USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Sep 27, 1997

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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 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 $8,000,000 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:Sat, Sep 27, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$142,641$27,276$6,775$108,589
2$148,346$28,646$7,046$112,654
3$154,280$30,070$7,328$116,882
4$160,451$31,551$7,621$121,279
5$166,870$33,091$7,926$125,852
6$173,544$34,693$8,243$130,608
7$180,486$36,359$8,573$135,554
8$187,706$38,092$8,916$140,698
9$195,214$40,155$9,273$145,786
10$203,022$42,654$9,644$150,725
11$211,143$45,252$10,029$155,862
12$219,589$47,955$10,430$161,204
13$228,373$50,766$10,848$166,759
14$237,507$53,689$11,282$172,537
15$247,008$56,827$11,733$178,447
16$256,888$60,286$12,202$184,400
17$267,164$63,882$12,690$190,591
18$277,850$67,622$13,198$197,030
19$288,964$71,512$13,726$203,726
20$300,523$75,558$14,275$210,690
21$312,544$79,765$14,846$217,933
22$325,045$84,141$15,440$225,465
23$338,047$88,691$16,057$233,299
24$351,569$93,424$16,700$241,446
25$365,632$98,346$17,368$249,918
26$380,257$103,465$18,062$258,730
27$395,467$108,788$18,785$267,894
28$411,286$114,325$19,536$277,425
29$427,737$120,083$20,318$287,337
30$444,847$126,071$21,130$297,646
Total$8,000,000$1,953,035$380,000$5,666,966

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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.