Arizona Lottery

AZLottery 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 Arizona, your state will take 2.5% 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.

Arizona 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(2.5%)	$852,500
Net Lumpsum Payment	$20,670,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,158,927	-$389,133 -$28,973	$740,821
2	$1,216,908	-$410,586 -$30,423	$775,899
3	$1,277,738	-$433,093 -$31,943	$812,702
4	$1,341,648	-$456,740 -$33,541	$851,367
5	$1,408,715	-$481,555 -$35,218	$891,942
6	$1,479,170	-$507,623 -$36,979	$934,568
7	$1,553,090	-$534,974 -$38,827	$979,289
8	$1,630,783	-$563,720 -$40,770	$1,026,293
9	$1,712,326	-$593,891 -$42,808	$1,075,627
10	$1,797,950	-$625,572 -$44,949	$1,127,429
11	$1,887,809	-$658,820 -$47,195	$1,181,794
12	$1,982,211	-$693,748 -$49,555	$1,238,908
13	$2,081,310	-$730,415 -$52,033	$1,298,862
14	$2,185,414	-$768,934 -$54,635	$1,361,845
15	$2,294,677	-$809,361 -$57,367	$1,427,949
16	$2,409,407	-$851,811 -$60,235	$1,497,361
17	$2,529,835	-$896,369 -$63,246	$1,570,220
18	$2,656,346	-$943,178 -$66,409	$1,646,759
19	$2,789,171	-$992,324 -$69,729	$1,727,118
20	$2,928,618	-$1,043,919 -$73,215	$1,811,484
21	$3,075,072	-$1,098,107 -$76,877	$1,900,088
22	$3,228,841	-$1,155,002 -$80,721	$1,993,118
23	$3,390,233	-$1,214,717 -$84,756	$2,090,760
24	$3,559,787	-$1,277,452 -$88,995	$2,193,340
25	$3,737,734	-$1,343,292 -$93,443	$2,300,999
26	$3,924,690	-$1,412,466 -$98,117	$2,414,107
27	$4,120,886	-$1,485,058 -$103,022	$2,532,806
28	$4,326,938	-$1,561,297 -$108,173	$2,657,468
29	$4,543,308	-$1,641,354 -$113,583	$2,788,371
30	$4,770,458	-$1,725,400 -$119,261	$2,925,797