USA Mega

Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Jun 7, 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 $20,000,000 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 7, 2024
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$14,299$210,995
2$316,080$81,003$15,014$220,064
3$331,884$86,534$15,764$229,585
4$348,478$92,342$16,553$239,583
5$365,902$98,441$17,380$250,081
6$384,197$104,844$18,249$261,104
7$403,407$111,567$19,162$272,678
8$423,578$118,627$20,120$284,831
9$444,757$126,040$21,126$297,591
10$466,994$133,823$22,182$310,989
11$490,344$141,995$23,291$325,058
12$514,861$150,576$24,456$339,829
13$540,604$159,586$25,679$355,339
14$567,635$169,047$26,963$371,625
15$596,016$178,980$28,311$388,725
16$625,817$189,740$29,726$406,351
17$657,108$201,318$31,213$424,578
18$689,963$213,474$32,773$443,716
19$724,461$226,238$34,412$463,811
20$760,685$239,641$36,133$484,911
21$798,719$253,714$37,939$507,066
22$838,655$268,490$39,836$530,329
23$880,587$284,005$41,828$554,754
24$924,617$300,296$43,919$580,402
25$970,848$317,401$46,115$607,331
26$1,019,390$335,362$48,421$635,607
27$1,070,360$354,221$50,842$665,297
28$1,123,878$374,022$53,384$696,471
29$1,180,071$394,814$56,053$729,204
30$1,239,075$416,645$58,856$763,573
Total$20,000,000$6,198,521$949,999$12,851,478

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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.