The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 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 Arkansas residents, the state will deduct 4.9% from your lottery earnings.
| Arkansas MEGA Millions Jackpot/Cash Option for Fri Nov 15, 2024 |
|---|
| Draw Date | Fri Nov 15, 2024 | | Projected Jackpot | $387,000,000 | | Cash Value | $181,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,400,000 | | Federal Tax(24%) | $43,536,000 | | Additional Federal Tax | $23,542,330 | | State Tax(4.9%) | $8,888,600 | | Net Lumpsum Payment | $105,433,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$285,412 |
$3,423,842 |
| 2 |
$6,116,148 |
$2,223,305
$299,691 |
$3,593,152 |
| 3 |
$6,421,878 |
$2,336,425
$314,672 |
$3,770,781 |
| 4 |
$6,743,088 |
$2,455,273
$330,411 |
$3,957,404 |
| 5 |
$7,080,165 |
$2,579,991
$346,928 |
$4,153,246 |
| 6 |
$7,434,270 |
$2,711,010
$364,279 |
$4,358,981 |
| 7 |
$7,805,790 |
$2,848,473
$382,484 |
$4,574,833 |
| 8 |
$8,196,273 |
$2,992,951
$401,617 |
$4,801,705 |
| 9 |
$8,606,106 |
$3,144,590
$421,699 |
$5,039,817 |
| 10 |
$9,036,450 |
$3,303,817
$442,786 |
$5,289,847 |
| 11 |
$9,488,079 |
$3,470,920
$464,916 |
$5,552,243 |
| 12 |
$9,962,541 |
$3,646,471
$488,165 |
$5,827,905 |
| 13 |
$10,460,610 |
$3,830,756
$512,570 |
$6,117,284 |
| 14 |
$10,983,834 |
$4,024,349
$538,208 |
$6,421,277 |
| 15 |
$11,532,987 |
$4,227,536
$565,116 |
$6,740,335 |
| 16 |
$12,109,617 |
$4,440,889
$593,371 |
$7,075,357 |
| 17 |
$12,714,885 |
$4,664,838
$623,029 |
$7,427,018 |
| 18 |
$13,350,726 |
$4,900,099
$654,186 |
$7,796,441 |
| 19 |
$14,018,301 |
$5,147,102
$686,897 |
$8,184,302 |
| 20 |
$14,719,158 |
$5,406,419
$721,239 |
$8,591,500 |
| 21 |
$15,455,232 |
$5,678,766
$757,306 |
$9,019,160 |
| 22 |
$16,228,071 |
$5,964,717
$795,175 |
$9,468,179 |
| 23 |
$17,039,223 |
$6,264,843
$834,922 |
$9,939,458 |
| 24 |
$17,891,397 |
$6,580,147
$876,678 |
$10,434,572 |
| 25 |
$18,785,754 |
$6,911,059
$920,502 |
$10,954,193 |
| 26 |
$19,725,390 |
$7,258,725
$966,544 |
$11,500,121 |
| 27 |
$20,711,466 |
$7,623,573
$1,014,862 |
$12,073,031 |
| 28 |
$21,747,078 |
$8,006,749
$1,065,607 |
$12,674,722 |
| 29 |
$22,834,548 |
$8,409,113
$1,118,893 |
$13,306,542 |
| 30 |
$23,976,198 |
$8,831,524
$1,174,834 |
$13,969,840 |
|
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