USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Nov 14, 2022

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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 $62,900,000 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:Mon, Nov 14, 2022
Jackpot:$62,900,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$946,735$308,480$44,970$593,286
2$994,072$325,994$47,218$620,859
3$1,043,776$344,385$49,579$649,812
4$1,095,964$363,695$52,058$680,212
5$1,150,763$383,970$54,661$712,131
6$1,208,301$405,259$57,394$745,647
7$1,268,716$427,613$60,264$780,839
8$1,332,152$451,084$63,277$817,791
9$1,398,759$475,729$66,441$856,589
10$1,468,697$501,606$69,763$897,328
11$1,542,132$528,777$73,251$940,104
12$1,619,239$557,306$76,914$985,019
13$1,700,201$587,262$80,760$1,032,179
14$1,785,211$618,716$84,798$1,081,697
15$1,874,471$651,742$89,037$1,133,692
16$1,968,195$686,420$93,489$1,188,286
17$2,066,604$722,831$98,164$1,245,609
18$2,169,935$761,064$103,072$1,305,799
19$2,278,431$801,207$108,225$1,368,998
20$2,392,353$843,358$113,637$1,435,358
21$2,511,971$887,617$119,319$1,505,035
22$2,637,569$934,088$125,285$1,578,196
23$2,769,447$982,883$131,549$1,655,015
24$2,907,920$1,034,118$138,126$1,735,676
25$3,053,316$1,087,915$145,033$1,820,369
26$3,205,982$1,144,401$152,284$1,909,297
27$3,366,281$1,203,712$159,898$2,002,671
28$3,534,595$1,265,988$167,893$2,100,714
29$3,711,324$1,331,378$176,288$2,203,659
30$3,896,891$1,400,037$185,102$2,311,751
Total$62,900,000$22,018,635$2,987,749$37,893,618

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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.