The jackpot for the MEGA Millions draw on Fri Nov 22, 2024, is projected to be $453 Million, with an option for a cash payout of $209.6 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 Arkansas residents, the state will deduct 4.9% from your lottery earnings.
| Arkansas MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024 |
|---|
| Draw Date | Fri Nov 22, 2024 | | Projected Jackpot | $453,000,000 | | Cash Value | $209,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
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 |
|
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