USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Dec 6, 1996

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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 $9,000,000 for a ticket purchased in 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 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:

Oklahoma

Drawing Date:Fri, Dec 6, 1996
Jackpot:$9,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$135,463$25,554$6,434$103,475
2$142,236$27,179$6,756$108,301
3$149,348$28,886$7,094$113,368
4$156,815$30,678$7,449$118,688
5$164,656$32,560$7,821$124,275
6$172,889$34,536$8,212$130,141
7$181,533$36,610$8,623$136,300
8$190,610$38,789$9,054$142,767
9$200,140$41,731$9,507$148,902
10$210,147$44,934$9,982$155,232
11$220,655$48,296$10,481$161,878
12$231,688$51,827$11,005$168,856
13$243,272$55,534$11,555$176,183
14$255,436$59,777$12,133$183,525
15$268,207$64,247$12,740$191,220
16$281,618$68,941$13,377$199,300
17$295,699$73,869$14,046$207,784
18$310,483$79,044$14,748$216,692
19$326,008$84,477$15,485$226,045
20$342,308$90,183$16,260$235,866
21$359,423$96,173$17,073$246,178
22$377,395$102,463$17,926$257,006
23$396,264$109,067$18,823$268,375
24$416,078$116,002$19,764$280,312
25$436,881$123,283$20,752$292,846
26$458,726$130,929$21,789$306,007
27$481,662$138,956$22,879$319,826
28$505,745$147,385$24,023$334,337
29$531,032$156,236$25,224$349,572
30$557,584$165,529$26,485$365,569
Total$9,000,000$2,303,675$427,500$6,268,826

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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.