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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jan 10, 2023

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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 $1,100,000,000 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, Jan 10, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$786,437$9,686,019
2$17,384,408$6,390,419$825,759$10,168,230
3$18,253,628$6,712,030$867,047$10,674,550
4$19,166,310$7,049,722$910,400$11,206,188
5$20,124,624$7,404,299$955,920$11,764,406
6$21,130,856$7,776,604$1,003,716$12,350,536
7$22,187,399$8,167,525$1,053,901$12,965,972
8$23,296,769$8,577,992$1,106,597$13,612,180
9$24,461,608$9,008,983$1,161,926$14,290,699
10$25,684,688$9,461,522$1,220,023$15,003,143
11$26,968,922$9,936,689$1,281,024$15,751,209
12$28,317,368$10,435,614$1,345,075$16,536,679
13$29,733,237$10,959,485$1,412,329$17,361,423
14$31,219,899$11,509,550$1,482,945$18,227,403
15$32,780,893$12,087,118$1,557,092$19,136,683
16$34,419,938$12,693,565$1,634,947$20,091,426
17$36,140,935$13,330,334$1,716,694$21,093,907
18$37,947,982$13,998,941$1,802,529$22,146,511
19$39,845,380$14,700,978$1,892,656$23,251,746
20$41,837,650$15,438,118$1,987,288$24,412,243
21$43,929,532$16,212,115$2,086,653$25,630,765
22$46,126,009$17,024,811$2,190,985$26,910,212
23$48,432,309$17,878,142$2,300,535$28,253,632
24$50,853,924$18,774,140$2,415,561$29,664,223
25$53,396,620$19,714,937$2,536,339$31,145,344
26$56,066,452$20,702,775$2,663,156$32,700,521
27$58,869,775$21,740,004$2,796,314$34,333,456
28$61,813,263$22,829,095$2,936,130$36,048,038
29$64,903,926$23,972,640$3,082,936$37,848,349
30$68,149,123$25,173,363$3,237,083$39,738,676
Total$1,100,000,002$405,745,632$52,249,997$642,004,369

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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.