USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Jul 25, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $820,000,000 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, Jul 25, 2023
Jackpot:$820,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,342,177$4,524,793$431,976$7,385,407
2$12,959,286$4,753,123$453,575$7,752,587
3$13,607,250$4,992,870$476,254$8,138,126
4$14,287,613$5,244,604$500,066$8,542,942
5$15,001,993$5,508,925$525,070$8,967,998
6$15,752,093$5,786,462$551,323$9,414,307
7$16,539,698$6,077,876$578,889$9,882,932
8$17,366,682$6,383,860$607,834$10,374,988
9$18,235,017$6,705,144$638,226$10,891,647
10$19,146,767$7,042,492$670,137$11,434,139
11$20,104,106$7,396,707$703,644$12,003,755
12$21,109,311$7,768,633$738,826$12,601,852
13$22,164,776$8,159,155$775,767$13,229,854
14$23,273,015$8,569,203$814,556$13,889,256
15$24,436,666$8,999,754$855,283$14,581,628
16$25,658,499$9,451,833$898,047$15,308,619
17$26,941,424$9,926,515$942,950$16,071,959
18$28,288,495$10,424,931$990,097$16,873,467
19$29,702,920$10,948,268$1,039,602$17,715,050
20$31,188,066$11,497,772$1,091,582$18,598,712
21$32,747,469$12,074,751$1,146,161$19,526,556
22$34,384,843$12,680,580$1,203,469$20,500,794
23$36,104,085$13,316,699$1,263,643$21,523,743
24$37,909,289$13,984,625$1,326,825$22,597,839
25$39,804,753$14,685,946$1,393,166$23,725,640
26$41,794,992$15,422,335$1,462,825$24,909,832
27$43,884,741$16,195,542$1,535,966$26,153,233
28$46,078,978$17,007,409$1,612,764$27,458,804
29$48,382,927$17,859,871$1,693,402$28,829,654
30$50,802,073$18,754,955$1,778,073$30,269,046
Total$820,000,002$302,145,633$28,699,998$489,154,366

◄ Back to Jackpot Analysis

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.