USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $12,000,000 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, Sep 8, 1998
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$36,391$4,515$139,711
2$189,648$38,558$4,741$146,349
3$199,130$41,408$4,978$152,744
4$209,087$44,594$5,227$159,265
5$219,541$47,940$5,489$166,113
6$230,518$51,452$5,763$173,303
7$242,044$55,141$6,051$180,853
8$254,147$59,326$6,354$188,467
9$266,854$63,774$6,671$196,409
10$280,197$68,444$7,005$204,748
11$294,206$73,347$7,355$213,504
12$308,917$78,496$7,723$222,698
13$324,363$83,902$8,109$232,352
14$340,581$89,578$8,515$242,488
15$357,610$95,538$8,940$253,131
16$375,490$101,796$9,387$264,307
17$394,265$108,367$9,857$276,041
18$413,978$115,267$10,349$288,361
19$434,677$122,512$10,867$301,298
20$456,411$130,119$11,410$314,882
21$479,231$138,106$11,981$329,145
22$503,193$146,492$12,580$344,121
23$528,352$155,298$13,209$359,846
24$554,770$164,544$13,869$376,357
25$582,509$174,253$14,563$393,693
26$611,634$184,492$15,291$411,851
27$642,216$195,808$16,055$430,353
28$674,327$207,689$16,858$449,780
29$708,043$220,164$17,701$470,178
30$743,445$233,262$18,586$491,596
Total$12,000,000$3,326,058$299,999$8,373,944

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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.