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Mega Millions Annuity Jackpot Analysis for Arkansas (Apr. 14, 2020 Drawing)

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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 $145,000,000 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:  Apr. 14, 2020
Jackpot:$145,000,000
Federal Tax:  24%
State Tax:7.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,182,458$523,790$152,772$1,505,896
2$2,291,581$549,979$160,411$1,581,191
3$2,406,160$577,478$168,431$1,660,250
4$2,526,468$606,352$176,853$1,743,263
5$2,652,791$636,670$185,695$1,830,426
6$2,785,431$668,503$194,980$1,921,947
7$2,924,703$701,929$204,729$2,018,045
8$3,070,938$737,025$214,966$2,118,947
9$3,224,485$773,876$225,714$2,224,894
10$3,385,709$812,570$237,000$2,336,139
11$3,554,994$853,199$248,850$2,452,946
12$3,732,744$895,859$261,292$2,575,593
13$3,919,381$940,651$274,357$2,704,373
14$4,115,350$987,684$288,075$2,839,592
15$4,321,118$1,037,068$302,478$2,981,571
16$4,537,174$1,088,922$317,602$3,130,650
17$4,764,032$1,143,368$333,482$3,287,182
18$5,002,234$1,200,536$350,156$3,451,541
19$5,252,346$1,260,563$367,664$3,624,118
20$5,514,963$1,323,591$386,047$3,805,324
21$5,790,711$1,389,771$405,350$3,995,591
22$6,080,247$1,459,259$425,617$4,195,370
23$6,384,259$1,532,222$446,898$4,405,139
24$6,703,472$1,608,833$469,243$4,625,396
25$7,038,645$1,689,275$492,705$4,856,665
26$7,390,578$1,773,739$517,340$5,099,499
27$7,760,107$1,862,426$543,207$5,354,474
28$8,148,112$1,955,547$570,368$5,622,197
29$8,555,518$2,053,324$598,886$5,903,307
30$8,983,293$2,155,990$628,831$6,198,472
Total$145,000,000$34,800,000$10,150,000$100,050,000
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