USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 2023

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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 $640,000,000 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, Jul 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,522,368$240,823$5,869,728
2$10,114,564$3,700,577$252,864$6,161,124
3$10,620,292$3,887,696$265,507$6,467,089
4$11,151,308$4,084,172$278,783$6,788,353
5$11,708,872$4,290,471$292,722$7,125,680
6$12,294,316$4,507,085$307,358$7,479,874
7$12,909,032$4,734,530$322,726$7,851,777
8$13,554,484$4,973,347$338,862$8,242,275
9$14,232,208$5,224,105$355,805$8,652,298
10$14,943,818$5,487,400$373,595$9,082,822
11$15,691,009$5,763,861$392,275$9,534,873
12$16,475,560$6,054,145$411,889$10,009,526
13$17,299,338$6,358,943$432,483$10,507,911
14$18,164,305$6,678,980$454,108$11,031,217
15$19,072,520$7,015,020$476,813$11,580,687
16$20,026,146$7,367,862$500,654$12,157,631
17$21,027,453$7,738,345$525,686$12,763,421
18$22,078,826$8,127,353$551,971$13,399,502
19$23,182,767$8,535,811$579,569$14,067,386
20$24,341,905$8,964,693$608,548$14,768,665
21$25,559,000$9,415,018$638,975$15,505,007
22$26,836,950$9,887,859$670,924$16,278,167
23$28,178,798$10,384,343$704,470$17,089,985
24$29,587,738$10,905,651$739,693$17,942,393
25$31,067,124$11,453,024$776,678$18,837,423
26$32,620,481$12,027,766$815,512$19,777,203
27$34,251,505$12,631,245$856,288$20,763,973
28$35,964,080$13,264,897$899,102$21,800,081
29$37,762,284$13,930,233$944,057$22,887,994
30$39,650,399$14,628,835$991,260$24,030,303
Total$640,000,001$235,545,635$16,000,000$388,454,368

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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.