USA Mega

Oklahoma Powerball Jackpot Annuity Payout Schedule for Apr 24, 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 $28,200,000 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, Apr 24, 2023
Jackpot:$28,200,000
Federal Tax:37% marginal rate
State Tax: 4.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$424,450$118,932$20,161$285,357
2$445,673$126,360$21,169$298,143
3$467,957$134,160$22,228$311,569
4$491,354$142,349$23,339$325,666
5$515,922$150,948$24,506$340,468
6$541,718$159,976$25,732$356,011
7$568,804$169,456$27,018$372,330
8$597,244$179,410$28,369$389,465
9$627,107$190,217$29,788$407,102
10$658,462$201,819$31,277$425,366
11$691,385$214,000$32,841$444,544
12$725,954$226,791$34,483$464,681
13$762,252$240,221$36,207$485,824
14$800,365$254,323$38,017$508,025
15$840,383$269,129$39,918$531,335
16$882,402$284,677$41,914$555,811
17$926,522$301,001$44,010$581,511
18$972,848$318,142$46,210$608,496
19$1,021,491$336,139$48,521$636,831
20$1,072,565$355,037$50,947$666,581
21$1,126,193$374,879$53,494$697,820
22$1,182,503$395,714$56,169$730,620
23$1,241,628$417,590$58,977$765,061
24$1,303,710$440,560$61,926$801,223
25$1,368,895$464,679$65,023$839,194
26$1,437,340$490,004$68,274$879,063
27$1,509,207$516,594$71,687$920,925
28$1,584,667$544,515$75,272$964,881
29$1,663,901$573,831$79,035$1,011,034
30$1,747,096$604,613$82,987$1,059,495
Total$28,200,000$9,196,066$1,339,499$17,664,432

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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.