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Mega Millions Annuity Jackpot Analysis for Arkansas (Aug. 7, 2018 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 $55,000,000 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:  Aug. 7, 2018
Jackpot:$55,000,000
Federal Tax:  24%
State Tax:7.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$827,829$198,679$57,948$571,202
2$869,220$208,613$60,845$599,762
3$912,681$219,044$63,888$629,750
4$958,315$229,996$67,082$661,238
5$1,006,231$241,495$70,436$694,300
6$1,056,543$253,570$73,958$729,015
7$1,109,370$266,249$77,656$765,465
8$1,164,838$279,561$81,539$803,739
9$1,223,080$293,539$85,616$843,925
10$1,284,234$308,216$89,896$886,122
11$1,348,446$323,627$94,391$930,428
12$1,415,868$339,808$99,111$976,949
13$1,486,662$356,799$104,066$1,025,797
14$1,560,995$374,639$109,270$1,077,087
15$1,639,045$393,371$114,733$1,130,941
16$1,720,997$413,039$120,470$1,187,488
17$1,807,047$433,691$126,493$1,246,862
18$1,897,399$455,376$132,818$1,309,205
19$1,992,269$478,145$139,459$1,374,666
20$2,091,882$502,052$146,432$1,443,399
21$2,196,477$527,154$153,753$1,515,569
22$2,306,300$553,512$161,441$1,591,347
23$2,421,615$581,188$169,513$1,670,915
24$2,542,696$610,247$177,989$1,754,460
25$2,669,831$640,759$186,888$1,842,183
26$2,803,323$672,797$196,233$1,934,293
27$2,943,489$706,437$206,044$2,031,007
28$3,090,663$741,759$216,346$2,132,558
29$3,245,196$778,847$227,164$2,239,185
30$3,407,456$817,789$238,522$2,351,145
Total$55,000,000$13,200,000$3,850,000$37,950,000
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