USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Feb 23, 2024

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The tax information provided here is based on 2025 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 $525,000,000 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, Feb 23, 2024
Jackpot:$525,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,902,003$2,880,761$276,570$4,744,672
2$8,297,104$3,026,949$290,399$4,979,756
3$8,711,959$3,180,445$304,919$5,226,595
4$9,147,557$3,341,616$320,164$5,485,776
5$9,604,934$3,510,846$336,173$5,757,916
6$10,085,181$3,688,537$352,981$6,043,663
7$10,589,441$3,875,113$370,630$6,343,697
8$11,118,913$4,071,018$389,162$6,658,733
9$11,674,858$4,276,718$408,620$6,989,520
10$12,258,601$4,492,703$429,051$7,336,847
11$12,871,531$4,719,487$450,504$7,701,541
12$13,515,108$4,957,610$473,029$8,084,469
13$14,190,863$5,207,640$496,680$8,486,543
14$14,900,406$5,470,171$521,514$8,908,721
15$15,645,426$5,745,828$547,590$9,352,008
16$16,427,698$6,035,268$574,969$9,817,460
17$17,249,082$6,339,181$603,718$10,306,184
18$18,111,537$6,658,289$633,904$10,819,344
19$19,017,113$6,993,352$665,599$11,358,162
20$19,967,969$7,345,169$698,879$11,923,921
21$20,966,367$7,714,576$733,823$12,517,968
22$22,014,686$8,102,454$770,514$13,141,718
23$23,115,420$8,509,726$809,040$13,796,655
24$24,271,191$8,937,361$849,492$14,484,338
25$25,484,751$9,386,378$891,966$15,206,406
26$26,758,989$9,857,846$936,565$15,964,578
27$28,096,938$10,352,887$983,393$16,760,658
28$29,501,784$10,872,680$1,032,562$17,596,541
29$30,976,874$11,418,464$1,084,191$18,474,220
30$32,525,718$11,991,536$1,138,400$19,395,782
Total$525,000,001$192,960,609$18,375,001$313,664,392

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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.