The jackpot for the MEGA Millions draw on Tue Oct 8, 2024, is projected to be $129 Million, with an option for a cash payout of $62.3 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 Oct 8, 2024 |
|---|
| Draw Date | Tue Oct 8, 2024 | | Projected Jackpot | $129,000,000 | | Cash Value | $62,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $62,300,000 | | Federal Tax(24%) | $14,952,000 | | Additional Federal Tax | $8,059,330 | | State Tax(5%) | $3,115,000 | | Net Lumpsum Payment | $36,173,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,941,579 |
$678,715
$97,079 |
$1,165,785 |
| 2 |
$2,038,716 |
$714,655
$101,936 |
$1,222,125 |
| 3 |
$2,140,626 |
$752,362
$107,031 |
$1,281,233 |
| 4 |
$2,247,696 |
$791,978
$112,385 |
$1,343,333 |
| 5 |
$2,360,055 |
$833,551
$118,003 |
$1,408,501 |
| 6 |
$2,478,090 |
$877,224
$123,905 |
$1,476,961 |
| 7 |
$2,601,930 |
$923,044
$130,097 |
$1,548,789 |
| 8 |
$2,732,091 |
$971,204
$136,605 |
$1,624,282 |
| 9 |
$2,868,702 |
$1,021,750
$143,435 |
$1,703,517 |
| 10 |
$3,012,150 |
$1,074,826
$150,608 |
$1,786,716 |
| 11 |
$3,162,693 |
$1,130,527
$158,135 |
$1,874,031 |
| 12 |
$3,320,847 |
$1,189,044
$166,042 |
$1,965,761 |
| 13 |
$3,486,870 |
$1,250,472
$174,344 |
$2,062,054 |
| 14 |
$3,661,278 |
$1,315,003
$183,064 |
$2,163,211 |
| 15 |
$3,844,329 |
$1,382,732
$192,216 |
$2,269,381 |
| 16 |
$4,036,539 |
$1,453,850
$201,827 |
$2,380,862 |
| 17 |
$4,238,295 |
$1,528,500
$211,915 |
$2,497,880 |
| 18 |
$4,450,242 |
$1,606,920
$222,512 |
$2,620,810 |
| 19 |
$4,672,767 |
$1,689,254
$233,638 |
$2,749,875 |
| 20 |
$4,906,386 |
$1,775,693
$245,319 |
$2,885,374 |
| 21 |
$5,151,744 |
$1,866,476
$257,587 |
$3,027,681 |
| 22 |
$5,409,357 |
$1,961,792
$270,468 |
$3,177,097 |
| 23 |
$5,679,741 |
$2,061,835
$283,987 |
$3,333,919 |
| 24 |
$5,963,799 |
$2,166,936
$298,190 |
$3,498,673 |
| 25 |
$6,261,918 |
$2,277,240
$313,096 |
$3,671,582 |
| 26 |
$6,575,130 |
$2,393,128
$328,757 |
$3,853,245 |
| 27 |
$6,903,822 |
$2,514,745
$345,191 |
$4,043,886 |
| 28 |
$7,249,026 |
$2,642,470
$362,451 |
$4,244,105 |
| 29 |
$7,611,516 |
$2,776,591
$380,576 |
$4,454,349 |
| 30 |
$7,992,066 |
$2,917,395
$399,603 |
$4,675,068 |
|
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