USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Feb 16, 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 $12,000,000 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, Feb 16, 1999
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$36,391$8,579$135,647
2$189,648$38,558$9,008$142,082
3$199,130$41,408$9,459$148,264
4$209,087$44,594$9,932$154,561
5$219,541$47,940$10,428$161,173
6$230,518$51,452$10,950$168,116
7$242,044$55,141$11,497$175,407
8$254,147$59,326$12,072$182,749
9$266,854$63,774$12,676$190,405
10$280,197$68,444$13,309$198,444
11$294,206$73,347$13,975$206,885
12$308,917$78,496$14,674$215,748
13$324,363$83,902$15,407$225,054
14$340,581$89,578$16,178$234,825
15$357,610$95,538$16,986$245,085
16$375,490$101,796$17,836$255,858
17$394,265$108,367$18,728$267,170
18$413,978$115,267$19,664$279,047
19$434,677$122,512$20,647$291,518
20$456,411$130,119$21,680$304,613
21$479,231$138,106$22,763$318,362
22$503,193$146,492$23,902$332,799
23$528,352$155,298$25,097$347,958
24$554,770$164,544$26,352$363,874
25$582,509$174,253$27,669$380,587
26$611,634$184,492$29,053$398,089
27$642,216$195,808$30,505$415,903
28$674,327$207,689$32,031$434,607
29$708,043$220,164$33,632$454,247
30$743,445$233,262$35,314$474,869
Total$12,000,000$3,326,058$570,003$8,103,946

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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.