USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Feb 10, 2023

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The tax information provided here is based on 2022 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 Mega Millions 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 $50,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

Ohio

Drawing Date:Fri, Feb 10, 2023
Jackpot:$50,000,000
Federal Tax:37% marginal rate
State Tax: 3.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,572$241,407$30,028$481,138
2$790,200$255,329$31,529$503,342
3$829,710$269,948$33,105$526,657
4$871,196$285,297$34,761$551,138
5$914,756$301,415$36,499$576,842
6$960,493$318,338$38,324$603,832
7$1,008,518$336,107$40,240$632,172
8$1,058,944$354,764$42,252$661,928
9$1,111,891$374,355$44,364$693,172
10$1,167,486$394,925$46,583$725,978
11$1,225,860$416,523$48,912$760,425
12$1,287,153$439,202$51,357$796,594
13$1,351,511$463,014$53,925$834,571
14$1,419,086$488,017$56,622$874,448
15$1,490,041$514,270$59,453$916,318
16$1,564,543$541,836$62,425$960,282
17$1,642,770$570,780$65,547$1,006,443
18$1,724,908$601,171$68,824$1,054,913
19$1,811,154$633,082$72,265$1,105,807
20$1,901,711$666,588$75,878$1,159,245
21$1,996,797$701,770$79,672$1,215,355
22$2,096,637$738,711$83,656$1,274,270
23$2,201,469$777,498$87,839$1,336,132
24$2,311,542$818,226$92,231$1,401,086
25$2,427,119$860,989$96,842$1,469,288
26$2,548,475$905,891$101,684$1,540,900
27$2,675,899$953,038$106,768$1,616,093
28$2,809,694$1,002,542$112,107$1,695,045
29$2,950,178$1,054,521$117,712$1,777,945
30$3,097,687$1,109,099$123,598$1,864,990
Total$50,000,000$17,388,653$1,995,002$30,616,349

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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.