The jackpot for the MEGA Millions draw on Fri May 10, 2024, is projected to be $331 Million, with an option for a cash payout of $153.1 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 Arizona residents, the state will deduct 2.5% from your lottery earnings.
| Arizona MEGA Millions Jackpot/Cash Option for Fri May 10, 2024 |
|---|
| Draw Date | Fri May 10, 2024 | | Projected Jackpot | $331,000,000 | | Cash Value | $153,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $153,100,000 | | Federal Tax(24%) | $36,744,000 | | Additional Federal Tax | $19,863,330 | | State Tax(2.5%) | $3,827,500 | | Net Lumpsum Payment | $92,665,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,981,881 |
$1,803,626
$124,547 |
$3,053,708 |
| 2 |
$5,231,124 |
$1,895,846
$130,778 |
$3,204,500 |
| 3 |
$5,492,614 |
$1,992,598
$137,315 |
$3,362,701 |
| 4 |
$5,767,344 |
$2,094,248
$144,184 |
$3,528,912 |
| 5 |
$6,055,645 |
$2,200,919
$151,391 |
$3,703,335 |
| 6 |
$6,358,510 |
$2,312,979
$158,963 |
$3,886,568 |
| 7 |
$6,676,270 |
$2,430,550
$166,907 |
$4,078,813 |
| 8 |
$7,010,249 |
$2,554,123
$175,256 |
$4,280,870 |
| 9 |
$7,360,778 |
$2,683,818
$184,019 |
$4,492,941 |
| 10 |
$7,728,850 |
$2,820,005
$193,221 |
$4,715,624 |
| 11 |
$8,115,127 |
$2,962,927
$202,878 |
$4,949,322 |
| 12 |
$8,520,933 |
$3,113,076
$213,023 |
$5,194,834 |
| 13 |
$8,946,930 |
$3,270,694
$223,673 |
$5,452,563 |
| 14 |
$9,394,442 |
$3,436,274
$234,861 |
$5,723,307 |
| 15 |
$9,864,131 |
$3,610,059
$246,603 |
$6,007,469 |
| 16 |
$10,357,321 |
$3,792,539
$258,933 |
$6,305,849 |
| 17 |
$10,875,005 |
$3,984,082
$271,875 |
$6,619,048 |
| 18 |
$11,418,838 |
$4,185,300
$285,471 |
$6,948,067 |
| 19 |
$11,989,813 |
$4,396,561
$299,745 |
$7,293,507 |
| 20 |
$12,589,254 |
$4,618,354
$314,731 |
$7,656,169 |
| 21 |
$13,218,816 |
$4,851,292
$330,470 |
$8,037,054 |
| 22 |
$13,879,823 |
$5,095,865
$346,996 |
$8,436,962 |
| 23 |
$14,573,599 |
$5,352,562
$364,340 |
$8,856,697 |
| 24 |
$15,302,461 |
$5,622,241
$382,562 |
$9,297,658 |
| 25 |
$16,067,402 |
$5,905,269
$401,685 |
$9,760,448 |
| 26 |
$16,871,070 |
$6,202,626
$421,777 |
$10,246,667 |
| 27 |
$17,714,458 |
$6,514,680
$442,861 |
$10,756,917 |
| 28 |
$18,600,214 |
$6,842,410
$465,005 |
$11,292,799 |
| 29 |
$19,530,324 |
$7,186,550
$488,258 |
$11,855,516 |
| 30 |
$20,506,774 |
$7,547,837
$512,669 |
$12,446,268 |
|
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