USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$25,738$356,091
2$568,944$169,505$27,025$372,414
3$597,391$179,462$28,376$389,554
4$627,261$190,274$29,795$407,192
5$658,624$201,879$31,285$425,461
6$691,555$214,063$32,849$444,643
7$726,133$226,857$34,491$464,785
8$762,440$240,290$36,216$485,933
9$800,562$254,396$38,027$508,139
10$840,590$269,206$39,928$531,456
11$882,619$284,757$41,924$555,938
12$926,750$301,085$44,021$581,644
13$973,088$318,230$46,222$608,636
14$1,021,742$336,232$48,533$636,977
15$1,072,829$355,135$50,959$666,735
16$1,126,471$374,982$53,507$697,981
17$1,182,794$395,822$56,183$730,790
18$1,241,934$417,703$58,992$765,239
19$1,304,031$440,679$61,941$801,410
20$1,369,232$464,804$65,039$839,390
21$1,437,694$490,134$68,290$879,269
22$1,509,578$516,732$71,705$921,142
23$1,585,057$544,659$75,290$965,108
24$1,664,310$573,983$79,055$1,011,273
25$1,747,526$604,772$83,007$1,059,746
26$1,834,902$637,102$87,158$1,110,643
27$1,926,647$671,047$91,516$1,164,084
28$2,022,980$706,690$96,092$1,220,198
29$2,124,128$744,115$100,896$1,279,117
30$2,230,335$783,412$105,941$1,340,982
Total$36,000,000$12,068,030$1,710,001$22,221,970

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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.