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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 2014

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The tax information provided here is based on 2025 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 $105,000,000 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, Sep 30, 2014
Jackpot:$105,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,580,401$541,768$75,069$963,563
2$1,659,421$571,006$78,822$1,009,592
3$1,742,392$601,705$82,764$1,057,923
4$1,829,511$633,939$86,902$1,108,670
5$1,920,987$667,785$91,247$1,161,955
6$2,017,036$703,324$95,809$1,217,903
7$2,117,888$740,639$100,600$1,276,650
8$2,223,783$779,820$105,630$1,338,333
9$2,334,972$820,960$110,911$1,403,101
10$2,451,720$864,157$116,457$1,471,107
11$2,574,306$909,514$122,280$1,542,513
12$2,703,022$957,138$128,394$1,617,490
13$2,838,173$1,007,144$134,813$1,696,215
14$2,980,081$1,059,650$141,554$1,778,877
15$3,129,085$1,114,782$148,632$1,865,672
16$3,285,540$1,172,670$156,063$1,956,807
17$3,449,816$1,233,452$163,866$2,052,498
18$3,622,307$1,297,274$172,060$2,152,974
19$3,803,423$1,364,287$180,663$2,258,473
20$3,993,594$1,434,650$189,696$2,369,248
21$4,193,273$1,508,531$199,180$2,485,562
22$4,402,937$1,586,107$209,140$2,607,691
23$4,623,084$1,667,561$219,596$2,735,926
24$4,854,238$1,753,088$230,576$2,870,574
25$5,096,950$1,842,892$242,105$3,011,953
26$5,351,798$1,937,185$254,210$3,160,402
27$5,619,388$2,036,194$266,921$3,316,273
28$5,900,357$2,140,152$280,267$3,479,938
29$6,195,375$2,249,309$294,280$3,651,786
30$6,505,144$2,363,923$308,994$3,832,226
Total$105,000,000$37,560,606$4,987,501$62,451,895

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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.