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Oklahoma Mega Millions Jackpot Annuity Payout Schedule for Aug 9, 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 $405,000,000 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 9, 2024
Jackpot:$405,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,095,831$2,213,645$289,552$3,592,634
2$6,400,623$2,326,418$304,030$3,770,175
3$6,720,654$2,444,830$319,231$3,956,593
4$7,056,687$2,569,162$335,193$4,152,332
5$7,409,521$2,699,710$351,952$4,357,858
6$7,779,997$2,836,787$369,550$4,573,660
7$8,168,997$2,980,717$388,027$4,800,253
8$8,577,447$3,131,843$407,429$5,038,175
9$9,006,319$3,290,526$427,800$5,287,993
10$9,456,635$3,457,143$449,190$5,550,302
11$9,929,467$3,632,090$471,650$5,825,727
12$10,425,940$3,815,786$495,232$6,114,922
13$10,947,237$4,008,665$519,994$6,418,578
14$11,494,599$4,211,189$545,993$6,737,416
15$12,069,329$4,423,839$573,293$7,072,196
16$12,672,795$4,647,122$601,958$7,423,716
17$13,306,435$4,881,569$632,056$7,792,811
18$13,971,757$5,127,738$663,658$8,180,361
19$14,670,345$5,386,215$696,841$8,587,288
20$15,403,862$5,657,617$731,683$9,014,562
21$16,174,055$5,942,588$768,268$9,463,199
22$16,982,758$6,241,808$806,681$9,934,269
23$17,831,896$6,555,989$847,015$10,428,891
24$18,723,490$6,885,879$889,366$10,948,245
25$19,659,665$7,232,264$933,834$11,493,567
26$20,642,648$7,595,968$980,526$12,066,155
27$21,674,781$7,977,857$1,029,552$12,667,372
28$22,758,519$8,378,840$1,081,030$13,298,650
29$23,896,445$8,799,873$1,135,081$13,961,492
30$25,091,268$9,241,957$1,191,835$14,657,476
Total$405,000,001$148,595,634$19,237,500$237,166,868

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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.