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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Dec 23, 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 $510,000,000 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 23, 2022
Jackpot:$510,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,676,232$2,798,394$364,621$4,513,217
2$8,060,044$2,940,404$382,852$4,736,788
3$8,463,046$3,089,515$401,995$4,971,536
4$8,886,198$3,246,081$422,094$5,218,023
5$9,330,508$3,410,476$443,199$5,476,833
6$9,797,033$3,583,090$465,359$5,748,584
7$10,286,885$3,764,335$488,627$6,033,923
8$10,801,229$3,954,643$513,058$6,333,528
9$11,341,291$4,154,465$538,711$6,648,114
10$11,908,355$4,364,279$565,647$6,978,429
11$12,503,773$4,584,584$593,929$7,325,260
12$13,128,962$4,815,904$623,626$7,689,432
13$13,785,410$5,058,789$654,807$8,071,813
14$14,474,680$5,313,819$687,547$8,473,314
15$15,198,414$5,581,601$721,925$8,894,888
16$15,958,335$5,862,772$758,021$9,337,542
17$16,756,251$6,158,001$795,922$9,802,329
18$17,594,064$6,467,991$835,718$10,290,355
19$18,473,767$6,793,482$877,504$10,802,782
20$19,397,456$7,135,246$921,379$11,340,830
21$20,367,328$7,494,099$967,448$11,905,781
22$21,385,695$7,870,895$1,015,821$12,498,980
23$22,454,980$8,266,530$1,066,612$13,121,838
24$23,577,728$8,681,947$1,119,942$13,775,839
25$24,756,615$9,118,135$1,175,939$14,462,540
26$25,994,446$9,576,133$1,234,736$15,183,577
27$27,294,168$10,057,030$1,296,473$15,940,665
28$28,658,876$10,561,972$1,361,297$16,735,608
29$30,091,820$11,092,161$1,429,361$17,570,298
30$31,596,411$11,648,860$1,500,830$18,446,722
Total$510,000,001$187,445,633$24,225,000$298,329,368

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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.