USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jun 21, 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 $80,000,000 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, Jun 21, 2024
Jackpot:$80,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,204,115$403,710$57,195$743,209
2$1,264,321$425,986$60,055$778,279
3$1,327,537$449,376$63,058$815,102
4$1,393,913$473,936$66,211$853,767
5$1,463,609$499,723$69,521$894,365
6$1,536,790$526,800$72,998$936,992
7$1,613,629$555,230$76,647$981,751
8$1,694,310$585,083$80,480$1,028,748
9$1,779,026$616,427$84,504$1,078,095
10$1,867,977$649,339$88,729$1,129,909
11$1,961,376$683,897$93,165$1,184,314
12$2,059,445$720,182$97,824$1,241,439
13$2,162,417$758,282$102,715$1,301,420
14$2,270,538$798,287$107,851$1,364,401
15$2,384,065$840,292$113,243$1,430,530
16$2,503,268$884,397$118,905$1,499,966
17$2,628,432$930,707$124,851$1,572,874
18$2,759,853$979,333$131,093$1,649,427
19$2,897,846$1,030,391$137,648$1,729,807
20$3,042,738$1,084,001$144,530$1,814,207
21$3,194,875$1,140,292$151,757$1,902,827
22$3,354,619$1,199,397$159,344$1,995,878
23$3,522,350$1,261,457$167,312$2,093,581
24$3,698,467$1,326,621$175,677$2,196,169
25$3,883,391$1,395,042$184,461$2,303,887
26$4,077,560$1,466,885$193,684$2,416,991
27$4,281,438$1,542,320$203,368$2,535,750
28$4,495,510$1,621,526$213,537$2,660,447
29$4,720,286$1,704,693$224,214$2,791,379
30$4,956,300$1,792,019$235,424$2,928,857
Total$80,000,000$28,345,631$3,800,001$47,854,368

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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.