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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 $192,000,000 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:  Tue, Apr 23, 2019
Jackpot:$192,000,000
Federal Tax:  24%
State Tax:7.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,889,876$693,570$202,291$1,994,014
2$3,034,369$728,249$212,406$2,093,715
3$3,186,088$764,661$223,026$2,198,401
4$3,345,392$802,894$234,177$2,308,321
5$3,512,662$843,039$245,886$2,423,737
6$3,688,295$885,191$258,181$2,544,923
7$3,872,710$929,450$271,090$2,672,170
8$4,066,345$975,923$284,644$2,805,778
9$4,269,662$1,024,719$298,876$2,946,067
10$4,483,145$1,075,955$313,820$3,093,370
11$4,707,303$1,129,753$329,511$3,248,039
12$4,942,668$1,186,240$345,987$3,410,441
13$5,189,801$1,245,552$363,286$3,580,963
14$5,449,291$1,307,830$381,450$3,760,011
15$5,721,756$1,373,221$400,523$3,948,012
16$6,007,844$1,441,883$420,549$4,145,412
17$6,308,236$1,513,977$441,577$4,352,683
18$6,623,648$1,589,675$463,655$4,570,317
19$6,954,830$1,669,159$486,838$4,798,833
20$7,302,572$1,752,617$511,180$5,038,774
21$7,667,700$1,840,248$536,739$5,290,713
22$8,051,085$1,932,260$563,576$5,555,249
23$8,453,639$2,028,873$591,755$5,833,011
24$8,876,321$2,130,317$621,342$6,124,662
25$9,320,137$2,236,833$652,410$6,430,895
26$9,786,144$2,348,675$685,030$6,752,440
27$10,275,452$2,466,108$719,282$7,090,062
28$10,789,224$2,589,414$755,246$7,444,565
29$11,328,685$2,718,884$793,008$7,816,793
30$11,895,120$2,854,829$832,658$8,207,633
Total$192,000,000$46,080,000$13,440,000$132,480,000
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