USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Aug 4, 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 $1,350,000,000 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, Aug 4, 2023
Jackpot:$1,350,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,319,437$7,476,380$711,180$12,131,877
2$21,335,409$7,852,289$746,739$12,736,381
3$22,402,179$8,246,994$784,076$13,371,109
4$23,522,289$8,661,435$823,280$14,037,574
5$24,698,403$9,096,597$864,444$14,737,362
6$25,933,323$9,553,517$907,666$15,472,140
7$27,229,990$10,033,284$953,050$16,243,656
8$28,591,489$10,537,039$1,000,702$17,053,748
9$30,021,064$11,065,981$1,050,737$17,904,345
10$31,522,117$11,621,371$1,103,274$18,797,472
11$33,098,223$12,204,530$1,158,438$19,735,255
12$34,753,134$12,816,847$1,216,360$20,719,927
13$36,490,790$13,459,780$1,277,178$21,753,832
14$38,315,330$14,134,860$1,341,037$22,839,434
15$40,231,096$14,843,693$1,408,088$23,979,314
16$42,242,652$15,587,969$1,478,493$25,176,190
17$44,354,783$16,369,458$1,552,417$26,432,908
18$46,572,523$17,190,021$1,630,038$27,752,463
19$48,901,149$18,051,613$1,711,540$29,137,996
20$51,346,206$18,956,284$1,797,117$30,592,805
21$53,913,516$19,906,189$1,886,973$32,120,354
22$56,609,192$20,903,589$1,981,322$33,724,282
23$59,439,652$21,950,859$2,080,388$35,408,405
24$62,411,634$23,050,492$2,184,407$37,176,734
25$65,532,216$24,205,108$2,293,628$39,033,481
26$68,808,828$25,417,454$2,408,309$40,983,065
27$72,249,269$26,690,417$2,528,724$43,030,127
28$75,861,731$28,027,028$2,655,161$45,179,542
29$79,654,818$29,430,470$2,787,919$47,436,429
30$83,637,560$30,904,085$2,927,315$49,806,160
Total$1,350,000,003$498,245,633$47,250,000$804,504,367

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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.