The jackpot for the MEGA Millions draw on Fri May 16, 2025, is projected to be $122 Million, with an option for a cash payout of $54.8 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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky MEGA Millions Jackpot/Cash Option for Fri May 16, 2025 |
|---|
| Draw Date | Fri May 16, 2025 | | Projected Jackpot | $122,000,000 | | Cash Value | $54,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,800,000 | | Federal Tax(24%) | $13,152,000 | | Additional Federal Tax | $7,084,330 | | State Tax(4.5%) | $2,466,000 | | Net Lumpsum Payment | $32,097,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,836,222 |
$639,733
$82,630 |
$1,113,859 |
| 2 |
$1,928,088 |
$673,723
$86,764 |
$1,167,601 |
| 3 |
$2,024,468 |
$709,384
$91,101 |
$1,223,983 |
| 4 |
$2,125,728 |
$746,850
$95,658 |
$1,283,220 |
| 5 |
$2,231,990 |
$786,167
$100,440 |
$1,345,383 |
| 6 |
$2,343,620 |
$827,470
$105,463 |
$1,410,687 |
| 7 |
$2,460,740 |
$870,804
$110,733 |
$1,479,203 |
| 8 |
$2,583,838 |
$916,350
$116,273 |
$1,551,215 |
| 9 |
$2,713,036 |
$964,154
$122,087 |
$1,626,795 |
| 10 |
$2,848,700 |
$1,014,349
$128,192 |
$1,706,159 |
| 11 |
$2,991,074 |
$1,067,028
$134,598 |
$1,789,448 |
| 12 |
$3,140,646 |
$1,122,369
$141,329 |
$1,876,948 |
| 13 |
$3,297,660 |
$1,180,465
$148,395 |
$1,968,800 |
| 14 |
$3,462,604 |
$1,241,494
$155,817 |
$2,065,293 |
| 15 |
$3,635,722 |
$1,305,548
$163,607 |
$2,166,567 |
| 16 |
$3,817,502 |
$1,372,806
$171,788 |
$2,272,908 |
| 17 |
$4,008,310 |
$1,443,405
$180,374 |
$2,384,531 |
| 18 |
$4,208,756 |
$1,517,570
$189,394 |
$2,501,792 |
| 19 |
$4,419,206 |
$1,595,437
$198,864 |
$2,624,905 |
| 20 |
$4,640,148 |
$1,677,185
$208,807 |
$2,754,156 |
| 21 |
$4,872,192 |
$1,763,041
$219,249 |
$2,889,902 |
| 22 |
$5,115,826 |
$1,853,186
$230,212 |
$3,032,428 |
| 23 |
$5,371,538 |
$1,947,799
$241,719 |
$3,182,020 |
| 24 |
$5,640,182 |
$2,047,198
$253,808 |
$3,339,176 |
| 25 |
$5,922,124 |
$2,151,516
$266,496 |
$3,504,112 |
| 26 |
$6,218,340 |
$2,261,116
$279,825 |
$3,677,399 |
| 27 |
$6,529,196 |
$2,376,133
$293,814 |
$3,859,249 |
| 28 |
$6,855,668 |
$2,496,928
$308,505 |
$4,050,235 |
| 29 |
$7,198,488 |
$2,623,771
$323,932 |
$4,250,785 |
| 30 |
$7,558,388 |
$2,756,934
$340,127 |
$4,461,327 |
|
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