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Arkansas Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2014

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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 $120,000,000 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, Oct 3, 2014
Jackpot:$120,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$626,471$70,441$1,109,260
2$1,896,481$659,886$73,963$1,162,632
3$1,991,305$694,971$77,661$1,218,673
4$2,090,870$731,810$81,544$1,277,517
5$2,195,414$770,491$85,621$1,339,302
6$2,305,184$811,106$89,902$1,404,176
7$2,420,444$853,752$94,397$1,472,294
8$2,541,466$898,530$99,117$1,543,818
9$2,668,539$945,547$104,073$1,618,919
10$2,801,966$994,915$109,277$1,697,774
11$2,942,064$1,046,752$114,741$1,780,572
12$3,089,167$1,101,180$120,478$1,867,510
13$3,243,626$1,158,329$126,501$1,958,795
14$3,405,807$1,218,336$132,826$2,054,644
15$3,576,097$1,281,344$139,468$2,155,286
16$3,754,902$1,347,502$146,441$2,260,960
17$3,942,647$1,416,967$153,763$2,371,917
18$4,139,780$1,489,906$161,451$2,488,422
19$4,346,769$1,566,492$169,524$2,610,753
20$4,564,107$1,646,907$178,000$2,739,200
21$4,792,313$1,731,343$186,900$2,874,069
22$5,031,928$1,820,001$196,245$3,015,682
23$5,283,525$1,913,092$206,057$3,164,375
24$5,547,701$2,010,837$216,360$3,320,503
25$5,825,086$2,113,470$227,178$3,484,438
26$6,116,340$2,221,234$238,537$3,656,569
27$6,422,157$2,334,386$250,464$3,837,307
28$6,743,265$2,453,196$262,987$4,027,082
29$7,080,428$2,577,946$276,137$4,226,345
30$7,434,450$2,708,934$289,944$4,435,572
Total$120,000,000$43,145,633$4,679,998$72,174,366

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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.