USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Aug 31, 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 $62,400,000 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, Aug 31, 2002
Jackpot:$62,400,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,112,598$369,849$52,848$689,901
2$1,157,102$386,316$54,962$715,824
3$1,203,386$403,441$57,161$742,785
4$1,251,522$421,251$59,447$770,824
5$1,301,583$439,773$61,825$799,984
6$1,353,646$459,037$64,298$830,311
7$1,407,792$479,071$66,870$861,851
8$1,464,103$499,906$69,545$894,652
9$1,522,667$521,575$72,327$928,766
10$1,583,574$544,110$75,220$964,244
11$1,646,917$567,547$78,229$1,001,141
12$1,712,794$591,921$81,358$1,039,515
13$1,781,306$617,271$84,612$1,079,423
14$1,852,558$643,634$87,996$1,120,927
15$1,926,660$671,052$91,516$1,164,092
16$2,003,726$699,567$95,177$1,208,983
17$2,083,876$729,222$98,984$1,255,670
18$2,167,231$760,063$102,943$1,304,224
19$2,253,920$792,138$107,061$1,354,721
20$2,344,077$825,496$111,344$1,407,237
21$2,437,840$860,188$115,797$1,461,854
22$2,535,353$896,268$120,429$1,518,656
23$2,636,767$933,792$125,246$1,577,729
24$2,742,238$972,816$130,256$1,639,166
25$2,851,928$1,013,401$135,467$1,703,060
26$2,966,005$1,055,609$140,885$1,769,510
27$3,084,645$1,099,506$146,521$1,838,618
28$3,208,031$1,145,159$152,381$1,910,490
29$3,336,352$1,192,638$158,477$1,985,237
30$3,469,806$1,242,016$164,816$2,062,974
Total$62,400,000$21,833,633$2,963,998$37,602,369

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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.