USA Mega

Arizona Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 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 $122,000,000 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, Sep 8, 2023
Jackpot:$122,000,000
Federal Tax:37% marginal rate
State Tax: 2.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,836,275$637,610$45,907$1,152,759
2$1,928,089$671,581$48,202$1,208,306
3$2,024,493$707,250$50,612$1,266,631
4$2,125,718$744,703$53,143$1,327,872
5$2,232,004$784,029$55,800$1,392,175
6$2,343,604$825,321$58,590$1,459,693
7$2,460,784$868,678$61,520$1,530,587
8$2,583,823$914,202$64,596$1,605,025
9$2,713,015$962,003$67,825$1,683,186
10$2,848,665$1,012,194$71,217$1,765,255
11$2,991,099$1,064,894$74,777$1,851,427
12$3,140,654$1,120,230$78,516$1,941,908
13$3,297,686$1,178,332$82,442$2,036,912
14$3,462,571$1,239,339$86,564$2,136,667
15$3,635,699$1,303,396$90,892$2,241,410
16$3,817,484$1,370,657$95,437$2,351,390
17$4,008,358$1,441,280$100,209$2,466,869
18$4,208,776$1,515,435$105,219$2,588,122
19$4,419,215$1,593,297$110,480$2,715,437
20$4,640,176$1,675,053$116,004$2,849,119
21$4,872,184$1,760,896$121,805$2,989,484
22$5,115,794$1,851,031$127,895$3,136,867
23$5,371,583$1,945,674$134,290$3,291,620
24$5,640,162$2,045,048$141,004$3,454,111
25$5,922,171$2,149,391$148,054$3,624,725
26$6,218,279$2,258,951$155,457$3,803,871
27$6,529,193$2,373,989$163,230$3,991,974
28$6,855,653$2,494,779$171,391$4,189,482
29$7,198,435$2,621,609$179,961$4,396,866
30$7,558,357$2,754,780$188,959$4,614,618
Total$122,000,000$43,885,632$3,049,998$75,064,368

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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.