USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Jul 28, 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 $940,000,000 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, Jul 28, 2023
Jackpot:$940,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,148,349$5,193,077$353,709$8,601,563
2$14,855,767$5,454,821$371,394$9,029,551
3$15,598,555$5,729,653$389,964$9,478,938
4$16,378,483$6,018,226$409,462$9,950,794
5$17,197,406$6,321,228$429,935$10,446,243
6$18,057,277$6,639,380$451,432$10,966,465
7$18,960,141$6,973,440$474,004$11,512,698
8$19,908,148$7,324,203$497,704$12,086,242
9$20,903,556$7,692,503$522,589$12,688,463
10$21,948,733$8,079,219$548,718$13,320,796
11$23,046,170$8,485,271$576,154$13,984,745
12$24,198,478$8,911,625$604,962$14,681,892
13$25,408,402$9,359,297$635,210$15,413,896
14$26,678,822$9,829,352$666,971$16,182,500
15$28,012,763$10,322,910$700,319$16,989,534
16$29,413,402$10,841,146$735,335$17,836,920
17$30,884,071$11,385,294$772,102$18,726,675
18$32,428,275$11,956,650$810,707$19,660,919
19$34,049,689$12,556,573$851,242$20,641,874
20$35,752,173$13,186,492$893,804$21,671,877
21$37,539,782$13,847,907$938,495$22,753,380
22$39,416,771$14,542,393$985,419$23,888,959
23$41,387,610$15,271,603$1,034,690$25,081,316
24$43,456,990$16,037,274$1,086,425$26,333,291
25$45,629,839$16,841,228$1,140,746$27,647,865
26$47,911,332$17,685,381$1,197,783$29,028,168
27$50,306,898$18,571,740$1,257,672$30,477,486
28$52,822,243$19,502,417$1,320,556$31,999,269
29$55,463,355$20,479,629$1,386,584$33,597,142
30$58,236,523$21,505,701$1,455,913$35,274,909
Total$940,000,002$346,545,633$23,500,000$569,954,370

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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.