USA Mega

Ohio Mega Millions Jackpot Annuity Payout Schedule for Sep 20, 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 $47,000,000 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, Sep 20, 2024
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$219,932$24,760$462,726
2$742,788$233,019$25,998$483,771
3$779,928$246,761$27,297$505,869
4$818,924$261,190$28,662$529,072
5$859,870$276,340$30,095$553,435
6$902,864$292,247$31,600$579,016
7$948,007$308,950$33,180$605,876
8$995,407$326,488$34,839$634,080
9$1,045,178$344,904$36,581$663,693
10$1,097,437$364,239$38,410$694,787
11$1,152,308$384,542$40,331$727,436
12$1,209,924$405,860$42,347$761,717
13$1,270,420$428,243$44,465$797,712
14$1,333,941$451,746$46,688$835,507
15$1,400,638$476,424$49,022$875,192
16$1,470,670$502,336$51,473$916,861
17$1,544,204$529,543$54,047$960,613
18$1,621,414$558,111$56,749$1,006,553
19$1,702,484$588,107$59,587$1,054,790
20$1,787,609$619,603$62,566$1,105,439
21$1,876,989$652,674$65,695$1,158,621
22$1,970,839$687,398$68,979$1,214,461
23$2,069,380$723,859$72,428$1,273,094
24$2,172,849$762,142$76,050$1,334,658
25$2,281,492$802,340$79,852$1,399,300
26$2,395,567$844,547$83,845$1,467,174
27$2,515,345$888,865$88,037$1,538,442
28$2,641,112$935,399$92,439$1,613,274
29$2,773,168$984,260$97,061$1,691,847
30$2,911,826$1,035,563$101,914$1,774,349
Total$47,000,000$16,135,632$1,644,997$29,219,365

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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.