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Mega Millions Annuity Jackpot Analysis for Arkansas

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $378,000,000 would be for a resident of Arkansas, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Arkansas

Drawing Date:  Fri, Jun 5, 2020
Jackpot:$378,000,000
Federal Tax:  24%
State Tax:7.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,689,442$1,365,466$398,261$3,925,715
2$5,973,915$1,433,740$418,174$4,122,001
3$6,272,610$1,505,426$439,083$4,328,101
4$6,586,241$1,580,698$461,037$4,544,506
5$6,915,553$1,659,733$484,089$4,771,731
6$7,261,330$1,742,719$508,293$5,010,318
7$7,624,397$1,829,855$533,708$5,260,834
8$8,005,617$1,921,348$560,393$5,523,876
9$8,405,898$2,017,415$588,413$5,800,070
10$8,826,193$2,118,286$617,833$6,090,073
11$9,267,502$2,224,201$648,725$6,394,577
12$9,730,877$2,335,411$681,161$6,714,305
13$10,217,421$2,452,181$715,219$7,050,021
14$10,728,292$2,574,790$750,980$7,402,522
15$11,264,707$2,703,530$788,529$7,772,648
16$11,827,942$2,838,706$827,956$8,161,280
17$12,419,339$2,980,641$869,354$8,569,344
18$13,040,306$3,129,674$912,821$8,997,811
19$13,692,322$3,286,157$958,463$9,447,702
20$14,376,938$3,450,465$1,006,386$9,920,087
21$15,095,785$3,622,988$1,056,705$10,416,091
22$15,850,574$3,804,138$1,109,540$10,936,896
23$16,643,103$3,994,345$1,165,017$11,483,741
24$17,475,258$4,194,062$1,223,268$12,057,928
25$18,349,020$4,403,765$1,284,431$12,660,824
26$19,266,472$4,623,953$1,348,653$13,293,866
27$20,229,795$4,855,151$1,416,086$13,958,559
28$21,241,285$5,097,908$1,486,890$14,656,486
29$22,303,349$5,352,804$1,561,234$15,389,311
30$23,418,517$5,620,444$1,639,296$16,158,777
Total$378,000,001$90,720,000$26,460,000$260,820,001
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