The jackpot for the MEGA Millions draw on Fri Feb 7, 2025, is projected to be $94 Million, with an option for a cash payout of $42.3 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 7, 2025 |
|---|
| Draw Date | Fri Feb 7, 2025 | | Projected Jackpot | $94,000,000 | | Cash Value | $42,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $42,300,000 | | Federal Tax(24%) | $10,152,000 | | Additional Federal Tax | $5,459,330 | | State Tax(2.5%) | $1,057,500 | | Net Lumpsum Payment | $25,631,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,414,794 |
$483,804
$35,370 |
$895,620 |
| 2 |
$1,485,576 |
$509,994
$37,139 |
$938,443 |
| 3 |
$1,559,836 |
$537,470
$38,996 |
$983,370 |
| 4 |
$1,637,856 |
$566,337
$40,946 |
$1,030,573 |
| 5 |
$1,719,730 |
$596,630
$42,993 |
$1,080,107 |
| 6 |
$1,805,740 |
$628,454
$45,144 |
$1,132,142 |
| 7 |
$1,895,980 |
$661,843
$47,400 |
$1,186,737 |
| 8 |
$1,990,826 |
$696,936
$49,771 |
$1,244,119 |
| 9 |
$2,090,372 |
$733,768
$52,259 |
$1,304,345 |
| 10 |
$2,194,900 |
$772,443
$54,873 |
$1,367,584 |
| 11 |
$2,304,598 |
$813,032
$57,615 |
$1,433,951 |
| 12 |
$2,419,842 |
$855,672
$60,496 |
$1,503,674 |
| 13 |
$2,540,820 |
$900,434
$63,521 |
$1,576,865 |
| 14 |
$2,667,908 |
$947,456
$66,698 |
$1,653,754 |
| 15 |
$2,801,294 |
$996,809
$70,032 |
$1,734,453 |
| 16 |
$2,941,354 |
$1,048,631
$73,534 |
$1,819,189 |
| 17 |
$3,088,370 |
$1,103,027
$77,209 |
$1,908,134 |
| 18 |
$3,242,812 |
$1,160,171
$81,070 |
$2,001,571 |
| 19 |
$3,404,962 |
$1,220,166
$85,124 |
$2,099,672 |
| 20 |
$3,575,196 |
$1,283,153
$89,380 |
$2,202,663 |
| 21 |
$3,753,984 |
$1,349,304
$93,850 |
$2,310,830 |
| 22 |
$3,941,702 |
$1,418,760
$98,543 |
$2,424,399 |
| 23 |
$4,138,726 |
$1,491,659
$103,468 |
$2,543,599 |
| 24 |
$4,345,714 |
$1,568,245
$108,643 |
$2,668,826 |
| 25 |
$4,562,948 |
$1,648,621
$114,074 |
$2,800,253 |
| 26 |
$4,791,180 |
$1,733,067
$119,780 |
$2,938,333 |
| 27 |
$5,030,692 |
$1,821,686
$125,767 |
$3,083,239 |
| 28 |
$5,282,236 |
$1,914,758
$132,056 |
$3,235,422 |
| 29 |
$5,546,376 |
$2,012,490
$138,659 |
$3,395,227 |
| 30 |
$5,823,676 |
$2,115,091
$145,592 |
$3,562,993 |
|
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