USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jun 23, 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 $320,000,000 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, Jun 23, 2023
Jackpot:$320,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,816,459$1,740,278$168,576$2,907,605
2$5,057,282$1,829,382$177,005$3,050,895
3$5,310,146$1,922,942$185,855$3,201,349
4$5,575,654$2,021,180$195,148$3,359,326
5$5,854,436$2,124,329$204,905$3,525,202
6$6,147,158$2,232,636$215,151$3,699,371
7$6,454,516$2,346,359$225,908$3,882,249
8$6,777,242$2,465,767$237,203$4,074,271
9$7,116,104$2,591,146$249,064$4,275,894
10$7,471,909$2,722,794$261,517$4,487,598
11$7,845,505$2,861,024$274,593$4,709,888
12$8,237,780$3,006,166$288,322$4,943,291
13$8,649,669$3,158,565$302,738$5,188,365
14$9,082,152$3,318,584$317,875$5,445,693
15$9,536,260$3,486,604$333,769$5,715,887
16$10,013,073$3,663,025$350,458$5,999,591
17$10,513,726$3,848,267$367,980$6,297,479
18$11,039,413$4,042,770$386,379$6,610,263
19$11,591,383$4,247,000$405,698$6,938,685
20$12,170,953$4,461,440$425,983$7,283,529
21$12,779,500$4,686,603$447,283$7,645,615
22$13,418,475$4,923,024$469,647$8,025,805
23$14,089,399$5,171,265$493,129$8,425,005
24$14,793,869$5,431,919$517,785$8,844,164
25$15,533,562$5,705,606$543,675$9,284,282
26$16,310,241$5,992,977$570,858$9,746,405
27$17,125,753$6,294,716$599,401$10,231,635
28$17,982,040$6,611,543$629,371$10,741,126
29$18,881,142$6,944,210$660,840$11,276,092
30$19,825,199$7,293,512$693,882$11,837,806
Total$320,000,001$117,145,633$11,199,998$191,654,366

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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.