Arizona Lottery

AZLottery 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 Arizona, your state will take 2.5% 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.

Arizona 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(2.5%)	$5,240,000
Net Lumpsum Payment	$126,847,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,818,103	-$2,483,028 -$170,453	$4,164,622
2	$7,159,212	-$2,609,239 -$178,980	$4,370,993
3	$7,517,082	-$2,741,651 -$187,927	$4,587,504
4	$7,893,072	-$2,880,767 -$197,327	$4,814,978
5	$8,287,635	-$3,026,755 -$207,191	$5,053,689
6	$8,702,130	-$3,180,118 -$217,553	$5,304,459
7	$9,137,010	-$3,341,024 -$228,425	$5,567,561
8	$9,594,087	-$3,510,143 -$239,852	$5,844,092
9	$10,073,814	-$3,687,642 -$251,845	$6,134,327
10	$10,577,550	-$3,874,024 -$264,439	$6,439,087
11	$11,106,201	-$4,069,625 -$277,655	$6,758,921
12	$11,661,579	-$4,275,115 -$291,539	$7,094,925
13	$12,244,590	-$4,490,829 -$306,115	$7,447,646
14	$12,857,046	-$4,717,437 -$321,426	$7,818,183
15	$13,499,853	-$4,955,276 -$337,496	$8,207,081
16	$14,174,823	-$5,205,015 -$354,371	$8,615,437
17	$14,883,315	-$5,467,157 -$372,083	$9,044,075
18	$15,627,594	-$5,742,540 -$390,690	$9,494,364
19	$16,409,019	-$6,031,667 -$410,225	$9,967,127
20	$17,229,402	-$6,335,209 -$430,735	$10,463,458
21	$18,091,008	-$6,654,003 -$452,275	$10,984,730
22	$18,995,649	-$6,988,721 -$474,891	$11,532,037
23	$19,945,137	-$7,340,031 -$498,628	$12,106,478
24	$20,942,643	-$7,709,108 -$523,566	$12,709,969
25	$21,989,526	-$8,096,455 -$549,738	$13,343,333
26	$23,089,410	-$8,503,412 -$577,235	$14,008,763
27	$24,243,654	-$8,930,482 -$606,091	$14,707,081
28	$25,455,882	-$9,379,007 -$636,397	$15,440,478
29	$26,728,812	-$9,849,991 -$668,220	$16,210,601
30	$28,065,162	-$10,344,440 -$701,629	$17,019,093