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Arkansas Mega Millions Jackpot Annuity Payout Schedule for Feb 7, 2023

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The tax information provided here is based on 2022 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $31,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

Arkansas

Drawing Date:Tue, Feb 7, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 4.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$22,863$306,670
2$489,924$145,226$24,006$320,691
3$514,420$153,800$25,207$335,414
4$540,141$162,807$26,467$350,867
5$567,149$172,800$27,790$366,558
6$595,506$183,292$29,180$383,034
7$625,281$194,309$30,639$400,333
8$656,545$205,877$32,171$418,498
9$689,373$218,023$33,779$437,570
10$723,841$230,776$35,468$457,597
11$760,033$244,167$37,242$478,624
12$798,035$258,228$39,104$500,703
13$837,937$272,992$41,059$523,886
14$879,834$288,493$43,112$548,228
15$923,825$304,770$45,267$573,787
16$970,016$321,861$47,531$600,625
17$1,018,517$339,806$49,907$628,804
18$1,069,443$358,649$52,403$658,391
19$1,122,915$378,434$55,023$689,459
20$1,179,061$399,208$57,774$722,079
21$1,238,014$421,020$60,663$756,331
22$1,299,915$443,923$63,696$792,295
23$1,364,911$467,972$66,881$830,058
24$1,433,156$493,223$70,225$869,709
25$1,504,814$519,736$73,736$911,342
26$1,580,055$547,575$77,423$955,057
27$1,659,057$576,806$81,294$1,000,957
28$1,742,010$607,499$85,358$1,049,153
29$1,829,111$639,726$89,626$1,099,758
30$1,920,566$673,564$94,108$1,152,894
Total$31,000,000$10,361,623$1,519,002$19,119,372

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.