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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jul 21, 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 $720,000,000 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, Jul 21, 2023
Jackpot:$720,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,837,033$3,967,890$514,759$6,354,384
2$11,378,885$4,168,375$540,497$6,670,013
3$11,947,829$4,378,884$567,522$7,001,423
4$12,545,221$4,599,920$595,898$7,349,403
5$13,172,481$4,832,006$625,693$7,714,783
6$13,831,106$5,075,697$656,978$8,098,431
7$14,522,661$5,331,572$689,826$8,501,262
8$15,248,794$5,600,242$724,318$8,924,235
9$16,011,234$5,882,344$760,534$9,368,356
10$16,811,796$6,178,552$798,560$9,834,683
11$17,652,385$6,489,570$838,488$10,324,327
12$18,535,005$6,816,139$880,413$10,838,452
13$19,461,755$7,159,037$924,433$11,378,284
14$20,434,843$7,519,080$970,655$11,945,108
15$21,456,585$7,897,124$1,019,188$12,540,273
16$22,529,414$8,294,071$1,070,147$13,165,196
17$23,655,884$8,710,865$1,123,655$13,821,365
18$24,838,679$9,148,499$1,179,837$14,510,343
19$26,080,613$9,608,014$1,238,829$15,233,769
20$27,384,643$10,090,506$1,300,771$15,993,367
21$28,753,875$10,597,122$1,365,809$16,790,945
22$30,191,569$11,129,068$1,434,100$17,628,401
23$31,701,148$11,687,612$1,505,805$18,507,731
24$33,286,205$12,274,084$1,581,095$19,431,027
25$34,950,515$12,889,878$1,660,149$20,400,487
26$36,698,041$13,536,463$1,743,157$21,418,421
27$38,532,943$14,215,377$1,830,315$22,487,252
28$40,459,590$14,928,236$1,921,831$23,609,523
29$42,482,570$15,676,739$2,017,922$24,787,909
30$44,606,699$16,462,666$2,118,818$26,025,214
Total$720,000,001$265,145,632$34,200,002$420,654,367

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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.