USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 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 $25,000,000 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, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$9,407$264,804
2$395,100$108,660$9,878$276,563
3$414,855$115,574$10,371$288,910
4$435,598$122,834$10,890$301,874
5$457,378$130,457$11,434$315,486
6$480,247$138,461$12,006$329,779
7$504,259$146,865$12,606$344,787
8$529,472$155,690$13,237$360,545
9$555,946$164,956$13,899$377,091
10$583,743$174,685$14,594$394,465
11$612,930$184,972$15,323$412,635
12$643,577$196,311$16,089$431,176
13$675,755$208,217$16,894$450,644
14$709,543$220,719$17,739$471,086
15$745,020$233,845$18,626$492,550
16$782,271$247,628$19,557$515,086
17$821,385$262,100$20,535$538,750
18$862,454$277,296$21,561$563,597
19$905,577$293,251$22,639$589,686
20$950,856$310,004$23,771$617,080
21$998,398$327,595$24,960$645,843
22$1,048,318$346,066$26,208$676,045
23$1,100,734$365,459$27,518$707,757
24$1,155,771$385,823$28,894$741,054
25$1,213,560$407,205$30,339$776,016
26$1,274,238$429,656$31,856$812,726
27$1,337,949$453,229$33,449$851,272
28$1,404,847$477,981$35,121$891,745
29$1,475,089$503,971$36,877$934,241
30$1,548,844$531,260$38,721$978,863
Total$25,000,000$8,022,845$624,999$16,352,156

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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.