The jackpot for the MEGA Millions draw on Tue Nov 26, 2024, is projected to be $489 Million, with an option for a cash payout of $225.3 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 Tue Nov 26, 2024 |
|---|
| Draw Date | Tue Nov 26, 2024 | | Projected Jackpot | $489,000,000 | | Cash Value | $225,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $225,300,000 | | Federal Tax(24%) | $54,072,000 | | Additional Federal Tax | $29,249,330 | | State Tax(4.9%) | $11,039,700 | | Net Lumpsum Payment | $130,938,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,359,939 |
$2,683,508
$360,637 |
$4,315,794 |
| 2 |
$7,728,156 |
$2,819,748
$378,680 |
$4,529,728 |
| 3 |
$8,114,466 |
$2,962,683
$397,609 |
$4,754,174 |
| 4 |
$8,520,336 |
$3,112,855
$417,496 |
$4,989,985 |
| 5 |
$8,946,255 |
$3,270,445
$438,366 |
$5,237,444 |
| 6 |
$9,393,690 |
$3,435,996
$460,291 |
$5,497,403 |
| 7 |
$9,863,130 |
$3,609,688
$483,293 |
$5,770,149 |
| 8 |
$10,356,531 |
$3,792,247
$507,470 |
$6,056,814 |
| 9 |
$10,874,382 |
$3,983,852
$532,845 |
$6,357,685 |
| 10 |
$11,418,150 |
$4,185,046
$559,489 |
$6,673,615 |
| 11 |
$11,988,813 |
$4,396,191
$587,452 |
$7,005,170 |
| 12 |
$12,588,327 |
$4,618,011
$616,828 |
$7,353,488 |
| 13 |
$13,217,670 |
$4,850,868
$647,666 |
$7,719,136 |
| 14 |
$13,878,798 |
$5,095,486
$680,061 |
$8,103,251 |
| 15 |
$14,572,689 |
$5,352,225
$714,062 |
$8,506,402 |
| 16 |
$15,301,299 |
$5,621,811
$749,764 |
$8,929,724 |
| 17 |
$16,066,095 |
$5,904,786
$787,239 |
$9,374,070 |
| 18 |
$16,869,522 |
$6,202,054
$826,607 |
$9,840,861 |
| 19 |
$17,713,047 |
$6,514,158
$867,939 |
$10,330,950 |
| 20 |
$18,598,626 |
$6,841,822
$911,333 |
$10,845,471 |
| 21 |
$19,528,704 |
$7,185,951
$956,906 |
$11,385,847 |
| 22 |
$20,505,237 |
$7,547,268
$1,004,757 |
$11,953,212 |
| 23 |
$21,530,181 |
$7,926,497
$1,054,979 |
$12,548,705 |
| 24 |
$22,606,959 |
$8,324,905
$1,107,741 |
$13,174,313 |
| 25 |
$23,737,038 |
$8,743,034
$1,163,115 |
$13,830,889 |
| 26 |
$24,924,330 |
$9,182,332
$1,221,292 |
$14,520,706 |
| 27 |
$26,170,302 |
$9,643,342
$1,282,345 |
$15,244,615 |
| 28 |
$27,478,866 |
$10,127,511
$1,346,464 |
$16,004,891 |
| 29 |
$28,852,956 |
$10,635,924
$1,413,795 |
$16,803,237 |
| 30 |
$30,295,506 |
$11,169,668
$1,484,480 |
$17,641,358 |
|
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