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Ohio Mega Millions Jackpot Annuity Payout Schedule for Nov 1, 2022

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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 $87,000,000 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:Tue, Nov 1, 2022
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,309,475$442,693$45,832$820,950
2$1,374,949$466,919$48,123$859,907
3$1,443,696$492,355$50,529$900,811
4$1,515,881$519,064$53,056$943,761
5$1,591,675$547,107$55,709$988,859
6$1,671,259$576,553$58,494$1,036,211
7$1,754,822$607,472$61,419$1,085,931
8$1,842,563$639,936$64,490$1,138,137
9$1,934,691$674,023$67,714$1,192,953
10$2,031,425$709,815$71,100$1,250,510
11$2,132,997$747,396$74,655$1,310,945
12$2,239,646$786,857$78,388$1,374,402
13$2,351,629$828,290$82,307$1,441,031
14$2,469,210$871,796$86,422$1,510,992
15$2,592,671$917,476$90,743$1,584,451
16$2,722,304$965,440$95,281$1,661,583
17$2,858,419$1,015,803$100,045$1,742,572
18$3,001,340$1,068,684$105,047$1,827,610
19$3,151,407$1,124,208$110,299$1,916,900
20$3,308,978$1,182,510$115,814$2,010,654
21$3,474,427$1,243,726$121,605$2,109,096
22$3,648,148$1,308,002$127,685$2,212,460
23$3,830,555$1,375,493$134,069$2,320,993
24$4,022,083$1,446,358$140,773$2,434,952
25$4,223,187$1,520,767$147,812$2,554,609
26$4,434,347$1,598,896$155,202$2,680,249
27$4,656,064$1,680,931$162,962$2,812,170
28$4,888,867$1,767,069$171,110$2,950,688
29$5,133,311$1,857,513$179,666$3,096,132
30$5,389,976$1,952,479$188,649$3,248,848
Total$87,000,000$30,935,631$3,045,000$53,019,367

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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.