USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Aug 14, 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 $32,000,000 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, Aug 14, 2002
Jackpot:$32,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$570,563$170,072$27,102$373,390
2$593,386$178,060$28,186$387,140
3$617,121$186,523$29,313$401,285
4$641,806$195,656$30,486$415,664
5$667,478$205,155$31,705$430,618
6$694,177$215,033$32,973$446,171
7$721,944$225,307$34,292$462,345
8$750,822$235,992$35,664$479,166
9$780,855$247,104$37,091$496,660
10$812,089$258,661$38,574$514,854
11$844,573$270,680$40,117$533,776
12$878,356$283,179$41,722$553,454
13$913,490$296,179$43,391$573,920
14$950,030$309,699$45,126$595,205
15$988,031$323,759$46,931$617,340
16$1,027,552$338,382$48,809$640,361
17$1,068,654$353,590$50,761$664,303
18$1,111,400$369,406$52,792$689,203
19$1,155,856$385,855$54,903$715,099
20$1,202,091$402,961$57,099$742,030
21$1,250,174$420,752$59,383$770,039
22$1,300,181$439,255$61,759$799,168
23$1,352,188$458,497$64,229$829,462
24$1,406,276$478,510$66,798$860,968
25$1,462,527$499,323$69,470$893,734
26$1,521,028$520,968$72,249$927,811
27$1,581,869$543,479$75,139$963,251
28$1,645,144$566,891$78,144$1,000,109
29$1,710,950$591,239$81,270$1,038,440
30$1,779,388$616,561$84,521$1,078,306
Total$32,000,000$10,586,728$1,519,999$19,893,272

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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.