USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Aug 13, 2011

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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 $20,000,000 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, Aug 13, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$16,939$244,478
2$370,866$100,178$17,616$253,072
3$385,701$105,370$18,321$262,010
4$401,129$110,770$19,054$271,305
5$417,174$116,386$19,816$280,973
6$433,861$122,226$20,608$291,026
7$451,215$128,300$21,433$301,482
8$469,264$134,617$22,290$312,357
9$488,034$141,187$23,182$323,666
10$507,556$148,019$24,109$335,428
11$527,858$155,125$25,073$347,660
12$548,972$162,515$26,076$360,381
13$570,931$170,201$27,119$373,611
14$593,769$178,194$28,204$387,371
15$617,519$186,670$29,332$401,517
16$642,220$195,809$30,505$415,905
17$667,909$205,314$31,726$430,869
18$694,625$215,199$32,995$446,431
19$722,410$225,480$34,314$462,616
20$751,307$236,171$35,687$479,448
21$781,359$247,291$37,115$496,954
22$812,613$258,855$38,599$515,159
23$845,118$270,881$40,143$534,093
24$878,922$283,389$41,749$553,785
25$914,079$296,397$43,419$574,263
26$950,643$309,925$45,156$595,562
27$988,668$323,995$46,962$617,711
28$1,028,215$338,627$48,840$640,747
29$1,069,344$353,845$50,794$664,705
30$1,112,117$369,671$52,826$689,621
Total$20,000,000$6,185,792$950,002$12,864,206

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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.