The jackpot for the MEGA Millions draw on Fri Feb 28, 2025, is projected to be $197 Million, with an option for a cash payout of $91.9 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 Feb 28, 2025 |
|---|
| Draw Date | Fri Feb 28, 2025 | | Projected Jackpot | $197,000,000 | | Cash Value | $91,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $91,900,000 | | Federal Tax(24%) | $22,056,000 | | Additional Federal Tax | $11,907,330 | | State Tax(4.9%) | $4,503,100 | | Net Lumpsum Payment | $53,433,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$145,287 |
$1,762,362 |
| 2 |
$3,113,388 |
$1,112,284
$152,556 |
$1,848,548 |
| 3 |
$3,269,018 |
$1,169,867
$160,182 |
$1,938,969 |
| 4 |
$3,432,528 |
$1,230,366
$168,194 |
$2,033,968 |
| 5 |
$3,604,115 |
$1,293,853
$176,602 |
$2,133,660 |
| 6 |
$3,784,370 |
$1,360,547
$185,434 |
$2,238,389 |
| 7 |
$3,973,490 |
$1,430,522
$194,701 |
$2,348,267 |
| 8 |
$4,172,263 |
$1,504,068
$204,441 |
$2,463,754 |
| 9 |
$4,380,886 |
$1,581,258
$214,663 |
$2,584,965 |
| 10 |
$4,599,950 |
$1,662,312
$225,398 |
$2,712,240 |
| 11 |
$4,829,849 |
$1,747,375
$236,663 |
$2,845,811 |
| 12 |
$5,071,371 |
$1,836,738
$248,497 |
$2,986,136 |
| 13 |
$5,324,910 |
$1,930,547
$260,921 |
$3,133,442 |
| 14 |
$5,591,254 |
$2,029,094
$273,971 |
$3,288,189 |
| 15 |
$5,870,797 |
$2,132,525
$287,669 |
$3,450,603 |
| 16 |
$6,164,327 |
$2,241,131
$302,052 |
$3,621,144 |
| 17 |
$6,472,435 |
$2,355,131
$317,149 |
$3,800,155 |
| 18 |
$6,796,106 |
$2,474,890
$333,009 |
$3,988,207 |
| 19 |
$7,135,931 |
$2,600,625
$349,661 |
$4,185,645 |
| 20 |
$7,492,698 |
$2,732,629
$367,142 |
$4,392,927 |
| 21 |
$7,867,392 |
$2,871,265
$385,502 |
$4,610,625 |
| 22 |
$8,260,801 |
$3,016,827
$404,779 |
$4,839,195 |
| 23 |
$8,673,713 |
$3,169,604
$425,012 |
$5,079,097 |
| 24 |
$9,107,507 |
$3,330,108
$446,268 |
$5,331,131 |
| 25 |
$9,562,774 |
$3,498,557
$468,576 |
$5,595,641 |
| 26 |
$10,041,090 |
$3,675,534
$492,013 |
$5,873,543 |
| 27 |
$10,543,046 |
$3,861,257
$516,609 |
$6,165,180 |
| 28 |
$11,070,218 |
$4,056,311
$542,441 |
$6,471,466 |
| 29 |
$11,623,788 |
$4,261,132
$569,566 |
$6,793,090 |
| 30 |
$12,204,938 |
$4,476,157
$598,042 |
$7,130,739 |
|
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