USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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:Sat, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$697,067$94,856$1,205,048
2$2,076,850$726,622$98,650$1,251,577
3$2,159,924$757,360$102,596$1,299,968
4$2,246,321$789,326$106,700$1,350,294
5$2,336,174$822,572$110,968$1,402,633
6$2,429,621$857,147$115,407$1,457,066
7$2,526,806$893,106$120,023$1,513,676
8$2,627,878$930,503$124,824$1,572,551
9$2,732,993$969,395$129,817$1,633,781
10$2,842,313$1,009,843$135,010$1,697,459
11$2,956,005$1,051,910$140,410$1,763,685
12$3,074,245$1,095,658$146,027$1,832,560
13$3,197,215$1,141,157$151,868$1,904,190
14$3,325,104$1,188,476$157,942$1,978,685
15$3,458,108$1,237,688$164,260$2,056,160
16$3,596,432$1,288,868$170,831$2,136,734
17$3,740,289$1,342,095$177,664$2,220,531
18$3,889,901$1,397,451$184,770$2,307,680
19$4,045,497$1,455,022$192,161$2,398,314
20$4,207,317$1,514,895$199,848$2,492,574
21$4,375,610$1,577,163$207,841$2,590,605
22$4,550,634$1,641,922$216,155$2,692,557
23$4,732,659$1,709,272$224,801$2,798,586
24$4,921,966$1,779,315$233,793$2,908,857
25$5,118,844$1,852,160$243,145$3,023,539
26$5,323,598$1,927,919$252,871$3,142,808
27$5,536,542$2,006,708$262,986$3,266,848
28$5,758,004$2,088,649$273,505$3,395,849
29$5,988,324$2,173,868$284,445$3,530,011
30$6,227,857$2,262,495$295,823$3,669,539
Total$112,000,000$40,185,632$5,319,997$66,494,365

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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.