USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jun 13, 2023

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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 $260,000,000 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, Jun 13, 2023
Jackpot:$260,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,913,373$1,406,136$136,968$2,370,269
2$4,109,042$1,478,533$143,816$2,486,692
3$4,314,494$1,554,550$151,007$2,608,936
4$4,530,219$1,634,369$158,558$2,737,292
5$4,756,729$1,718,178$166,486$2,872,066
6$4,994,566$1,806,177$174,810$3,013,579
7$5,244,294$1,898,577$183,550$3,162,167
8$5,506,509$1,995,596$192,728$3,318,185
9$5,781,835$2,097,467$202,364$3,482,004
10$6,070,926$2,204,430$212,482$3,654,013
11$6,374,473$2,316,743$223,107$3,834,623
12$6,693,196$2,434,670$234,262$4,024,264
13$7,027,856$2,558,494$245,975$4,223,387
14$7,379,249$2,688,510$258,274$4,432,465
15$7,748,211$2,825,026$271,187$4,651,998
16$8,135,622$2,968,368$284,747$4,882,507
17$8,542,403$3,118,877$298,984$5,124,542
18$8,969,523$3,276,911$313,933$5,378,678
19$9,417,999$3,442,847$329,630$5,645,522
20$9,888,899$3,617,080$346,111$5,925,707
21$10,383,344$3,800,025$363,417$6,219,902
22$10,902,511$3,992,117$381,588$6,528,806
23$11,447,637$4,193,813$400,667$6,853,156
24$12,020,018$4,405,595$420,701$7,193,723
25$12,621,019$4,627,965$441,736$7,551,319
26$13,252,071$4,861,454$463,822$7,926,794
27$13,914,674$5,106,617$487,014$8,321,043
28$14,610,408$5,364,039$511,364$8,735,005
29$15,340,928$5,634,331$536,932$9,169,664
30$16,107,974$5,918,138$563,779$9,626,057
Total$260,000,001$94,945,633$9,099,999$155,954,365

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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.