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 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 $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$36,195$4,515$139,907
2$189,648$38,363$4,741$146,544
3$199,130$40,785$4,978$153,367
4$209,087$43,971$5,227$159,889
5$219,541$47,316$5,489$166,737
6$230,518$50,829$5,763$173,927
7$242,044$54,517$6,051$181,476
8$254,147$58,499$6,354$189,294
9$266,854$62,946$6,671$197,236
10$280,197$67,616$7,005$205,576
11$294,206$72,519$7,355$214,332
12$308,917$77,668$7,723$223,526
13$324,363$83,074$8,109$233,179
14$340,581$88,750$8,515$243,316
15$357,610$94,711$8,940$253,959
16$375,490$100,969$9,387$265,134
17$394,265$107,540$9,857$276,868
18$413,978$114,440$10,349$289,189
19$434,677$121,684$10,867$302,126
20$456,411$129,291$11,410$315,709
21$479,231$137,278$11,981$329,972
22$503,193$145,665$12,580$344,948
23$528,352$154,471$13,209$360,673
24$554,770$163,717$13,869$377,184
25$582,509$173,425$14,563$394,521
26$611,634$183,619$15,291$412,724
27$642,216$194,640$16,055$431,520
28$674,327$206,521$16,858$450,947
29$708,043$218,996$17,701$471,346
30$743,445$232,095$18,586$492,764
Total$12,000,000$3,302,110$299,999$8,397,890

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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.