USA Mega

Arkansas Mega Millions Jackpot Annuity Payout Schedule for Jun 7, 2024

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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 $20,000,000 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, Jun 7, 2024
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$11,740$213,554
2$316,080$81,003$12,327$222,750
3$331,884$86,534$12,943$232,406
4$348,478$92,342$13,591$242,546
5$365,902$98,441$14,270$253,192
6$384,197$104,844$14,984$264,370
7$403,407$111,567$15,733$276,107
8$423,578$118,627$16,520$288,431
9$444,757$126,040$17,346$301,371
10$466,994$133,823$18,213$314,959
11$490,344$141,995$19,123$329,225
12$514,861$150,576$20,080$344,205
13$540,604$159,586$21,084$359,934
14$567,635$169,047$22,138$376,450
15$596,016$178,980$23,245$393,791
16$625,817$189,740$24,407$411,670
17$657,108$201,318$25,627$430,163
18$689,963$213,474$26,909$449,581
19$724,461$226,238$28,254$469,969
20$760,685$239,641$29,667$491,377
21$798,719$253,714$31,150$513,855
22$838,655$268,490$32,708$537,457
23$880,587$284,005$34,343$562,239
24$924,617$300,296$36,060$588,261
25$970,848$317,401$37,863$615,583
26$1,019,390$335,362$39,756$644,272
27$1,070,360$354,221$41,744$674,395
28$1,123,878$374,022$43,831$706,024
29$1,180,071$394,814$46,023$739,234
30$1,239,075$416,645$48,324$774,106
Total$20,000,000$6,198,521$780,003$13,021,477

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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.