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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jul 11, 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 $500,000,000 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 11, 2023
Jackpot:$500,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,525,718$2,742,703$357,472$4,425,543
2$7,902,004$2,881,929$375,345$4,644,729
3$8,297,104$3,028,116$394,112$4,874,875
4$8,711,959$3,181,613$413,818$5,116,528
5$9,147,557$3,342,784$434,509$5,370,264
6$9,604,935$3,512,014$456,234$5,636,687
7$10,085,182$3,689,705$479,046$5,916,430
8$10,589,441$3,876,281$502,998$6,210,161
9$11,118,913$4,072,185$528,148$6,518,579
10$11,674,858$4,277,885$554,556$6,842,417
11$12,258,601$4,493,870$582,284$7,182,447
12$12,871,531$4,720,654$611,398$7,539,479
13$13,515,108$4,958,778$641,968$7,914,362
14$14,190,863$5,208,807$674,066$8,307,990
15$14,900,406$5,471,338$707,769$8,721,299
16$15,645,427$5,746,996$743,158$9,155,273
17$16,427,698$6,036,436$780,316$9,610,946
18$17,249,083$6,340,348$819,331$10,089,403
19$18,111,537$6,659,456$860,298$10,591,782
20$19,017,114$6,994,520$903,313$11,119,281
21$19,967,969$7,346,336$948,479$11,673,154
22$20,966,368$7,715,744$995,902$12,254,721
23$22,014,686$8,103,622$1,045,698$12,865,367
24$23,115,420$8,510,893$1,097,982$13,506,544
25$24,271,191$8,938,528$1,152,882$14,179,781
26$25,484,751$9,387,546$1,210,526$14,886,680
27$26,758,989$9,859,013$1,271,052$15,628,923
28$28,096,938$10,354,055$1,334,605$16,408,278
29$29,501,785$10,873,848$1,401,335$17,226,602
30$30,976,874$11,419,631$1,471,402$18,085,841
Total$500,000,001$183,745,634$23,750,002$292,504,366

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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.