USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 1999

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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 $40,000,000 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, Jan 26, 1999
Jackpot:$40,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$602,057$181,095$28,598$392,365
2$632,160$192,087$30,028$410,046
3$663,768$203,782$31,529$428,457
4$696,957$216,062$33,105$447,790
5$731,805$228,955$34,761$468,088
6$768,395$242,494$36,499$489,402
7$806,815$256,709$38,324$511,782
8$847,155$271,635$40,240$535,280
9$889,513$287,308$42,252$559,954
10$933,989$303,764$44,364$585,861
11$980,688$321,042$46,583$613,063
12$1,029,722$339,185$48,912$641,626
13$1,081,209$358,235$51,357$671,616
14$1,135,269$378,237$53,925$703,106
15$1,192,032$399,240$56,622$736,171
16$1,251,634$421,292$59,453$770,889
17$1,314,216$444,448$62,425$807,343
18$1,379,927$468,761$65,547$845,619
19$1,448,923$494,289$68,824$885,810
20$1,521,369$521,094$72,265$928,010
21$1,597,438$549,240$75,878$972,320
22$1,677,309$578,792$79,672$1,018,845
23$1,761,175$609,822$83,656$1,067,697
24$1,849,234$642,404$87,839$1,118,991
25$1,941,695$676,615$92,231$1,172,850
26$2,038,780$712,536$96,842$1,229,402
27$2,140,719$750,254$101,684$1,288,781
28$2,247,755$789,857$106,768$1,351,130
29$2,360,143$831,441$112,107$1,416,595
30$2,478,150$875,103$117,712$1,485,335
Total$40,000,000$13,545,778$1,900,002$24,554,224

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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.