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Ohio Mega Millions Jackpot Annuity Payout Schedule for Jul 22, 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 $660,000,000 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, Jul 22, 2022
Jackpot:$660,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,933,947$3,633,748$347,688$5,952,511
2$10,430,645$3,817,526$365,073$6,248,046
3$10,952,177$4,010,493$383,326$6,558,357
4$11,499,786$4,213,109$402,493$6,884,185
5$12,074,775$4,425,854$422,617$7,226,303
6$12,678,514$4,649,238$443,748$7,585,528
7$13,312,440$4,883,790$465,935$7,962,714
8$13,978,061$5,130,070$489,232$8,358,759
9$14,676,965$5,388,665$513,694$8,774,606
10$15,410,813$5,660,188$539,378$9,211,246
11$16,181,353$5,945,288$566,347$9,669,717
12$16,990,421$6,244,643$594,665$10,151,113
13$17,839,942$6,558,966$624,398$10,656,578
14$18,731,939$6,889,005$655,618$11,187,316
15$19,668,536$7,235,546$688,399$11,744,591
16$20,651,963$7,599,414$722,819$12,329,730
17$21,684,561$7,981,475$758,960$12,944,126
18$22,768,789$8,382,640$796,908$13,589,242
19$23,907,228$8,803,862$836,753$14,266,613
20$25,102,590$9,246,146$878,591$14,977,853
21$26,357,719$9,710,544$922,520$15,724,655
22$27,675,605$10,198,162$968,646$16,508,797
23$29,059,386$10,710,160$1,017,078$17,332,147
24$30,512,354$11,247,759$1,067,932$18,196,663
25$32,037,972$11,812,237$1,121,329$19,104,406
26$33,639,871$12,404,940$1,177,395$20,057,536
27$35,321,865$13,027,278$1,236,265$21,058,322
28$37,087,958$13,680,732$1,298,079$22,109,147
29$38,942,356$14,366,859$1,362,982$23,212,514
30$40,889,474$15,087,293$1,431,132$24,371,049
Total$660,000,001$242,945,630$23,100,000$393,954,370

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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.