USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jun 26, 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 $13,000,000 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, Jun 26, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$6,848$148,520
2$205,452$43,431$7,191$154,830
3$215,725$46,718$7,550$161,456
4$226,511$50,170$7,928$168,413
5$237,836$53,794$8,324$175,718
6$249,728$57,780$8,740$183,208
7$262,215$62,150$9,178$190,887
8$275,325$66,739$9,636$198,950
9$289,092$71,557$10,118$207,417
10$303,546$76,616$10,624$216,306
11$318,724$81,928$11,155$225,640
12$334,660$87,506$11,713$235,441
13$351,393$93,362$12,299$245,732
14$368,962$99,512$12,914$256,537
15$387,411$105,968$13,559$267,883
16$406,781$112,748$14,237$279,796
17$427,120$119,867$14,949$292,304
18$448,476$127,341$15,697$305,438
19$470,900$135,190$16,481$319,229
20$494,445$143,430$17,306$333,709
21$519,167$152,083$18,171$348,913
22$545,126$161,169$19,079$364,877
23$572,382$170,708$20,033$381,640
24$601,001$180,725$21,035$399,241
25$631,051$191,677$22,087$417,288
26$662,604$203,351$23,191$436,061
27$695,734$215,609$24,351$455,774
28$730,520$228,480$25,568$476,472
29$767,046$241,995$26,847$498,205
30$805,399$256,185$28,189$521,024
Total$13,000,000$3,678,089$454,998$8,866,909

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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.