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Mega Millions Annuity Jackpot Analysis for Ohio (Nov. 2, 2018 Drawing)

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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 $52,000,000 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:  Nov. 2, 2018
Jackpot:$52,000,000
Federal Tax:  24%
State Tax:4.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$187,842$31,307$563,526
2$821,808$197,234$32,872$591,702
3$862,899$207,096$34,516$621,287
4$906,044$217,450$36,242$652,351
5$951,346$228,323$38,054$684,969
6$998,913$239,739$39,957$719,217
7$1,048,859$251,726$41,954$755,178
8$1,101,302$264,312$44,052$792,937
9$1,156,367$277,528$46,255$832,584
10$1,214,185$291,404$48,567$874,213
11$1,274,895$305,975$50,996$917,924
12$1,338,639$321,273$53,546$963,820
13$1,405,571$337,337$56,223$1,012,011
14$1,475,850$354,204$59,034$1,062,612
15$1,549,642$371,914$61,986$1,115,742
16$1,627,124$390,510$65,085$1,171,530
17$1,708,481$410,035$68,339$1,230,106
18$1,793,905$430,537$71,756$1,291,611
19$1,883,600$452,064$75,344$1,356,192
20$1,977,780$474,667$79,111$1,424,001
21$2,076,669$498,401$83,067$1,495,202
22$2,180,502$523,321$87,220$1,569,962
23$2,289,527$549,487$91,581$1,648,460
24$2,404,004$576,961$96,160$1,730,883
25$2,524,204$605,809$100,968$1,817,427
26$2,650,414$636,099$106,017$1,908,298
27$2,782,935$667,904$111,317$2,003,713
28$2,922,082$701,300$116,883$2,103,899
29$3,068,186$736,365$122,727$2,209,094
30$3,221,595$773,183$128,864$2,319,548
Total$52,000,000$12,480,000$2,080,000$37,440,000
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