USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for May 29, 2020

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2021 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 $336,000,000 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:Fri, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 4.797%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$242,598$2,979,418
2$5,310,146$1,928,826$254,728$3,126,592
3$5,575,654$2,027,064$267,464$3,281,125
4$5,854,436$2,130,214$280,837$3,443,385
5$6,147,158$2,238,521$294,879$3,613,758
6$6,454,516$2,352,243$309,623$3,792,650
7$6,777,242$2,471,652$325,104$3,980,486
8$7,116,104$2,597,031$341,360$4,177,714
9$7,471,909$2,728,679$358,427$4,384,803
10$7,845,505$2,866,909$376,349$4,602,247
11$8,237,780$3,012,051$395,166$4,830,563
12$8,649,669$3,164,450$414,925$5,070,295
13$9,082,152$3,324,469$435,671$5,322,013
14$9,536,260$3,492,488$457,454$5,586,317
15$10,013,073$3,668,909$480,327$5,863,837
16$10,513,727$3,854,151$504,343$6,155,232
17$11,039,413$4,048,655$529,561$6,461,197
18$11,591,383$4,252,884$556,039$6,782,461
19$12,170,953$4,467,325$583,841$7,119,787
20$12,779,500$4,692,487$613,033$7,473,980
21$13,418,475$4,928,908$643,684$7,845,883
22$14,089,399$5,177,150$675,868$8,236,381
23$14,793,869$5,437,804$709,662$8,646,403
24$15,533,562$5,711,490$745,145$9,076,927
25$16,310,240$5,998,861$782,402$9,528,977
26$17,125,753$6,300,601$821,522$10,003,630
27$17,982,040$6,617,427$862,598$10,502,015
28$18,881,142$6,950,095$905,728$11,025,319
29$19,825,199$7,299,396$951,015$11,574,788
30$20,816,459$7,666,162$998,566$12,151,732
Total$336,000,001$123,242,169$16,117,919$196,639,915

◄ Back to Jackpot Analysis

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.