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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jul 26, 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 $830,000,000 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, Jul 26, 2022
Jackpot:$830,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,492,691$4,580,483$593,403$7,318,805
2$13,117,326$4,811,598$623,073$7,682,655
3$13,773,192$5,054,269$654,227$8,064,696
4$14,461,852$5,309,073$686,938$8,465,841
5$15,184,944$5,576,617$721,285$8,887,042
6$15,944,191$5,857,539$757,349$9,329,304
7$16,741,401$6,152,506$795,217$9,793,679
8$17,578,471$6,462,222$834,977$10,281,272
9$18,457,395$6,787,424$876,726$10,793,245
10$19,380,264$7,128,886$920,563$11,330,816
11$20,349,278$7,487,420$966,591$11,895,266
12$21,366,741$7,863,882$1,014,920$12,487,939
13$22,435,078$8,259,167$1,065,666$13,110,245
14$23,556,833$8,674,216$1,118,950$13,763,667
15$24,734,674$9,110,017$1,174,897$14,449,760
16$25,971,408$9,567,609$1,233,642$15,170,157
17$27,269,978$10,048,080$1,295,324$15,926,574
18$28,633,477$10,552,574$1,360,090$16,720,813
19$30,065,151$11,082,293$1,428,095$17,554,762
20$31,568,408$11,638,499$1,499,499$18,430,410
21$33,146,829$12,222,514$1,574,474$19,349,840
22$34,804,170$12,835,731$1,653,198$20,315,241
23$36,544,379$13,479,608$1,735,858$21,328,913
24$38,371,597$14,155,679$1,822,651$22,393,268
25$40,290,177$14,865,553$1,913,783$23,510,840
26$42,304,687$15,610,922$2,009,473$24,684,292
27$44,419,921$16,393,558$2,109,946$25,916,416
28$46,640,916$17,215,327$2,215,444$27,210,146
29$48,972,962$18,078,184$2,326,216$28,568,563
30$51,421,611$18,984,184$2,442,527$29,994,901
Total$830,000,002$305,845,634$39,425,002$484,729,368

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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.