USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
Federal Tax:37% marginal rate
State Tax: 4.797%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,107,201$743,737$101,082$1,262,382
2$2,212,561$782,720$106,137$1,323,705
3$2,323,189$823,652$111,443$1,388,093
4$2,439,349$866,631$117,016$1,455,702
5$2,561,316$911,759$122,866$1,526,690
6$2,689,382$959,143$129,010$1,601,229
7$2,823,851$1,008,897$135,460$1,679,494
8$2,965,043$1,061,138$142,233$1,761,672
9$3,113,296$1,115,992$149,345$1,847,959
10$3,268,960$1,173,588$156,812$1,938,561
11$3,432,408$1,234,063$164,653$2,033,692
12$3,604,029$1,297,563$172,885$2,133,581
13$3,784,230$1,364,237$181,530$2,238,463
14$3,973,442$1,434,246$190,606$2,348,590
15$4,172,114$1,507,754$200,136$2,464,223
16$4,380,719$1,584,938$210,143$2,585,638
17$4,599,755$1,665,982$220,650$2,713,123
18$4,829,743$1,751,077$231,683$2,846,983
19$5,071,230$1,840,427$243,267$2,987,536
20$5,324,792$1,934,245$255,430$3,135,116
21$5,591,031$2,032,754$268,202$3,290,076
22$5,870,583$2,136,188$281,612$3,452,783
23$6,164,112$2,244,794$295,692$3,623,626
24$6,472,318$2,358,830$310,477$3,803,011
25$6,795,933$2,478,568$326,001$3,991,365
26$7,135,730$2,604,292$342,301$4,189,137
27$7,492,517$2,736,303$359,416$4,396,797
28$7,867,143$2,874,915$377,387$4,614,841
29$8,260,500$3,020,457$396,256$4,843,786
30$8,673,525$3,173,276$416,069$5,084,179
Total$140,000,000$50,722,166$6,715,800$82,562,033

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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.