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Arkansas Mega Millions Jackpot Annuity Payout Schedule for Dec 1, 2023

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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 $355,000,000 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, Dec 1, 2023
Jackpot:$355,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,343,259$1,935,194$235,103$3,172,962
2$5,610,422$2,034,044$246,859$3,329,520
3$5,890,943$2,137,837$259,202$3,493,905
4$6,185,491$2,246,819$272,162$3,666,510
5$6,494,765$2,361,251$285,770$3,847,745
6$6,819,503$2,481,404$300,058$4,038,041
7$7,160,479$2,607,565$315,061$4,237,853
8$7,518,503$2,740,034$330,814$4,447,655
9$7,894,428$2,879,126$347,355$4,667,947
10$8,289,149$3,025,173$364,723$4,899,254
11$8,703,607$3,178,522$382,959$5,142,126
12$9,138,787$3,339,539$402,107$5,397,141
13$9,595,726$3,508,606$422,212$5,664,908
14$10,075,513$3,686,127$443,323$5,946,063
15$10,579,288$3,872,524$465,489$6,241,275
16$11,108,253$4,068,241$488,763$6,551,248
17$11,663,665$4,273,744$513,201$6,876,720
18$12,246,849$4,489,522$538,861$7,218,466
19$12,859,191$4,716,088$565,804$7,577,298
20$13,502,151$4,953,983$594,095$7,954,072
21$14,177,258$5,203,773$623,799$8,349,685
22$14,886,121$5,466,052$654,989$8,765,079
23$15,630,427$5,741,446$687,739$9,201,243
24$16,411,948$6,030,609$722,126$9,659,214
25$17,232,546$6,334,230$758,232$10,140,084
26$18,094,173$6,653,032$796,144$10,644,998
27$18,998,882$6,987,774$835,951$11,175,157
28$19,948,826$7,339,253$877,748$11,731,824
29$20,946,267$7,708,307$921,636$12,316,325
30$21,993,581$8,095,813$967,718$12,930,050
Total$355,000,001$130,095,632$15,620,003$209,284,368

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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.