USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Aug 4, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $1,350,000,000 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, Aug 4, 2023
Jackpot:$1,350,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,319,437$7,476,380$965,173$11,877,884
2$21,335,409$7,852,289$1,013,432$12,469,688
3$22,402,179$8,246,994$1,064,104$13,091,082
4$23,522,289$8,661,435$1,117,309$13,743,546
5$24,698,403$9,096,597$1,173,174$14,428,632
6$25,933,323$9,553,517$1,231,833$15,147,973
7$27,229,990$10,033,284$1,293,425$15,903,281
8$28,591,489$10,537,039$1,358,096$16,696,355
9$30,021,064$11,065,981$1,426,001$17,529,082
10$31,522,117$11,621,371$1,497,301$18,403,445
11$33,098,223$12,204,530$1,572,166$19,321,527
12$34,753,134$12,816,847$1,650,774$20,285,513
13$36,490,790$13,459,780$1,733,313$21,297,698
14$38,315,330$14,134,860$1,819,978$22,360,492
15$40,231,096$14,843,693$1,910,977$23,476,426
16$42,242,652$15,587,969$2,006,526$24,648,157
17$44,354,783$16,369,458$2,106,852$25,878,473
18$46,572,523$17,190,021$2,212,195$27,170,307
19$48,901,149$18,051,613$2,322,805$28,526,731
20$51,346,206$18,956,284$2,438,945$29,950,978
21$53,913,516$19,906,189$2,560,892$31,446,435
22$56,609,192$20,903,589$2,688,937$33,016,667
23$59,439,652$21,950,859$2,823,383$34,665,410
24$62,411,634$23,050,492$2,964,553$36,396,589
25$65,532,216$24,205,108$3,112,780$38,214,328
26$68,808,828$25,417,454$3,268,419$40,122,954
27$72,249,269$26,690,417$3,431,840$42,127,011
28$75,861,731$28,027,028$3,603,432$44,231,271
29$79,654,818$29,430,470$3,783,604$46,440,744
30$83,637,560$30,904,085$3,972,784$48,760,691
Total$1,350,000,003$498,245,633$64,125,003$787,629,370

◄ Back to Jackpot Analysis

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.