USA Mega

Arkansas Mega Millions Jackpot Annuity Payout Schedule for May 30, 1997

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $8,000,000 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, May 30, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$120,411$21,941$4,696$93,774
2$126,432$23,386$4,931$98,115
3$132,754$24,903$5,177$102,673
4$139,391$26,496$5,436$107,459
5$146,361$28,169$5,708$112,484
6$153,679$29,925$5,993$117,760
7$161,363$31,770$6,293$123,300
8$169,431$33,706$6,608$129,117
9$177,903$35,739$6,938$135,225
10$186,798$37,874$7,285$141,639
11$196,138$40,451$7,649$148,038
12$205,944$43,589$8,032$154,324
13$216,242$46,884$8,433$160,924
14$227,054$50,344$8,855$167,855
15$238,406$53,977$9,298$175,132
16$250,327$57,989$9,763$182,575
17$262,843$62,370$10,251$190,222
18$275,985$66,970$10,763$198,252
19$289,785$71,799$11,302$206,684
20$304,274$76,871$11,867$215,537
21$319,488$82,195$12,460$224,832
22$335,462$87,786$13,083$234,592
23$352,235$93,657$13,737$244,841
24$369,847$99,821$14,424$255,602
25$388,339$106,293$15,145$266,900
26$407,756$113,089$15,902$278,764
27$428,144$120,225$16,698$291,221
28$449,551$127,718$17,532$304,301
29$472,029$135,585$18,409$318,035
30$495,630$143,845$19,330$332,455
Total$8,000,000$1,975,367$311,998$5,712,632

◄ Back to Jackpot Analysis

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.