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Powerball Annuity Jackpot Analysis for Oklahoma

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $170,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Oklahoma

Drawing Date:  Wed, Jan 25, 2017
Jackpot:$170,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,558,744$639,686$102,350$1,816,708
2$2,686,681$671,670$107,467$1,907,544
3$2,821,015$705,254$112,841$2,002,921
4$2,962,066$740,517$118,483$2,103,067
5$3,110,169$777,542$124,407$2,208,220
6$3,265,678$816,419$130,627$2,318,631
7$3,428,962$857,240$137,158$2,434,563
8$3,600,410$900,102$144,016$2,556,291
9$3,780,430$945,108$151,217$2,684,105
10$3,969,452$992,363$158,778$2,818,311
11$4,167,924$1,041,981$166,717$2,959,226
12$4,376,321$1,094,080$175,053$3,107,188
13$4,595,137$1,148,784$183,805$3,262,547
14$4,824,893$1,206,223$192,996$3,425,674
15$5,066,138$1,266,535$202,646$3,596,958
16$5,319,445$1,329,861$212,778$3,776,806
17$5,585,417$1,396,354$223,417$3,965,646
18$5,864,688$1,466,172$234,588$4,163,929
19$6,157,922$1,539,481$246,317$4,372,125
20$6,465,819$1,616,455$258,633$4,590,731
21$6,789,109$1,697,277$271,564$4,820,268
22$7,128,565$1,782,141$285,143$5,061,281
23$7,484,993$1,871,248$299,400$5,314,345
24$7,859,243$1,964,811$314,370$5,580,062
25$8,252,205$2,063,051$330,088$5,859,066
26$8,664,815$2,166,204$346,593$6,152,019
27$9,098,056$2,274,514$363,922$6,459,620
28$9,552,959$2,388,240$382,118$6,782,601
29$10,030,607$2,507,652$401,224$7,121,731
30$10,532,137$2,633,034$421,285$7,477,817
Total$170,000,000$42,500,000$6,800,000$120,700,000
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