USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jan 9, 1998

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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 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 $14,000,000 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 money, as well as deductions claimed.

State:

Ohio

Drawing Date:Fri, Jan 9, 1998
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$210,720$45,117$7,375$158,228
2$221,256$48,488$7,744$165,024
3$232,319$52,029$8,131$172,159
4$243,935$55,752$8,538$179,645
5$256,132$60,021$8,965$187,146
6$268,938$64,503$9,413$195,022
7$282,385$69,210$9,883$203,292
8$296,504$74,151$10,378$211,975
9$311,330$79,340$10,897$221,093
10$326,896$84,788$11,441$230,666
11$343,241$90,509$12,013$240,718
12$360,403$96,516$12,614$251,273
13$378,423$102,823$13,245$262,355
14$397,344$109,445$13,907$273,992
15$417,211$116,399$14,602$286,210
16$438,072$123,700$15,333$299,039
17$459,976$131,366$16,099$312,510
18$482,974$139,416$16,904$326,654
19$507,123$147,868$17,749$341,506
20$532,479$156,742$18,637$357,100
21$559,103$166,061$19,569$373,474
22$587,058$175,845$20,547$390,666
23$616,411$186,260$21,574$408,577
24$647,232$197,664$22,653$426,915
25$679,593$209,637$23,786$446,170
26$713,573$222,210$24,975$466,388
27$749,252$235,411$26,224$487,617
28$786,714$249,272$27,535$509,907
29$826,050$263,826$28,912$533,312
30$867,352$279,108$30,357$557,887
Total$14,000,000$4,033,477$490,000$9,476,520

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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.