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Mega Millions Annuity Jackpot Analysis for Ohio

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $192,000,000 would be for a resident of Ohio, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Ohio

Drawing Date:  Tue, Apr 23, 2019
Jackpot:$192,000,000
Federal Tax:  24%
State Tax:4.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,889,876$693,570$115,595$2,080,710
2$3,034,369$728,249$121,375$2,184,746
3$3,186,088$764,661$127,444$2,293,983
4$3,345,392$802,894$133,816$2,408,682
5$3,512,662$843,039$140,506$2,529,116
6$3,688,295$885,191$147,532$2,655,572
7$3,872,710$929,450$154,908$2,788,351
8$4,066,345$975,923$162,654$2,927,769
9$4,269,662$1,024,719$170,786$3,074,157
10$4,483,145$1,075,955$179,326$3,227,865
11$4,707,303$1,129,753$188,292$3,389,258
12$4,942,668$1,186,240$197,707$3,558,721
13$5,189,801$1,245,552$207,592$3,736,657
14$5,449,291$1,307,830$217,972$3,923,490
15$5,721,756$1,373,221$228,870$4,119,664
16$6,007,844$1,441,883$240,314$4,325,648
17$6,308,236$1,513,977$252,329$4,541,930
18$6,623,648$1,589,675$264,946$4,769,026
19$6,954,830$1,669,159$278,193$5,007,478
20$7,302,572$1,752,617$292,103$5,257,852
21$7,667,700$1,840,248$306,708$5,520,744
22$8,051,085$1,932,260$322,043$5,796,781
23$8,453,639$2,028,873$338,146$6,086,620
24$8,876,321$2,130,317$355,053$6,390,951
25$9,320,137$2,236,833$372,805$6,710,499
26$9,786,144$2,348,675$391,446$7,046,024
27$10,275,452$2,466,108$411,018$7,398,325
28$10,789,224$2,589,414$431,569$7,768,241
29$11,328,685$2,718,884$453,147$8,156,653
30$11,895,120$2,854,829$475,805$8,564,486
Total$192,000,000$46,080,000$7,680,000$138,240,000
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