USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 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 $47,000,000 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:Tue, Jan 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$33,602$449,116
2$742,788$237,787$35,282$469,719
3$779,928$251,528$37,047$491,353
4$818,924$265,957$38,899$514,068
5$859,870$281,107$40,844$537,919
6$902,864$297,015$42,886$562,963
7$948,007$313,718$45,030$589,259
8$995,407$331,256$47,282$616,870
9$1,045,178$349,671$49,646$645,861
10$1,097,437$369,007$52,128$676,302
11$1,152,308$389,309$54,735$708,265
12$1,209,924$410,627$57,471$741,826
13$1,270,420$433,010$60,345$777,065
14$1,333,941$456,513$63,362$814,066
15$1,400,638$481,191$66,530$852,917
16$1,470,670$507,103$69,857$893,710
17$1,544,204$534,310$73,350$936,544
18$1,621,414$562,878$77,017$981,519
19$1,702,484$592,874$80,868$1,028,742
20$1,787,609$624,370$84,911$1,078,327
21$1,876,989$657,441$89,157$1,130,391
22$1,970,839$692,165$93,615$1,185,058
23$2,069,380$728,626$98,296$1,242,459
24$2,172,849$766,909$103,210$1,302,730
25$2,281,492$807,107$108,371$1,366,014
26$2,395,567$849,315$113,789$1,432,463
27$2,515,345$893,633$119,479$1,502,233
28$2,641,112$940,166$125,453$1,575,493
29$2,773,168$989,027$131,725$1,652,415
30$2,911,826$1,040,331$138,312$1,733,184
Total$47,000,000$16,278,650$2,232,499$28,488,851

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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.