USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for May 22, 2013

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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 $40,000,000 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:Wed, May 22, 2013
Jackpot:$40,000,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$713,204$222,073$33,877$457,254
2$741,732$232,629$35,232$473,871
3$771,401$243,606$36,642$491,154
4$802,257$255,023$38,107$509,127
5$834,348$266,896$39,632$527,820
6$867,722$279,245$41,217$547,260
7$902,431$292,087$42,865$567,478
8$938,528$305,443$44,580$588,505
9$976,069$319,333$46,363$610,372
10$1,015,112$333,779$48,218$633,115
11$1,055,716$348,803$50,147$656,767
12$1,097,945$364,427$52,152$681,365
13$1,141,863$380,677$54,238$706,947
14$1,187,537$397,576$56,408$733,553
15$1,235,039$415,152$58,664$761,222
16$1,284,440$433,431$61,011$789,999
17$1,335,818$452,440$63,451$819,926
18$1,389,250$472,210$65,989$851,051
19$1,444,820$492,771$68,629$883,420
20$1,502,613$514,155$71,374$917,084
21$1,562,718$536,393$74,229$952,095
22$1,625,226$559,522$77,198$988,507
23$1,690,235$583,575$80,286$1,026,374
24$1,757,845$608,590$83,498$1,065,757
25$1,828,159$634,606$86,838$1,106,715
26$1,901,285$661,663$90,311$1,149,311
27$1,977,336$689,802$93,923$1,193,611
28$2,056,430$719,067$97,680$1,239,683
29$2,138,687$749,502$101,588$1,287,597
30$2,224,235$781,155$105,651$1,337,429
Total$40,000,000$13,545,631$1,899,998$24,554,369

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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.