USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Feb 6, 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 $365,000,000 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, Feb 6, 2024
Jackpot:$365,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,493,774$1,989,717$192,282$3,311,775
2$5,768,463$2,091,351$201,896$3,475,215
3$6,056,886$2,198,068$211,991$3,646,827
4$6,359,730$2,310,120$222,591$3,827,019
5$6,677,716$2,427,775$233,720$4,016,221
6$7,011,602$2,551,313$245,406$4,214,883
7$7,362,182$2,681,028$257,676$4,423,478
8$7,730,292$2,817,228$270,560$4,642,503
9$8,116,806$2,960,239$284,088$4,872,479
10$8,522,646$3,110,399$298,293$5,113,954
11$8,948,779$3,268,068$313,207$5,367,503
12$9,396,218$3,433,621$328,868$5,633,729
13$9,866,028$3,607,451$345,311$5,913,267
14$10,359,330$3,789,972$362,577$6,206,781
15$10,877,296$3,981,620$380,705$6,514,971
16$11,421,161$4,182,850$399,741$6,838,571
17$11,992,219$4,394,141$419,728$7,178,350
18$12,591,830$4,615,997$440,714$7,535,119
19$13,221,422$4,848,946$462,750$7,909,726
20$13,882,493$5,093,543$485,887$8,303,063
21$14,576,617$5,350,369$510,182$8,716,067
22$15,305,448$5,620,036$535,691$9,149,721
23$16,070,721$5,903,187$562,475$9,605,059
24$16,874,257$6,200,495$590,599$10,083,162
25$17,717,969$6,512,669$620,129$10,585,172
26$18,603,868$6,840,451$651,135$11,112,281
27$19,534,062$7,184,623$683,692$11,665,746
28$20,510,764$7,546,003$717,877$12,246,885
29$21,536,303$7,925,452$753,771$12,857,080
30$22,613,118$8,323,874$791,459$13,497,785
Total$365,000,001$133,760,606$12,775,001$218,464,392

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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.