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 Arizona residents, the state will deduct 2.5% from your lottery earnings.
| Arizona 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(2.5%) | $2,297,500 | | Net Lumpsum Payment | $55,639,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$74,126 |
$1,833,523 |
| 2 |
$3,113,388 |
$1,112,284
$77,835 |
$1,923,269 |
| 3 |
$3,269,018 |
$1,169,867
$81,725 |
$2,017,426 |
| 4 |
$3,432,528 |
$1,230,366
$85,813 |
$2,116,349 |
| 5 |
$3,604,115 |
$1,293,853
$90,103 |
$2,220,159 |
| 6 |
$3,784,370 |
$1,360,547
$94,609 |
$2,329,214 |
| 7 |
$3,973,490 |
$1,430,522
$99,337 |
$2,443,631 |
| 8 |
$4,172,263 |
$1,504,068
$104,307 |
$2,563,888 |
| 9 |
$4,380,886 |
$1,581,258
$109,522 |
$2,690,106 |
| 10 |
$4,599,950 |
$1,662,312
$114,999 |
$2,822,639 |
| 11 |
$4,829,849 |
$1,747,375
$120,746 |
$2,961,728 |
| 12 |
$5,071,371 |
$1,836,738
$126,784 |
$3,107,849 |
| 13 |
$5,324,910 |
$1,930,547
$133,123 |
$3,261,240 |
| 14 |
$5,591,254 |
$2,029,094
$139,781 |
$3,422,379 |
| 15 |
$5,870,797 |
$2,132,525
$146,770 |
$3,591,502 |
| 16 |
$6,164,327 |
$2,241,131
$154,108 |
$3,769,088 |
| 17 |
$6,472,435 |
$2,355,131
$161,811 |
$3,955,493 |
| 18 |
$6,796,106 |
$2,474,890
$169,903 |
$4,151,313 |
| 19 |
$7,135,931 |
$2,600,625
$178,398 |
$4,356,908 |
| 20 |
$7,492,698 |
$2,732,629
$187,317 |
$4,572,752 |
| 21 |
$7,867,392 |
$2,871,265
$196,685 |
$4,799,442 |
| 22 |
$8,260,801 |
$3,016,827
$206,520 |
$5,037,454 |
| 23 |
$8,673,713 |
$3,169,604
$216,843 |
$5,287,266 |
| 24 |
$9,107,507 |
$3,330,108
$227,688 |
$5,549,711 |
| 25 |
$9,562,774 |
$3,498,557
$239,069 |
$5,825,148 |
| 26 |
$10,041,090 |
$3,675,534
$251,027 |
$6,114,529 |
| 27 |
$10,543,046 |
$3,861,257
$263,576 |
$6,418,213 |
| 28 |
$11,070,218 |
$4,056,311
$276,755 |
$6,737,152 |
| 29 |
$11,623,788 |
$4,261,132
$290,595 |
$7,072,061 |
| 30 |
$12,204,938 |
$4,476,157
$305,123 |
$7,423,658 |
|
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