Jackpot Analysis Oklahoma Mega Millions

Jackpot Analysis for Oklahoma Mega Millions
The jackpot for the MEGA Millions draw on Fri Nov 1, 2024, is projected to be $281 Million, with an option for a cash payout of $129.8 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Oklahoma residents, the state will deduct 4.75% from your lottery earnings.

Oklahoma MEGA Millions Jackpot/Cash Option for Fri Nov 1, 2024
Draw DateFri Nov 1, 2024
Projected Jackpot$281,000,000
Cash Value$129,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$129,800,000
Federal Tax(24%)$31,152,000
Additional Federal Tax$16,834,330
State Tax(4.75%)$6,165,500
Net Lumpsum Payment$75,648,170
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $4,229,331 $1,525,183
$200,893
$2,503,255
2 $4,440,924 $1,603,472
$210,944
$2,626,508
3 $4,662,914 $1,685,609
$221,488
$2,755,817
4 $4,896,144 $1,771,904
$232,567
$2,891,673
5 $5,140,895 $1,862,462
$244,193
$3,034,240
6 $5,398,010 $1,957,594
$256,405
$3,184,011
7 $5,667,770 $2,057,405
$269,219
$3,341,146
8 $5,951,299 $2,162,311
$282,687
$3,506,301
9 $6,248,878 $2,272,415
$296,822
$3,679,641
10 $6,561,350 $2,388,030
$311,664
$3,861,656
11 $6,889,277 $2,509,363
$327,241
$4,052,673
12 $7,233,783 $2,636,830
$343,605
$4,253,348
13 $7,595,430 $2,770,639
$360,783
$4,464,008
14 $7,975,342 $2,911,207
$378,829
$4,685,306
15 $8,374,081 $3,058,740
$397,769
$4,917,572
16 $8,792,771 $3,213,656
$417,657
$5,161,458
17 $9,232,255 $3,376,265
$438,532
$5,417,458
18 $9,693,938 $3,547,087
$460,462
$5,686,389
19 $10,178,663 $3,726,436
$483,486
$5,968,741
20 $10,687,554 $3,914,725
$507,659
$6,265,170
21 $11,222,016 $4,112,476
$533,046
$6,576,494
22 $11,783,173 $4,320,104
$559,701
$6,903,368
23 $12,372,149 $4,538,026
$587,677
$7,246,446
24 $12,990,911 $4,766,967
$617,068
$7,606,876
25 $13,640,302 $5,007,242
$647,914
$7,985,146
26 $14,322,570 $5,259,681
$680,322
$8,382,567
27 $15,038,558 $5,524,597
$714,332
$8,799,629
28 $15,790,514 $5,802,821
$750,049
$9,237,644
29 $16,580,124 $6,094,976
$787,556
$9,697,592
30 $17,409,074 $6,401,688
$826,931
$10,180,455