USA Mega

Arkansas Mega Millions Jackpot Annuity Payout Schedule for Oct 13, 1998

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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 $35,000,000 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:Tue, Oct 13, 1998
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$526,800$154,755$20,545$351,500
2$553,140$163,974$21,572$367,594
3$580,797$173,654$22,651$384,492
4$609,837$183,827$23,784$402,226
5$640,329$195,109$24,973$420,247
6$672,345$206,956$26,221$439,168
7$705,963$219,394$27,533$459,036
8$741,261$232,454$28,909$479,897
9$778,324$246,168$30,355$501,802
10$817,240$260,567$31,872$524,801
11$858,102$275,686$33,466$548,951
12$901,007$291,560$35,139$574,307
13$946,058$308,229$36,896$600,932
14$993,360$325,731$38,741$628,888
15$1,043,028$344,108$40,678$658,242
16$1,095,180$363,404$42,712$689,064
17$1,149,939$383,665$44,848$721,426
18$1,207,436$404,939$47,090$755,407
19$1,267,808$427,277$49,444$791,087
20$1,331,198$450,731$51,917$828,550
21$1,397,758$475,358$54,513$867,887
22$1,467,646$501,217$57,238$909,191
23$1,541,028$528,368$60,100$952,560
24$1,618,079$556,877$63,105$998,097
25$1,698,983$586,812$66,260$1,045,911
26$1,783,933$618,243$69,573$1,096,116
27$1,873,129$651,246$73,052$1,148,832
28$1,966,786$685,898$76,705$1,204,183
29$2,065,125$722,284$80,540$1,262,301
30$2,168,381$760,489$84,567$1,323,326
Total$35,000,000$11,698,980$1,364,999$21,936,021

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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.