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Arkansas Mega Millions Jackpot Annuity Payout Schedule for Aug 8, 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 $1,602,000,000 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 8, 2023
Jackpot:$1,602,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$24,112,399$8,879,775$940,384$14,292,240
2$25,318,019$9,325,855$987,403$15,004,762
3$26,583,920$9,794,238$1,036,773$15,752,909
4$27,913,117$10,286,041$1,088,612$16,538,464
5$29,308,771$10,802,433$1,143,042$17,363,296
6$30,774,210$11,344,646$1,200,194$18,229,370
7$32,312,922$11,913,969$1,260,204$19,138,749
8$33,928,567$12,511,758$1,323,214$20,093,596
9$35,624,996$13,139,436$1,389,375$21,096,185
10$37,406,245$13,798,498$1,458,844$22,148,903
11$39,276,558$14,490,514$1,531,786$23,254,258
12$41,240,385$15,217,130$1,608,375$24,414,880
13$43,302,404$15,980,077$1,688,794$25,633,533
14$45,467,525$16,781,172$1,773,233$26,913,120
15$47,740,901$17,622,321$1,861,895$28,256,685
16$50,127,947$18,505,528$1,954,990$29,667,429
17$52,634,343$19,432,895$2,052,739$31,148,709
18$55,266,060$20,406,630$2,155,376$32,704,054
19$58,029,363$21,429,052$2,263,145$34,337,166
20$60,930,832$22,502,595$2,376,302$36,051,934
21$63,977,373$23,629,816$2,495,118$37,852,440
22$67,176,241$24,813,397$2,619,873$39,742,971
23$70,535,054$26,056,158$2,750,867$41,728,029
24$74,061,806$27,361,056$2,888,410$43,812,339
25$77,764,896$28,731,199$3,032,831$46,000,866
26$81,653,142$30,169,850$3,184,473$48,298,819
27$85,735,799$31,680,433$3,343,696$50,711,670
28$90,022,588$33,266,545$3,510,881$53,245,162
29$94,523,718$34,931,963$3,686,425$55,905,329
30$99,249,904$36,680,652$3,870,746$58,698,506
Total$1,602,000,003$591,485,632$62,478,000$948,036,373

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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.