Jackpot Analysis Arizona Mega Millions

Jackpot Analysis for Arizona Mega Millions
The jackpot for the MEGA Millions draw on Tue Oct 1, 2024, is projected to be $93 Million, with an option for a cash payout of $46 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 Tue Oct 1, 2024
Draw DateTue Oct 1, 2024
Projected Jackpot$93,000,000
Cash Value$46,000,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$46,000,000
Federal Tax(24%)$11,040,000
Additional Federal Tax$5,940,330
State Tax(2.5%)$0
Net Lumpsum Payment$0
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment