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Arkansas Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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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 $56,000,000 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, Mar 22, 2002
Jackpot:$56,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$842,880$270,053$37,087$535,740
2$885,024$285,647$38,941$560,437
3$929,276$302,020$40,888$586,368
4$975,739$319,211$42,933$613,596
5$1,024,526$337,262$45,079$642,185
6$1,075,753$356,216$47,333$672,203
7$1,129,540$376,118$49,700$703,723
8$1,186,017$397,014$52,185$736,818
9$1,245,318$418,955$54,794$771,569
10$1,307,584$441,994$57,534$808,057
11$1,372,963$466,184$60,410$846,369
12$1,441,611$491,584$63,431$886,597
13$1,513,692$518,254$66,602$928,836
14$1,589,377$546,257$69,933$973,187
15$1,668,845$575,661$73,429$1,019,756
16$1,752,288$606,534$77,101$1,068,653
17$1,839,902$638,952$80,956$1,119,995
18$1,931,897$672,990$85,003$1,173,904
19$2,028,492$708,730$89,254$1,230,509
20$2,129,917$746,257$93,716$1,289,943
21$2,236,413$785,660$98,402$1,352,350
22$2,348,233$827,034$103,322$1,417,877
23$2,465,645$870,476$108,488$1,486,680
24$2,588,927$916,091$113,913$1,558,923
25$2,718,373$963,986$119,608$1,634,779
26$2,854,292$1,014,276$125,589$1,714,427
27$2,997,007$1,067,080$131,868$1,798,058
28$3,146,857$1,122,525$138,462$1,885,870
29$3,304,200$1,180,742$145,385$1,978,073
30$3,469,410$1,241,869$152,654$2,074,886
Total$56,000,000$19,465,632$2,464,000$34,070,368

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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.