USA Mega

Arkansas Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $11,000,000 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, Jul 21, 1998
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$6,457$126,330
2$173,844$34,765$6,780$132,299
3$182,536$36,851$7,119$138,566
4$191,663$39,042$7,475$145,147
5$201,246$42,085$7,849$151,312
6$211,309$45,305$8,241$157,762
7$221,874$48,686$8,653$164,535
8$232,968$52,236$9,086$171,646
9$244,616$55,990$9,540$179,086
10$256,847$60,271$10,017$186,559
11$269,689$64,766$10,518$194,405
12$283,174$69,486$11,044$202,644
13$297,332$74,441$11,596$211,295
14$312,199$79,644$12,176$220,379
15$327,809$85,108$12,785$229,917
16$344,199$90,845$13,424$239,931
17$361,409$96,868$14,095$250,446
18$379,480$103,193$14,800$261,487
19$398,454$109,834$15,540$273,081
20$418,376$116,807$16,317$285,253
21$439,295$124,128$17,133$298,035
22$461,260$131,816$17,989$311,455
23$484,323$139,888$18,889$325,547
24$508,539$148,363$19,833$340,343
25$533,966$157,263$20,825$355,879
26$560,665$166,607$21,866$372,191
27$588,698$176,419$22,959$389,320
28$618,133$186,897$24,107$407,129
29$649,039$198,332$25,313$425,394
30$681,491$210,340$26,578$444,574
Total$11,000,000$2,979,054$429,004$7,591,947

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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.