USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Aug 28, 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 $55,300,000 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 28, 2002
Jackpot:$55,300,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$986,004$323,009$46,835$616,160
2$1,025,445$337,602$48,709$639,134
3$1,066,462$352,779$50,657$663,027
4$1,109,121$368,562$52,683$687,875
5$1,153,486$384,977$54,791$713,718
6$1,199,625$402,049$56,982$740,594
7$1,247,610$419,804$59,261$768,545
8$1,297,515$438,268$61,632$797,615
9$1,349,415$457,471$64,097$827,847
10$1,403,392$477,443$66,661$859,288
11$1,459,527$498,213$69,328$891,987
12$1,517,909$519,814$72,101$925,994
13$1,578,625$542,279$74,985$961,361
14$1,641,770$565,643$77,984$998,143
15$1,707,441$589,941$81,103$1,036,396
16$1,775,738$615,211$84,348$1,076,180
17$1,846,768$641,492$87,721$1,117,555
18$1,920,639$668,824$91,230$1,160,584
19$1,997,464$697,249$94,880$1,205,335
20$2,077,363$726,812$98,675$1,251,876
21$2,160,457$757,557$102,622$1,300,279
22$2,246,876$789,532$106,727$1,350,617
23$2,336,751$822,785$110,996$1,402,969
24$2,430,221$857,369$115,435$1,457,416
25$2,527,429$893,337$120,053$1,514,040
26$2,628,527$930,743$124,855$1,572,929
27$2,733,668$969,645$129,849$1,634,174
28$2,843,014$1,010,103$135,043$1,697,868
29$2,956,735$1,052,180$140,445$1,764,110
30$3,075,004$1,095,939$146,063$1,833,002
Total$55,300,000$19,206,632$2,626,751$33,466,618

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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.