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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Feb 27, 2024

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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 $563,000,000 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, Feb 27, 2024
Jackpot:$563,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,473,958$3,093,552$402,513$4,977,893
2$8,897,656$3,250,320$422,639$5,224,697
3$9,342,539$3,414,927$443,771$5,483,841
4$9,809,666$3,587,764$465,959$5,755,943
5$10,300,149$3,769,243$489,257$6,041,649
6$10,815,156$3,959,796$513,720$6,341,641
7$11,355,914$4,159,876$539,406$6,656,632
8$11,923,710$4,369,960$566,376$6,987,373
9$12,519,895$4,590,549$594,695$7,334,651
10$13,145,890$4,822,167$624,430$7,699,293
11$13,803,185$5,065,366$655,651$8,082,167
12$14,493,344$5,320,725$688,434$8,484,185
13$15,218,011$5,588,852$722,856$8,906,304
14$15,978,912$5,870,385$758,998$9,349,528
15$16,777,857$6,165,995$796,948$9,814,914
16$17,616,750$6,476,385$836,796$10,303,569
17$18,497,587$6,802,295$878,635$10,816,657
18$19,422,467$7,144,501$922,567$11,355,399
19$20,393,590$7,503,816$968,696$11,921,078
20$21,413,270$7,881,098$1,017,130$12,515,042
21$22,483,933$8,277,243$1,067,987$13,138,703
22$23,608,130$8,693,196$1,121,386$13,793,548
23$24,788,536$9,129,946$1,177,455$14,481,135
24$26,027,963$9,588,534$1,236,328$15,203,101
25$27,329,361$10,070,051$1,298,145$15,961,165
26$28,695,830$10,575,645$1,363,052$16,757,133
27$30,130,621$11,106,518$1,431,204$17,592,899
28$31,637,152$11,663,934$1,502,765$18,470,453
29$33,219,009$12,249,221$1,577,903$19,391,885
30$34,879,960$12,863,773$1,656,798$20,359,389
Total$563,000,001$207,055,633$26,742,500$329,201,867

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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.