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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 2022 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 prize 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: 4.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$631,239$88,502$1,086,431
2$1,896,481$664,653$92,928$1,138,900
3$1,991,305$699,738$97,574$1,193,993
4$2,090,870$736,577$102,453$1,251,841
5$2,195,414$775,258$107,575$1,312,580
6$2,305,184$815,873$112,954$1,376,357
7$2,420,444$858,519$118,602$1,443,323
8$2,541,466$903,297$124,532$1,513,637
9$2,668,539$950,314$130,758$1,587,466
10$2,801,966$999,682$137,296$1,664,987
11$2,942,064$1,051,519$144,161$1,746,384
12$3,089,167$1,105,947$151,369$1,831,851
13$3,243,626$1,163,097$158,938$1,921,592
14$3,405,807$1,223,104$166,885$2,015,819
15$3,576,097$1,286,111$175,229$2,114,758
16$3,754,902$1,352,269$183,990$2,218,643
17$3,942,647$1,421,735$193,190$2,327,723
18$4,139,780$1,494,674$202,849$2,442,257
19$4,346,769$1,571,259$212,992$2,562,518
20$4,564,107$1,651,675$223,641$2,688,791
21$4,792,313$1,736,111$234,823$2,821,379
22$5,031,928$1,824,768$246,564$2,960,595
23$5,283,525$1,917,859$258,893$3,106,773
24$5,547,701$2,015,604$271,837$3,260,259
25$5,825,086$2,118,237$285,429$3,421,420
26$6,116,340$2,226,001$299,701$3,590,639
27$6,422,157$2,339,153$314,686$3,768,318
28$6,743,265$2,457,963$330,420$3,954,882
29$7,080,428$2,582,713$346,941$4,150,774
30$7,434,450$2,713,701$364,288$4,356,460
Total$120,000,000$43,288,650$5,880,000$70,831,350

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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.