$366,598 |
$4,292,210 |
| 28 |
$7,698,578 |
$2,808,804
$384,929 |
$4,504,845 |
| 29 |
$8,083,548 |
$2,951,243
$404,177 |
$4,728,128 |
| 30 |
$8,487,698 |
$3,100,779
$424,385 |
$4,962,534 |
|
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