USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Jan 23, 1998

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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 $5,000,000 for a ticket purchased in Arizona, 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:

Arizona

Drawing Date:Fri, Jan 23, 1998
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,610$1,881$61,766
2$79,020$12,437$1,976$64,607
3$82,971$13,307$2,074$67,590
4$87,120$14,219$2,178$70,722
5$91,476$15,178$2,287$74,011
6$96,049$16,184$2,401$77,464
7$100,852$17,247$2,521$81,084
8$105,894$18,457$2,647$84,790
9$111,189$19,728$2,780$88,682
10$116,749$21,062$2,919$92,768
11$122,586$22,463$3,065$97,058
12$128,715$23,934$3,218$101,563
13$135,151$25,479$3,379$106,294
14$141,909$27,101$3,548$111,260
15$149,004$28,803$3,725$116,475
16$156,454$30,592$3,911$121,951
17$164,277$32,469$4,107$127,701
18$172,491$34,440$4,312$133,738
19$181,115$36,510$4,528$140,077
20$190,171$38,684$4,754$146,733
21$199,680$41,584$4,992$153,104
22$209,664$44,779$5,242$159,643
23$220,147$48,133$5,504$166,510
24$231,154$51,656$5,779$173,720
25$242,712$55,354$6,068$181,290
26$254,848$59,571$6,371$188,905
27$267,590$64,031$6,690$196,869
28$280,969$68,714$7,024$205,231
29$295,018$73,631$7,375$214,011
30$309,769$78,794$7,744$223,231
Total$5,000,000$1,046,151$125,000$3,828,848

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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.