USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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The tax information provided here is based on 2025 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 $56,000,000 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, Mar 22, 2002
Jackpot:$56,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$842,880$268,886$29,501$544,494
2$885,024$284,479$30,976$569,569
3$929,276$300,852$32,525$595,899
4$975,739$318,044$34,151$623,545
5$1,024,526$336,095$35,858$652,573
6$1,075,753$355,049$37,651$683,053
7$1,129,540$374,950$39,534$715,056
8$1,186,017$395,847$41,511$748,660
9$1,245,318$417,788$43,586$783,944
10$1,307,584$440,826$45,765$820,992
11$1,372,963$465,017$48,054$859,893
12$1,441,611$490,416$50,456$900,739
13$1,513,692$517,086$52,979$943,627
14$1,589,377$545,090$55,628$988,659
15$1,668,845$574,493$58,410$1,035,943
16$1,752,288$605,367$61,330$1,085,591
17$1,839,902$637,784$64,397$1,137,722
18$1,931,897$671,822$67,616$1,192,459
19$2,028,492$707,562$70,997$1,249,933
20$2,129,917$745,089$74,547$1,310,280
21$2,236,413$784,493$78,274$1,373,645
22$2,348,233$825,867$82,188$1,440,178
23$2,465,645$869,309$86,298$1,510,038
24$2,588,927$914,923$90,612$1,583,391
25$2,718,373$962,818$95,143$1,660,412
26$2,854,292$1,013,108$99,900$1,741,284
27$2,997,007$1,065,913$104,895$1,826,199
28$3,146,857$1,121,357$110,140$1,915,360
29$3,304,200$1,179,574$115,647$2,008,979
30$3,469,410$1,240,702$121,429$2,107,279
Total$56,000,000$19,430,606$1,959,998$34,609,396

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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.