USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Jun 26, 2002

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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 $12,000,000 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:Wed, Jun 26, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$10,163$157,644
2$222,520$48,893$10,570$163,057
3$231,420$51,741$10,992$168,687
4$240,677$54,703$11,432$174,542
5$250,304$57,981$11,889$180,434
6$260,317$61,486$12,365$186,466
7$270,729$65,130$12,860$192,740
8$281,558$68,920$13,374$199,264
9$292,821$72,862$13,909$206,050
10$304,533$76,961$14,465$213,107
11$316,715$81,225$15,044$220,446
12$329,383$85,659$15,646$228,079
13$342,559$90,270$16,272$236,017
14$356,261$95,066$16,922$244,273
15$370,512$100,054$17,599$252,858
16$385,332$105,241$18,303$261,788
17$400,745$110,636$19,035$271,074
18$416,775$116,246$19,797$280,732
19$433,446$122,081$20,589$290,777
20$450,784$128,149$21,412$301,223
21$468,815$134,460$22,269$312,086
22$487,568$141,024$23,159$323,385
23$507,071$147,849$24,086$335,135
24$527,353$154,948$25,049$347,356
25$548,448$162,331$26,051$360,065
26$570,386$170,010$27,093$373,283
27$593,201$177,995$28,177$387,029
28$616,929$186,451$29,304$401,173
29$641,606$195,582$30,476$415,548
30$667,270$205,078$31,695$430,497
Total$12,000,000$3,315,186$569,997$8,114,815

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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.