USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Jun 26, 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 $13,000,000 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, Jun 26, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$4,892$150,476
2$205,452$43,431$5,136$156,885
3$215,725$46,718$5,393$163,613
4$226,511$50,170$5,663$170,678
5$237,836$53,794$5,946$178,096
6$249,728$57,780$6,243$185,705
7$262,215$62,150$6,555$193,509
8$275,325$66,739$6,883$201,704
9$289,092$71,557$7,227$210,308
10$303,546$76,616$7,589$219,342
11$318,724$81,928$7,968$228,828
12$334,660$87,506$8,366$238,788
13$351,393$93,362$8,785$249,246
14$368,962$99,512$9,224$260,227
15$387,411$105,968$9,685$271,757
16$406,781$112,748$10,170$283,863
17$427,120$119,867$10,678$296,575
18$448,476$127,341$11,212$309,923
19$470,900$135,190$11,772$323,938
20$494,445$143,430$12,361$338,653
21$519,167$152,083$12,979$354,105
22$545,126$161,169$13,628$370,329
23$572,382$170,708$14,310$387,364
24$601,001$180,725$15,025$405,251
25$631,051$191,677$15,776$423,598
26$662,604$203,351$16,565$442,687
27$695,734$215,609$17,393$462,731
28$730,520$228,480$18,263$483,777
29$767,046$241,995$19,176$505,875
30$805,399$256,185$20,135$529,078
Total$13,000,000$3,678,089$324,998$8,996,909

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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.