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Ohio Mega Millions Jackpot Annuity Payout Schedule for Oct 1, 2024

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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 $93,000,000 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, Oct 1, 2024
Jackpot:$93,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,399,783$476,108$48,992$874,683
2$1,469,773$502,004$51,442$916,327
3$1,543,261$529,194$54,014$960,053
4$1,620,424$557,745$56,715$1,005,965
5$1,701,446$587,723$59,551$1,054,172
6$1,786,518$619,199$62,528$1,104,790
7$1,875,844$652,250$65,655$1,157,939
8$1,969,636$686,953$68,937$1,213,746
9$2,068,118$723,391$72,384$1,272,342
10$2,171,524$761,651$76,003$1,333,869
11$2,280,100$801,825$79,803$1,398,472
12$2,394,105$844,007$83,794$1,466,305
13$2,513,810$888,297$87,983$1,537,529
14$2,639,501$934,803$92,383$1,612,315
15$2,771,476$983,634$97,002$1,690,840
16$2,910,049$1,034,906$101,852$1,773,292
17$3,055,552$1,088,742$106,944$1,859,866
18$3,208,329$1,145,270$112,292$1,950,768
19$3,368,746$1,204,624$117,906$2,046,216
20$3,537,183$1,266,946$123,801$2,146,436
21$3,714,042$1,332,383$129,991$2,251,667
22$3,899,744$1,401,093$136,491$2,362,160
23$4,094,732$1,473,238$143,316$2,478,178
24$4,299,468$1,548,991$150,481$2,599,996
25$4,514,442$1,628,531$158,005$2,727,905
26$4,740,164$1,712,048$165,906$2,862,210
27$4,977,172$1,799,741$174,201$3,003,230
28$5,226,030$1,891,819$182,911$3,151,300
29$5,487,332$1,988,501$192,057$3,306,775
30$5,761,699$2,090,016$201,659$3,470,023
Total$93,000,000$33,155,633$3,254,999$56,589,369

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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.