Arkansas Lottery

ARLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Nov 22, 2024 is estimated to be $453 Million, with a cash option of 209.6 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 Arkansas, your state will take 4.9% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Arkansas MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024

Draw Date	Jackpot	Cash Option
Fri Nov 22, 2024	$453,000,000	$209,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$209,600,000
Federal Tax(24%)	$50,304,000
Additional Federal Tax	$27,208,330
State Tax(4.9%)	$10,270,400
Net Lumpsum Payment	$121,817,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,818,103	-$2,483,028 -$334,087	$4,000,988
2	$7,159,212	-$2,609,239 -$350,801	$4,199,172
3	$7,517,082	-$2,741,651 -$368,337	$4,407,094
4	$7,893,072	-$2,880,767 -$386,761	$4,625,544
5	$8,287,635	-$3,026,755 -$406,094	$4,854,786
6	$8,702,130	-$3,180,118 -$426,404	$5,095,608
7	$9,137,010	-$3,341,024 -$447,713	$5,348,273
8	$9,594,087	-$3,510,143 -$470,110	$5,613,834
9	$10,073,814	-$3,687,642 -$493,617	$5,892,555
10	$10,577,550	-$3,874,024 -$518,300	$6,185,226
11	$11,106,201	-$4,069,625 -$544,204	$6,492,372
12	$11,661,579	-$4,275,115 -$571,417	$6,815,047
13	$12,244,590	-$4,490,829 -$599,985	$7,153,776
14	$12,857,046	-$4,717,437 -$629,995	$7,509,614
15	$13,499,853	-$4,955,276 -$661,493	$7,883,084
16	$14,174,823	-$5,205,015 -$694,566	$8,275,242
17	$14,883,315	-$5,467,157 -$729,282	$8,686,876
18	$15,627,594	-$5,742,540 -$765,752	$9,119,302
19	$16,409,019	-$6,031,667 -$804,042	$9,573,310
20	$17,229,402	-$6,335,209 -$844,241	$10,049,952
21	$18,091,008	-$6,654,003 -$886,459	$10,550,546
22	$18,995,649	-$6,988,721 -$930,787	$11,076,141
23	$19,945,137	-$7,340,031 -$977,312	$11,627,794
24	$20,942,643	-$7,709,108 -$1,026,190	$12,207,345
25	$21,989,526	-$8,096,455 -$1,077,487	$12,815,584
26	$23,089,410	-$8,503,412 -$1,131,381	$13,454,617
27	$24,243,654	-$8,930,482 -$1,187,939	$14,125,233
28	$25,455,882	-$9,379,007 -$1,247,338	$14,829,537
29	$26,728,812	-$9,849,991 -$1,309,712	$15,569,109
30	$28,065,162	-$10,344,440 -$1,375,193	$16,345,529