USA Mega

Arkansas Mega Millions Jackpot Annuity Payout Schedule for Nov 21, 1997

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The tax information provided here is based on 2024 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 $15,000,000 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 money, as well as deductions claimed.

State:

Arkansas

Drawing Date:Fri, Nov 21, 1997
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$9,934$165,904
2$237,060$53,546$10,431$173,084
3$248,913$57,494$10,952$180,467
4$261,359$61,850$11,500$188,009
5$274,427$66,424$12,075$195,928
6$288,148$71,227$12,679$204,243
7$302,555$76,269$13,312$212,974
8$317,683$81,564$13,978$222,141
9$333,567$87,123$14,677$231,767
10$350,246$92,961$15,411$241,874
11$367,758$99,090$16,181$252,487
12$386,146$105,526$16,990$263,630
13$405,453$112,283$17,840$275,330
14$425,726$119,379$18,732$287,615
15$447,012$126,829$19,669$300,515
16$469,363$134,652$20,652$314,059
17$492,831$142,866$21,685$328,281
18$517,472$151,490$22,769$343,214
19$543,346$160,546$23,907$358,893
20$570,513$170,054$25,103$375,356
21$599,039$180,038$26,358$392,643
22$628,991$190,914$27,676$410,401
23$660,441$202,551$29,059$428,830
24$693,463$214,769$30,512$448,181
25$728,136$227,598$32,038$468,500
26$764,543$241,068$33,640$489,834
27$802,770$255,213$35,322$512,235
28$842,908$270,064$37,088$535,756
29$885,054$285,658$38,942$560,454
30$929,306$302,031$40,889$586,386
Total$15,000,000$4,391,010$660,001$9,948,991

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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.