USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 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 $1,337,000,000 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 29, 2022
Jackpot:$1,337,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,123,769$7,403,982$704,332$12,015,455
2$21,129,957$7,776,272$739,549$12,614,137
3$22,186,455$8,167,176$776,526$13,242,753
4$23,295,778$8,577,626$815,352$13,902,800
5$24,460,566$9,008,597$856,120$14,595,849
6$25,683,595$9,461,118$898,926$15,323,551
7$26,967,775$9,936,265$943,872$16,087,639
8$28,316,164$10,435,168$991,066$16,889,930
9$29,731,972$10,959,017$1,040,619$17,732,336
10$31,218,570$11,509,059$1,092,650$18,616,862
11$32,779,499$12,086,602$1,147,282$19,545,614
12$34,418,474$12,693,023$1,204,647$20,520,804
13$36,139,397$13,329,765$1,264,879$21,544,754
14$37,946,368$13,998,344$1,328,123$22,619,901
15$39,843,686$14,700,351$1,394,529$23,748,805
16$41,835,870$15,437,460$1,464,255$24,934,155
17$43,927,663$16,211,423$1,537,468$26,178,772
18$46,124,047$17,024,085$1,614,342$27,485,620
19$48,430,249$17,877,380$1,695,059$28,857,810
20$50,851,761$18,773,340$1,779,812$30,298,610
21$53,394,349$19,714,097$1,868,802$31,811,450
22$56,064,067$20,701,892$1,962,242$33,399,932
23$58,867,270$21,739,078$2,060,354$35,067,838
24$61,810,633$22,828,122$2,163,372$36,819,139
25$64,901,165$23,971,619$2,271,541$38,658,005
26$68,146,224$25,172,291$2,385,118$40,588,816
27$71,553,535$26,432,996$2,504,374$42,616,166
28$75,131,211$27,756,736$2,629,592$44,744,883
29$78,887,772$29,146,663$2,761,072$46,980,036
30$82,832,161$30,606,087$2,899,126$49,326,948
Total$1,337,000,003$493,435,634$46,795,001$796,769,370

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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.