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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jan 23, 2024

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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 $262,000,000 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, Jan 23, 2024
Jackpot:$262,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,943,476$1,416,106$187,315$2,340,055
2$4,140,650$1,489,061$196,681$2,454,908
3$4,347,682$1,565,663$206,515$2,575,505
4$4,565,067$1,646,095$216,841$2,702,131
5$4,793,320$1,730,549$227,683$2,835,088
6$5,032,986$1,819,225$239,067$2,974,694
7$5,284,635$1,912,335$251,020$3,121,280
8$5,548,867$2,010,101$263,571$3,275,195
9$5,826,310$2,112,755$276,750$3,436,805
10$6,117,626$2,220,542$290,587$3,606,497
11$6,423,507$2,333,718$305,117$3,784,673
12$6,744,682$2,452,553$320,372$3,971,757
13$7,081,916$2,577,329$336,391$4,168,196
14$7,436,012$2,708,345$353,211$4,374,457
15$7,807,813$2,845,911$370,871$4,591,031
16$8,198,203$2,990,356$389,415$4,818,433
17$8,608,113$3,142,022$408,885$5,057,206
18$9,038,519$3,301,272$429,330$5,307,917
19$9,490,445$3,468,485$450,796$5,571,164
20$9,964,967$3,644,058$473,336$5,847,573
21$10,463,216$3,828,410$497,003$6,137,803
22$10,986,377$4,021,980$521,853$6,442,544
23$11,535,695$4,225,228$547,946$6,762,522
24$12,112,480$4,438,638$575,343$7,098,499
25$12,718,104$4,662,719$604,110$7,451,275
26$13,354,010$4,898,004$634,315$7,821,690
27$14,021,710$5,145,053$666,031$8,210,626
28$14,722,795$5,404,454$699,333$8,619,008
29$15,458,935$5,676,826$734,299$9,047,809
30$16,231,882$5,962,817$771,014$9,498,051
Total$262,000,001$95,650,610$12,445,001$153,904,392

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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.