USA Mega

Arkansas Mega Millions Jackpot Annuity Payout Schedule for Feb 16, 1999

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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 $12,000,000 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, Feb 16, 1999
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$36,391$7,947$136,279
2$189,648$38,558$8,345$142,746
3$199,130$41,408$8,762$148,960
4$209,087$44,594$9,200$155,293
5$219,541$47,940$9,660$161,942
6$230,518$51,452$10,143$168,923
7$242,044$55,141$10,650$176,254
8$254,147$59,326$11,182$183,638
9$266,854$63,774$11,742$191,339
10$280,197$68,444$12,329$199,424
11$294,206$73,347$12,945$207,914
12$308,917$78,496$13,592$216,829
13$324,363$83,902$14,272$226,189
14$340,581$89,578$14,986$236,017
15$357,610$95,538$15,735$246,337
16$375,490$101,796$16,522$257,172
17$394,265$108,367$17,348$268,550
18$413,978$115,267$18,215$280,496
19$434,677$122,512$19,126$293,039
20$456,411$130,119$20,082$306,210
21$479,231$138,106$21,086$320,039
22$503,193$146,492$22,140$334,560
23$528,352$155,298$23,248$349,807
24$554,770$164,544$24,410$365,816
25$582,509$174,253$25,630$382,625
26$611,634$184,492$26,912$400,230
27$642,216$195,808$28,257$418,151
28$674,327$207,689$29,670$436,968
29$708,043$220,164$31,154$456,725
30$743,445$233,262$32,712$477,471
Total$12,000,000$3,326,058$528,002$8,145,943

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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.