USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 2013

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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 $47,000,000 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:Tue, Jan 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 4.797%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$33,935$448,783
2$742,788$237,787$35,632$469,370
3$779,928$251,528$37,413$490,986
4$818,924$265,957$39,284$513,683
5$859,870$281,107$41,248$537,515
6$902,864$297,015$43,310$562,539
7$948,007$313,718$45,476$588,814
8$995,407$331,256$47,750$616,402
9$1,045,178$349,671$50,137$645,370
10$1,097,437$369,007$52,644$675,786
11$1,152,308$389,309$55,276$707,723
12$1,209,924$410,627$58,040$741,257
13$1,270,420$433,010$60,942$776,468
14$1,333,941$456,513$63,989$813,439
15$1,400,638$481,191$67,189$852,258
16$1,470,670$507,103$70,548$893,019
17$1,544,204$534,310$74,075$935,818
18$1,621,414$562,878$77,779$980,756
19$1,702,484$592,874$81,668$1,027,942
20$1,787,609$624,370$85,752$1,077,487
21$1,876,989$657,441$90,039$1,129,509
22$1,970,839$692,165$94,541$1,184,132
23$2,069,380$728,626$99,268$1,241,487
24$2,172,849$766,909$104,232$1,301,709
25$2,281,492$807,107$109,443$1,364,942
26$2,395,567$849,315$114,915$1,431,337
27$2,515,345$893,633$120,661$1,501,051
28$2,641,112$940,166$126,694$1,574,251
29$2,773,168$989,027$133,029$1,651,112
30$2,911,826$1,040,331$139,680$1,731,815
Total$47,000,000$16,278,650$2,254,589$28,466,760

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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.