USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Aug 21, 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 $22,000,000 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, Aug 21, 1998
Jackpot:$22,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$331,132$86,271$11,590$233,271
2$347,688$92,066$12,169$243,453
3$365,073$98,150$12,778$254,145
4$383,326$104,539$13,416$265,371
5$402,492$111,247$14,087$277,158
6$422,617$118,291$14,792$289,535
7$443,748$125,687$15,531$302,530
8$465,935$133,452$16,308$316,176
9$489,232$141,606$17,123$330,503
10$513,694$150,168$17,979$345,547
11$539,378$159,157$18,878$361,343
12$566,347$168,596$19,822$377,929
13$594,665$178,507$20,813$395,344
14$624,398$189,215$21,854$413,329
15$655,618$200,766$22,947$431,905
16$688,399$212,895$24,094$451,410
17$722,819$225,631$25,299$471,889
18$758,960$239,003$26,564$493,393
19$796,908$253,044$27,892$515,972
20$836,753$267,786$29,286$539,680
21$878,591$283,266$30,751$564,574
22$922,520$299,520$32,288$590,712
23$968,646$316,587$33,903$618,157
24$1,017,078$334,507$35,598$646,974
25$1,067,932$353,323$37,378$677,232
26$1,121,329$373,079$39,247$709,003
27$1,177,395$393,824$41,209$742,363
28$1,236,265$415,606$43,269$777,390
29$1,298,079$438,477$45,433$814,169
30$1,362,982$462,491$47,704$852,787
Total$22,000,000$6,926,757$770,002$14,303,244

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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.