USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Jul 6, 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 $20,900,000 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, Jul 6, 2002
Jackpot:$20,900,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$372,649$100,802$17,701$254,146
2$387,555$106,019$18,409$263,127
3$403,057$111,445$19,145$272,467
4$419,180$117,088$19,911$282,181
5$435,947$122,956$20,707$292,283
6$453,385$129,059$21,536$302,789
7$471,520$135,407$22,397$313,716
8$490,381$142,008$23,293$325,080
9$509,996$148,873$24,225$336,898
10$530,396$156,013$25,194$349,189
11$551,612$163,439$26,202$361,971
12$573,676$171,161$27,250$375,265
13$596,623$179,193$28,340$389,091
14$620,488$187,768$29,473$403,247
15$645,308$196,952$30,652$417,704
16$671,120$206,502$31,878$432,740
17$697,965$216,435$33,153$448,377
18$725,883$226,765$34,479$464,639
19$754,919$237,508$35,859$481,552
20$785,115$248,680$37,293$499,142
21$816,520$260,300$38,785$517,435
22$849,181$272,385$40,336$536,460
23$883,148$284,953$41,950$556,246
24$918,474$298,023$43,628$576,823
25$955,213$311,617$45,373$598,224
26$993,421$325,754$47,188$620,480
27$1,033,158$340,456$49,075$643,627
28$1,074,485$355,747$51,038$667,700
29$1,117,464$371,649$53,080$692,735
30$1,162,163$388,188$55,203$718,772
Total$20,900,000$6,513,145$992,753$13,394,106

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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.