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Arkansas Mega Millions Jackpot Annuity Payout Schedule for Aug 22, 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 $33,000,000 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, Aug 22, 2023
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$144,219$19,371$333,107
2$521,532$152,911$20,340$348,281
3$547,609$162,038$21,357$364,214
4$574,989$171,621$22,425$380,944
5$603,739$181,683$23,546$398,510
6$633,926$192,740$24,723$416,462
7$665,622$204,468$25,959$435,195
8$698,903$216,782$27,257$454,864
9$733,848$229,712$28,620$475,517
10$770,541$243,288$30,051$497,202
11$809,068$257,543$31,554$519,971
12$849,521$272,511$33,131$543,879
13$891,997$288,227$34,788$568,983
14$936,597$304,729$36,527$595,341
15$983,427$322,056$38,354$623,017
16$1,032,598$340,249$40,271$652,078
17$1,084,228$359,352$42,285$682,591
18$1,138,439$379,410$44,399$714,630
19$1,195,361$400,471$46,619$748,271
20$1,255,129$422,586$48,950$783,594
21$1,317,886$445,806$51,398$820,683
22$1,383,780$470,186$53,967$859,626
23$1,452,969$495,786$56,666$900,517
24$1,525,618$522,666$59,499$943,452
25$1,601,899$550,890$62,474$988,534
26$1,681,994$580,525$65,598$1,035,870
27$1,766,093$611,642$68,878$1,085,573
28$1,854,398$644,315$72,322$1,137,761
29$1,947,118$678,621$75,938$1,192,559
30$2,044,474$714,643$79,734$1,250,096
Total$33,000,000$10,961,676$1,287,001$20,751,322

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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.