USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 1998

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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 $11,000,000 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:Tue, Jul 21, 1998
Jackpot:$11,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$165,566$32,778$7,864$124,923
2$173,844$34,765$8,258$130,821
3$182,536$36,851$8,670$137,015
4$191,663$39,042$9,104$143,517
5$201,246$42,085$9,559$149,602
6$211,309$45,305$10,037$155,966
7$221,874$48,686$10,539$162,649
8$232,968$52,236$11,066$169,666
9$244,616$55,990$11,619$177,006
10$256,847$60,271$12,200$184,375
11$269,689$64,766$12,810$192,113
12$283,174$69,486$13,451$200,237
13$297,332$74,441$14,123$208,768
14$312,199$79,644$14,829$217,725
15$327,809$85,108$15,571$227,130
16$344,199$90,845$16,349$237,005
17$361,409$96,868$17,167$247,374
18$379,480$103,193$18,025$258,262
19$398,454$109,834$18,927$269,694
20$418,376$116,807$19,873$281,697
21$439,295$124,128$20,867$294,301
22$461,260$131,816$21,910$307,534
23$484,323$139,888$23,005$321,430
24$508,539$148,363$24,156$336,020
25$533,966$157,263$25,363$351,340
26$560,665$166,607$26,632$367,426
27$588,698$176,419$27,963$384,316
28$618,133$186,897$29,361$401,875
29$649,039$198,332$30,829$419,878
30$681,491$210,340$32,371$438,781
Total$11,000,000$2,979,054$522,498$7,498,446

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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.