Arizona Lottery

AZLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Sep 20, 2024 is estimated to be $47 Million, with a cash option of 23.9 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 Sep 20, 2024

Draw Date	Jackpot	Cash Option
Fri Sep 20, 2024	$47,000,000	$23,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$23,900,000
Federal Tax(24%)	$5,736,000
Additional Federal Tax	$3,067,330
State Tax(2.5%)	$597,500
Net Lumpsum Payment	$14,499,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$707,397	-$222,067 -$17,685	$467,645
2	$742,788	-$235,162 -$18,570	$489,056
3	$779,918	-$248,900 -$19,498	$511,520
4	$818,928	-$263,334 -$20,473	$535,121
5	$859,865	-$278,480 -$21,497	$559,888
6	$902,870	-$294,392 -$22,572	$585,906
7	$947,990	-$311,087 -$23,700	$613,203
8	$995,413	-$328,633 -$24,885	$641,895
9	$1,045,186	-$347,049 -$26,130	$672,007
10	$1,097,450	-$366,387 -$27,436	$703,627
11	$1,152,299	-$386,681 -$28,807	$736,811
12	$1,209,921	-$408,001 -$30,248	$771,672
13	$1,270,410	-$430,382 -$31,760	$808,268
14	$1,333,954	-$453,893 -$33,349	$846,712
15	$1,400,647	-$478,570 -$35,016	$887,061
16	$1,470,677	-$504,481 -$36,767	$929,429
17	$1,544,185	-$531,679 -$38,605	$973,901
18	$1,621,406	-$560,251 -$40,535	$1,020,620
19	$1,702,481	-$590,248 -$42,562	$1,069,671
20	$1,787,598	-$621,742 -$44,690	$1,121,166
21	$1,876,992	-$654,817 -$46,925	$1,175,250
22	$1,970,851	-$689,545 -$49,271	$1,232,035
23	$2,069,363	-$725,995 -$51,734	$1,291,634
24	$2,172,857	-$764,287 -$54,321	$1,354,249
25	$2,281,474	-$804,476 -$57,037	$1,419,961
26	$2,395,590	-$846,699 -$59,890	$1,489,001
27	$2,515,346	-$891,008 -$62,884	$1,561,454
28	$2,641,118	-$937,544 -$66,028	$1,637,546
29	$2,773,188	-$986,410 -$69,330	$1,717,448
30	$2,911,838	-$1,037,710 -$72,796	$1,801,332