Arkansas Lottery

ARLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 31, 2025 is estimated to be $59 Million, with a cash option of 26.5 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 Jan 31, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 31, 2025	$59,000,000	$26,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$26,500,000
Federal Tax(24%)	$6,360,000
Additional Federal Tax	$3,405,330
State Tax(4.9%)	$1,298,500
Net Lumpsum Payment	$15,436,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$888,009	-$288,894 -$43,512	$555,603
2	$932,436	-$305,332 -$45,689	$581,415
3	$979,046	-$322,577 -$47,973	$608,496
4	$1,028,016	-$340,696 -$50,373	$636,947
5	$1,079,405	-$359,710 -$52,891	$666,804
6	$1,133,390	-$379,685 -$55,536	$698,169
7	$1,190,030	-$400,641 -$58,311	$731,078
8	$1,249,561	-$422,668 -$61,228	$765,665
9	$1,312,042	-$445,786 -$64,290	$801,966
10	$1,377,650	-$470,061 -$67,505	$840,084
11	$1,446,503	-$495,536 -$70,879	$880,088
12	$1,518,837	-$522,300 -$74,423	$922,114
13	$1,594,770	-$550,395 -$78,144	$966,231
14	$1,674,538	-$579,909 -$82,052	$1,012,577
15	$1,758,259	-$610,886 -$86,155	$1,061,218
16	$1,846,169	-$643,413 -$90,462	$1,112,294
17	$1,938,445	-$677,555 -$94,984	$1,165,906
18	$2,035,382	-$713,422 -$99,734	$1,222,226
19	$2,137,157	-$751,078 -$104,721	$1,281,358
20	$2,244,006	-$790,613 -$109,956	$1,343,437
21	$2,356,224	-$832,133 -$115,455	$1,408,636
22	$2,474,047	-$875,728 -$121,228	$1,477,091
23	$2,597,711	-$921,483 -$127,288	$1,548,940
24	$2,727,629	-$969,553 -$133,654	$1,624,422
25	$2,863,978	-$1,020,002 -$140,335	$1,703,641
26	$3,007,230	-$1,073,005 -$147,354	$1,786,871
27	$3,157,562	-$1,128,628 -$154,721	$1,874,213
28	$3,315,446	-$1,187,045 -$162,457	$1,965,944
29	$3,481,236	-$1,248,388 -$170,581	$2,062,267
30	$3,655,286	-$1,312,786 -$179,109	$2,163,391