USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Feb 24, 1998

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The tax information provided here is based on 2025 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 $7,000,000 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:Tue, Feb 24, 1998
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,133$2,634$84,593
2$110,628$19,398$2,766$88,465
3$116,159$20,725$2,904$92,530
4$121,967$22,119$3,049$96,799
5$128,066$23,583$3,202$101,281
6$134,469$25,120$3,362$105,988
7$141,193$26,733$3,530$110,930
8$148,252$28,428$3,706$116,118
9$155,665$30,207$3,892$121,567
10$163,448$32,075$4,086$127,287
11$171,620$34,036$4,291$133,294
12$180,201$36,095$4,505$139,601
13$189,212$38,258$4,730$146,223
14$198,672$40,638$4,967$153,067
15$208,606$43,817$5,215$159,574
16$219,036$47,155$5,476$166,406
17$229,988$50,659$5,750$173,579
18$241,487$54,339$6,037$181,111
19$253,562$58,294$6,339$188,929
20$266,240$62,731$6,656$196,852
21$279,552$67,390$6,989$205,172
22$293,529$72,282$7,338$213,908
23$308,206$77,419$7,705$223,081
24$323,616$82,813$8,090$232,713
25$339,797$88,476$8,495$242,826
26$356,787$94,423$8,920$253,444
27$374,626$100,666$9,366$264,594
28$393,357$107,222$9,834$276,301
29$413,025$114,106$10,326$288,593
30$433,676$121,334$10,842$301,500
Total$7,000,000$1,638,674$175,002$5,186,326

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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.