USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Dec 21, 1996

Media: You may freely use any information on this page, but you must credit usamega.com.

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 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 $41,600,000 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:Sat, Dec 21, 1996
Jackpot:$41,600,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$741,732$232,629$35,232$473,871
2$771,401$243,606$36,642$491,154
3$802,257$255,023$38,107$509,127
4$834,348$266,896$39,632$527,820
5$867,722$279,245$41,217$547,260
6$902,431$292,087$42,865$567,478
7$938,528$305,443$44,580$588,505
8$976,069$319,333$46,363$610,372
9$1,015,112$333,779$48,218$633,115
10$1,055,716$348,803$50,147$656,767
11$1,097,945$364,427$52,152$681,365
12$1,141,863$380,677$54,238$706,947
13$1,187,537$397,576$56,408$733,553
14$1,235,039$415,152$58,664$761,222
15$1,284,440$433,431$61,011$789,999
16$1,335,818$452,440$63,451$819,926
17$1,389,250$472,210$65,989$851,051
18$1,444,820$492,771$68,629$883,420
19$1,502,613$514,155$71,374$917,084
20$1,562,718$536,393$74,229$952,095
21$1,625,226$559,522$77,198$988,507
22$1,690,235$583,575$80,286$1,026,374
23$1,757,845$608,590$83,498$1,065,757
24$1,828,159$634,606$86,838$1,106,715
25$1,901,285$661,663$90,311$1,149,311
26$1,977,336$689,802$93,923$1,193,611
27$2,056,430$719,067$97,680$1,239,683
28$2,138,687$749,502$101,588$1,287,597
29$2,224,235$781,155$105,651$1,337,429
30$2,313,204$814,073$109,877$1,389,254
Total$41,600,000$14,137,631$1,975,998$25,486,369

◄ Back to Jackpot Analysis

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.