Arkansas Lottery

ARLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 10, 2025 is estimated to be $77 Million, with a cash option of 34.1 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Arkansas, your state will take 4.9% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Arkansas MEGA Millions Jackpot/Cash Option for Fri Jan 10, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 10, 2025	$77,000,000	$34,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,100,000
Federal Tax(24%)	$8,184,000
Additional Federal Tax	$4,393,330
State Tax(4.9%)	$1,670,900
Net Lumpsum Payment	$19,851,770

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,158,927	-$389,133 -$56,787	$713,007
2	$1,216,908	-$410,586 -$59,628	$746,694
3	$1,277,738	-$433,093 -$62,609	$782,036
4	$1,341,648	-$456,740 -$65,741	$819,167
5	$1,408,715	-$481,555 -$69,027	$858,133
6	$1,479,170	-$507,623 -$72,479	$899,068
7	$1,553,090	-$534,974 -$76,101	$942,015
8	$1,630,783	-$563,720 -$79,908	$987,155
9	$1,712,326	-$593,891 -$83,904	$1,034,531
10	$1,797,950	-$625,572 -$88,100	$1,084,278
11	$1,887,809	-$658,820 -$92,503	$1,136,486
12	$1,982,211	-$693,748 -$97,128	$1,191,335
13	$2,081,310	-$730,415 -$101,984	$1,248,911
14	$2,185,414	-$768,934 -$107,085	$1,309,395
15	$2,294,677	-$809,361 -$112,439	$1,372,877
16	$2,409,407	-$851,811 -$118,061	$1,439,535
17	$2,529,835	-$896,369 -$123,962	$1,509,504
18	$2,656,346	-$943,178 -$130,161	$1,583,007
19	$2,789,171	-$992,324 -$136,669	$1,660,178
20	$2,928,618	-$1,043,919 -$143,502	$1,741,197
21	$3,075,072	-$1,098,107 -$150,679	$1,826,286
22	$3,228,841	-$1,155,002 -$158,213	$1,915,626
23	$3,390,233	-$1,214,717 -$166,121	$2,009,395
24	$3,559,787	-$1,277,452 -$174,430	$2,107,905
25	$3,737,734	-$1,343,292 -$183,149	$2,211,293
26	$3,924,690	-$1,412,466 -$192,310	$2,319,914
27	$4,120,886	-$1,485,058 -$201,923	$2,433,905
28	$4,326,938	-$1,561,297 -$212,020	$2,553,621
29	$4,543,308	-$1,641,354 -$222,622	$2,679,332
30	$4,770,458	-$1,725,400 -$233,752	$2,811,306