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Powerball Annuity Jackpot Analysis for Ohio

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $154,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Ohio

Drawing Date:  Wed, Aug 31, 2016
Jackpot:$154,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,317,921$579,480$92,717$1,645,724
2$2,433,817$608,454$97,353$1,728,010
3$2,555,508$638,877$102,220$1,814,411
4$2,683,283$670,821$107,331$1,905,131
5$2,817,447$704,362$112,698$2,000,388
6$2,958,320$739,580$118,333$2,100,407
7$3,106,236$776,559$124,249$2,205,427
8$3,261,548$815,387$130,462$2,315,699
9$3,424,625$856,156$136,985$2,431,484
10$3,595,856$898,964$143,834$2,553,058
11$3,775,649$943,912$151,026$2,680,711
12$3,964,432$991,108$158,577$2,814,746
13$4,162,653$1,040,663$166,506$2,955,484
14$4,370,786$1,092,696$174,831$3,103,258
15$4,589,325$1,147,331$183,573$3,258,421
16$4,818,791$1,204,698$192,752$3,421,342
17$5,059,731$1,264,933$202,389$3,592,409
18$5,312,717$1,328,179$212,509$3,772,029
19$5,578,353$1,394,588$223,134$3,960,631
20$5,857,271$1,464,318$234,291$4,158,662
21$6,150,134$1,537,534$246,005$4,366,595
22$6,457,641$1,614,410$258,306$4,584,925
23$6,780,523$1,695,131$271,221$4,814,172
24$7,119,549$1,779,887$284,782$5,054,880
25$7,475,527$1,868,882$299,021$5,307,624
26$7,849,303$1,962,326$313,972$5,573,005
27$8,241,768$2,060,442$329,671$5,851,656
28$8,653,857$2,163,464$346,154$6,144,238
29$9,086,550$2,271,637$363,462$6,451,450
30$9,540,877$2,385,219$381,635$6,774,023
Total$154,000,000$38,500,000$6,160,000$109,340,000
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