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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Dec 16, 2022

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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 $429,000,000 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:Fri, Dec 16, 2022
Jackpot:$429,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,457,066$2,352,069$306,711$3,798,286
2$6,779,919$2,471,525$322,046$3,986,348
3$7,118,915$2,596,953$338,148$4,183,813
4$7,474,861$2,728,654$355,056$4,391,151
5$7,848,603$2,866,938$372,809$4,608,857
6$8,241,034$3,012,138$391,449$4,837,447
7$8,653,086$3,164,597$411,022$5,077,467
8$9,085,740$3,324,679$431,573$5,329,489
9$9,540,027$3,492,765$453,151$5,594,111
10$10,017,028$3,669,255$475,809$5,871,964
11$10,517,880$3,854,570$499,599$6,163,710
12$11,043,774$4,049,151$524,579$6,470,043
13$11,595,962$4,253,461$550,808$6,791,693
14$12,175,760$4,467,986$578,349$7,129,425
15$12,784,548$4,693,238$607,266$7,484,044
16$13,423,776$4,929,752$637,629$7,856,394
17$14,094,964$5,178,092$669,511$8,247,362
18$14,799,713$5,438,849$702,986$8,657,878
19$15,539,698$5,712,643$738,136$9,088,919
20$16,316,683$6,000,128$775,042$9,541,513
21$17,132,517$6,301,986$813,795$10,016,736
22$17,989,143$6,618,938$854,484$10,515,721
23$18,888,601$6,951,737$897,209$11,039,655
24$19,833,030$7,301,176$942,069$11,589,785
25$20,824,682$7,668,087$989,172$12,167,422
26$21,865,916$8,053,344$1,038,631$12,773,941
27$22,959,212$8,457,863$1,090,563$13,410,786
28$24,107,172$8,882,609$1,145,091$14,079,473
29$25,312,531$9,328,592$1,202,345$14,781,594
30$26,578,158$9,796,873$1,262,462$15,518,822
Total$429,000,001$157,618,648$20,377,500$251,003,849

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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.