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Arkansas Mega Millions Jackpot Annuity Payout Schedule for Sep 17, 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 $31,000,000 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, Sep 17, 2024
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 3.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$133,683$18,197$314,714
2$489,924$141,848$19,107$328,969
3$514,420$150,422$20,062$343,936
4$540,141$159,424$21,066$359,652
5$567,149$168,877$22,119$376,153
6$595,506$178,802$23,225$393,479
7$625,281$189,542$24,386$411,353
8$656,545$201,110$25,605$429,831
9$689,373$213,256$26,886$449,231
10$723,841$226,009$28,230$469,602
11$760,033$239,400$29,641$490,992
12$798,035$253,461$31,123$513,451
13$837,937$268,224$32,680$537,033
14$879,834$283,726$34,314$561,794
15$923,825$300,003$36,029$587,793
16$970,016$317,094$37,831$615,092
17$1,018,517$335,039$39,722$643,756
18$1,069,443$353,882$41,708$673,853
19$1,122,915$373,666$43,794$705,455
20$1,179,061$394,440$45,983$738,637
21$1,238,014$416,253$48,283$773,479
22$1,299,915$439,156$50,697$810,062
23$1,364,911$463,205$53,232$848,474
24$1,433,156$488,455$55,893$888,807
25$1,504,814$514,969$58,688$931,157
26$1,580,055$542,808$61,622$975,624
27$1,659,057$572,039$64,703$1,022,315
28$1,742,010$602,731$67,938$1,071,340
29$1,829,111$634,959$71,335$1,122,817
30$1,920,566$668,797$74,902$1,176,867
Total$31,000,000$10,225,280$1,209,001$19,565,718

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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.