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Ohio Mega Millions Jackpot Annuity Payout Schedule for Nov 18, 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 $238,000,000 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, Nov 18, 2022
Jackpot:$238,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,582,242$1,283,617$125,378$2,173,246
2$3,761,354$1,349,889$131,647$2,279,818
3$3,949,421$1,419,474$138,230$2,391,718
4$4,146,892$1,492,538$145,141$2,509,213
5$4,354,237$1,569,255$152,398$2,632,583
6$4,571,949$1,649,809$160,018$2,762,122
7$4,800,546$1,734,390$168,019$2,898,137
8$5,040,574$1,823,200$176,420$3,040,954
9$5,292,602$1,916,451$185,241$3,190,911
10$5,557,232$2,014,364$194,503$3,348,366
11$5,835,094$2,117,173$204,228$3,513,693
12$6,126,849$2,225,122$214,440$3,687,287
13$6,433,191$2,338,468$225,162$3,869,561
14$6,754,851$2,457,483$236,420$4,060,948
15$7,092,593$2,582,447$248,241$4,261,905
16$7,447,223$2,713,660$260,653$4,472,910
17$7,819,584$2,851,434$273,685$4,694,465
18$8,210,563$2,996,096$287,370$4,927,097
19$8,621,091$3,147,992$301,738$5,171,362
20$9,052,146$3,307,482$316,825$5,427,839
21$9,504,753$3,474,946$332,666$5,697,140
22$9,979,991$3,650,784$349,300$5,979,907
23$10,478,991$3,835,414$366,765$6,276,812
24$11,002,940$4,029,276$385,103$6,588,562
25$11,553,087$4,232,830$404,358$6,915,899
26$12,130,741$4,446,562$424,576$7,259,603
27$12,737,279$4,670,981$445,805$7,620,493
28$13,374,142$4,906,620$468,095$7,999,427
29$14,042,849$5,154,042$491,500$8,397,308
30$14,744,992$5,413,835$516,075$8,815,083
Total$238,000,000$86,805,634$8,330,000$142,864,369

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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.