USA Mega

Arkansas Mega Millions Jackpot Annuity Payout Schedule for Aug 14, 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 $17,000,000 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, Aug 14, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$9,979$185,965
2$268,668$64,409$10,478$193,781
3$282,102$69,110$11,002$201,989
4$296,207$74,047$11,552$210,607
5$311,017$79,231$12,130$219,657
6$326,568$84,673$12,736$229,158
7$342,896$90,388$13,373$239,135
8$360,041$96,389$14,042$249,610
9$378,043$102,690$14,744$260,610
10$396,945$109,306$15,481$272,159
11$416,792$116,252$16,255$284,285
12$437,632$123,546$17,068$297,018
13$459,514$131,205$17,921$310,388
14$482,489$139,246$18,817$324,426
15$506,614$147,690$19,758$339,166
16$531,945$156,555$20,746$354,643
17$558,542$165,864$21,783$370,894
18$586,469$175,639$22,872$387,958
19$615,792$186,031$24,016$405,745
20$646,582$197,423$25,217$423,942
21$678,911$209,385$26,478$443,049
22$712,856$221,945$27,801$463,110
23$748,499$235,132$29,191$484,175
24$785,924$248,980$30,651$506,293
25$825,220$263,519$32,184$529,518
26$866,482$278,786$33,793$553,903
27$909,806$294,816$35,482$579,507
28$955,296$311,647$37,257$606,392
29$1,003,061$329,320$39,119$634,621
30$1,053,214$347,877$41,075$664,262
Total$17,000,000$5,111,032$663,001$11,225,966

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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.