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Powerball Annuity Jackpot Analysis for Oklahoma

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $128,000,000 would be for a resident of Oklahoma, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Oklahoma

Drawing Date:  Sat, Apr 19, 2014
Jackpot:$128,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,282,253$570,563$91,290$1,620,399
2$2,373,543$593,386$94,942$1,685,215
3$2,468,485$617,121$98,739$1,752,624
4$2,567,224$641,806$102,689$1,822,729
5$2,669,913$667,478$106,797$1,895,638
6$2,776,709$694,177$111,068$1,971,464
7$2,887,778$721,944$115,511$2,050,322
8$3,003,289$750,822$120,132$2,132,335
9$3,123,420$780,855$124,937$2,217,628
10$3,248,357$812,089$129,934$2,306,334
11$3,378,291$844,573$135,132$2,398,587
12$3,513,423$878,356$140,537$2,494,530
13$3,653,960$913,490$146,158$2,594,312
14$3,800,118$950,030$152,005$2,698,084
15$3,952,123$988,031$158,085$2,806,007
16$4,110,208$1,027,552$164,408$2,918,248
17$4,274,616$1,068,654$170,985$3,034,978
18$4,445,601$1,111,400$177,824$3,156,377
19$4,623,425$1,155,856$184,937$3,282,632
20$4,808,362$1,202,091$192,334$3,413,937
21$5,000,697$1,250,174$200,028$3,550,495
22$5,200,725$1,300,181$208,029$3,692,514
23$5,408,754$1,352,188$216,350$3,840,215
24$5,625,104$1,406,276$225,004$3,993,824
25$5,850,108$1,462,527$234,004$4,153,577
26$6,084,112$1,521,028$243,364$4,319,720
27$6,327,477$1,581,869$253,099$4,492,508
28$6,580,576$1,645,144$263,223$4,672,209
29$6,843,799$1,710,950$273,752$4,859,097
30$7,117,551$1,779,388$284,702$5,053,461
Total$128,000,000$32,000,000$5,120,000$90,880,000
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