USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Mar 27, 2023

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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 $122,200,000 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, Mar 27, 2023
Jackpot:$122,200,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,839,285$638,723$87,366$1,113,196
2$1,931,250$672,750$91,734$1,166,765
3$2,027,812$708,478$96,321$1,223,013
4$2,129,203$745,993$101,137$1,282,073
5$2,235,663$785,383$106,194$1,344,086
6$2,347,446$826,743$111,504$1,409,200
7$2,464,818$870,171$117,079$1,477,569
8$2,588,059$915,770$122,933$1,549,357
9$2,717,462$963,649$129,079$1,624,734
10$2,853,335$1,013,922$135,533$1,703,880
11$2,996,002$1,066,709$142,310$1,786,983
12$3,145,802$1,122,135$149,426$1,874,242
13$3,303,092$1,180,332$156,897$1,965,863
14$3,468,247$1,241,439$164,742$2,062,066
15$3,641,659$1,305,602$172,979$2,163,079
16$3,823,742$1,372,972$181,628$2,269,142
17$4,014,929$1,443,712$190,709$2,380,509
18$4,215,676$1,517,988$200,245$2,497,443
19$4,426,460$1,595,978$210,257$2,620,225
20$4,647,783$1,677,867$220,770$2,749,146
21$4,880,172$1,763,851$231,808$2,884,512
22$5,124,180$1,854,134$243,399$3,026,647
23$5,380,389$1,948,932$255,568$3,175,889
24$5,649,409$2,048,469$268,347$3,332,593
25$5,931,879$2,152,983$281,764$3,497,132
26$6,228,473$2,262,723$295,852$3,669,898
27$6,539,897$2,377,950$310,645$3,851,302
28$6,866,892$2,498,938$326,177$4,041,777
29$7,210,236$2,625,975$342,486$4,241,775
30$7,570,748$2,759,365$359,611$4,451,773
Total$122,200,000$43,959,636$5,804,500$72,435,869

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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.