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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jan 11, 2013

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The tax information provided here is based on 2022 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 $55,000,000 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 prize money, as well as deductions claimed.

State:

Oklahoma

Drawing Date:Fri, Jan 11, 2013
Jackpot:$55,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$827,829$269,252$39,322$519,255
2$869,220$284,567$41,288$543,366
3$912,681$300,647$43,352$568,682
4$958,315$317,532$45,520$595,264
5$1,006,231$335,261$47,796$623,175
6$1,056,543$353,876$50,186$652,481
7$1,109,370$373,422$52,695$683,253
8$1,164,838$393,945$55,330$715,563
9$1,223,080$415,495$58,096$749,489
10$1,284,234$438,122$61,001$785,112
11$1,348,446$461,880$64,051$822,515
12$1,415,868$486,826$67,254$861,788
13$1,486,662$513,020$70,616$903,026
14$1,560,995$540,523$74,147$946,325
15$1,639,045$569,402$77,855$991,789
16$1,720,997$599,724$81,747$1,039,526
17$1,807,047$631,562$85,835$1,089,650
18$1,897,399$664,993$90,126$1,142,280
19$1,992,269$700,095$94,633$1,197,542
20$2,091,882$736,952$99,364$1,255,567
21$2,196,477$775,651$104,333$1,316,493
22$2,306,300$816,286$109,549$1,380,465
23$2,421,615$858,953$115,027$1,447,636
24$2,542,696$903,753$120,778$1,518,166
25$2,669,831$950,792$126,817$1,592,222
26$2,803,323$1,000,184$133,158$1,669,980
27$2,943,489$1,052,046$139,816$1,751,627
28$3,090,663$1,106,500$146,806$1,837,356
29$3,245,196$1,163,678$154,147$1,927,372
30$3,407,456$1,223,714$161,854$2,021,888
Total$55,000,000$19,238,653$2,612,499$33,148,853

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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.