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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Nov 1, 2022

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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 $87,000,000 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, Nov 1, 2022
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,309,475$442,693$62,200$804,581
2$1,374,949$466,919$65,310$842,720
3$1,443,696$492,355$68,576$882,765
4$1,515,881$519,064$72,004$924,813
5$1,591,675$547,107$75,605$968,963
6$1,671,259$576,553$79,385$1,015,320
7$1,754,822$607,472$83,354$1,063,996
8$1,842,563$639,936$87,522$1,115,105
9$1,934,691$674,023$91,898$1,168,770
10$2,031,425$709,815$96,493$1,225,117
11$2,132,997$747,396$101,317$1,284,283
12$2,239,646$786,857$106,383$1,346,406
13$2,351,629$828,290$111,702$1,411,636
14$2,469,210$871,796$117,287$1,480,127
15$2,592,671$917,476$123,152$1,552,043
16$2,722,304$965,440$129,309$1,627,554
17$2,858,419$1,015,803$135,775$1,706,842
18$3,001,340$1,068,684$142,564$1,790,093
19$3,151,407$1,124,208$149,692$1,877,507
20$3,308,978$1,182,510$157,176$1,969,292
21$3,474,427$1,243,726$165,035$2,065,666
22$3,648,148$1,308,002$173,287$2,166,858
23$3,830,555$1,375,493$181,951$2,273,111
24$4,022,083$1,446,358$191,049$2,384,676
25$4,223,187$1,520,767$200,601$2,501,819
26$4,434,347$1,598,896$210,631$2,624,819
27$4,656,064$1,680,931$221,163$2,753,970
28$4,888,867$1,767,069$232,221$2,889,577
29$5,133,311$1,857,513$243,832$3,031,966
30$5,389,976$1,952,479$256,024$3,181,473
Total$87,000,000$30,935,631$4,132,498$51,931,868

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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.