USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Mar 29, 2008

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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 $37,800,000 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, Mar 29, 2008
Jackpot:$37,800,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$673,978$207,560$32,014$434,404
2$700,937$217,534$33,295$450,108
3$728,974$227,908$34,626$466,440
4$758,133$238,697$36,011$483,425
5$788,459$249,917$37,452$501,089
6$819,997$261,587$38,950$519,460
7$852,797$273,723$40,508$538,566
8$886,909$286,344$42,128$558,437
9$922,385$299,470$43,813$579,102
10$959,280$313,122$45,566$600,593
11$997,652$327,319$47,388$622,944
12$1,037,558$342,084$49,284$646,190
13$1,079,060$357,440$51,255$670,365
14$1,122,222$373,410$53,306$695,507
15$1,167,111$390,019$55,438$721,655
16$1,213,796$407,292$57,655$748,848
17$1,262,348$425,256$59,962$777,130
18$1,312,842$443,939$62,360$806,542
19$1,365,355$463,369$64,854$837,132
20$1,419,969$483,576$67,449$868,944
21$1,476,768$504,592$70,146$902,030
22$1,535,839$526,448$72,952$936,438
23$1,597,273$549,179$75,870$972,223
24$1,661,163$572,818$78,905$1,009,440
25$1,727,610$597,403$82,061$1,048,145
26$1,796,714$622,972$85,344$1,088,398
27$1,868,583$649,563$88,758$1,130,262
28$1,943,326$677,218$92,308$1,173,800
29$2,021,059$705,980$96,000$1,219,079
30$2,101,902$735,891$99,840$1,266,170
Total$37,800,000$12,731,630$1,795,498$23,272,866

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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.