USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 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 Powerball 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 $60,000,000 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 prize money, as well as deductions claimed.

State:

Oklahoma

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$45,154$559,718
2$948,240$314,921$47,412$585,907
3$995,652$332,464$49,783$613,406
4$1,045,435$350,883$52,272$642,280
5$1,097,707$370,224$54,885$672,598
6$1,152,592$390,531$57,630$704,431
7$1,210,222$411,854$60,511$737,856
8$1,270,733$434,243$63,537$772,953
9$1,334,270$457,752$66,713$809,804
10$1,400,983$482,436$70,049$848,498
11$1,471,032$508,354$73,552$889,126
12$1,544,584$535,568$77,229$931,786
13$1,621,813$564,143$81,091$976,579
14$1,702,904$594,147$85,145$1,023,612
15$1,788,049$625,650$89,402$1,072,996
16$1,877,451$658,729$93,873$1,124,849
17$1,971,324$693,462$98,566$1,179,295
18$2,069,890$729,932$103,494$1,236,464
19$2,173,384$768,224$108,669$1,296,491
20$2,282,054$808,432$114,103$1,359,519
21$2,396,156$850,650$119,808$1,425,698
22$2,515,964$894,979$125,798$1,495,187
23$2,641,762$941,524$132,088$1,568,150
24$2,773,850$990,397$138,693$1,644,761
25$2,912,543$1,041,713$145,627$1,725,203
26$3,058,170$1,095,595$152,909$1,809,666
27$3,211,079$1,152,171$160,554$1,898,353
28$3,371,633$1,211,576$168,582$1,991,475
29$3,540,214$1,273,951$177,011$2,089,252
30$3,717,225$1,339,445$185,861$2,191,918
Total$60,000,000$21,122,164$3,000,001$35,877,831

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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.