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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Oct 6, 2023

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The tax information provided here is based on 2025 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 $360,000,000 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, Oct 6, 2023
Jackpot:$360,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,418,517$1,961,871$257,380$3,199,266
2$5,689,443$2,062,114$270,249$3,357,080
3$5,973,915$2,167,369$283,761$3,522,785
4$6,272,610$2,277,886$297,949$3,696,775
5$6,586,241$2,393,929$312,846$3,879,465
6$6,915,553$2,515,775$328,489$4,071,289
7$7,261,331$2,643,713$344,913$4,272,705
8$7,624,397$2,778,047$362,159$4,484,191
9$8,005,617$2,919,099$380,267$4,706,252
10$8,405,898$3,067,202$399,280$4,939,415
11$8,826,193$3,222,712$419,244$5,184,237
12$9,267,502$3,385,996$440,206$5,441,300
13$9,730,877$3,557,445$462,217$5,711,216
14$10,217,421$3,737,466$485,328$5,994,628
15$10,728,292$3,926,488$509,594$6,292,210
16$11,264,707$4,124,962$535,074$6,604,672
17$11,827,942$4,333,359$561,827$6,932,756
18$12,419,339$4,552,176$589,919$7,277,245
19$13,040,306$4,781,934$619,415$7,638,958
20$13,692,322$5,023,179$650,385$8,018,757
21$14,376,938$5,276,487$682,905$8,417,546
22$15,095,785$5,542,461$717,050$8,836,274
23$15,850,574$5,821,733$752,902$9,275,939
24$16,643,102$6,114,968$790,547$9,737,587
25$17,475,258$6,422,866$830,075$10,222,317
26$18,349,021$6,746,158$871,578$10,731,284
27$19,266,472$7,085,615$915,157$11,265,700
28$20,229,795$7,442,044$960,915$11,826,835
29$21,241,285$7,816,296$1,008,961$12,416,028
30$22,303,349$8,209,259$1,059,409$13,034,681
Total$360,000,001$131,910,609$17,100,001$210,989,393

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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.