USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Feb 6, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2022 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 Powerball 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 $747,000,000 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 prize money, as well as deductions claimed.

State:

Ohio

Drawing Date:Mon, Feb 6, 2023
Jackpot:$747,000,000
Federal Tax:37% marginal rate
State Tax: 3.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$11,243,422$4,123,021$448,613$6,671,788
2$11,805,593$4,331,024$471,043$7,003,526
3$12,395,873$4,549,428$494,595$7,351,849
4$13,015,667$4,778,752$519,325$7,717,590
5$13,666,449$5,019,541$545,291$8,101,617
6$14,349,772$5,272,371$572,556$8,504,846
7$15,067,261$5,537,842$601,184$8,928,236
8$15,820,624$5,816,586$631,243$9,372,795
9$16,611,655$6,109,267$662,805$9,839,583
10$17,442,238$6,416,583$695,945$10,329,710
11$18,314,350$6,739,264$730,743$10,844,343
12$19,230,067$7,078,080$767,280$11,384,708
13$20,191,571$7,433,836$805,644$11,952,091
14$21,201,149$7,807,380$845,926$12,547,843
15$22,261,207$8,199,601$888,222$13,173,383
16$23,374,267$8,611,434$932,633$13,830,200
17$24,542,980$9,043,858$979,265$14,519,858
18$25,770,129$9,497,903$1,028,228$15,243,998
19$27,058,636$9,974,650$1,079,640$16,004,346
20$28,411,568$10,475,235$1,133,622$16,802,711
21$29,832,146$11,000,849$1,190,303$17,640,994
22$31,323,753$11,552,744$1,249,818$18,521,192
23$32,889,941$12,132,233$1,312,309$19,445,399
24$34,534,437$12,740,697$1,377,924$20,415,817
25$36,261,159$13,379,584$1,446,820$21,434,755
26$38,074,218$14,050,416$1,519,161$22,504,641
27$39,977,929$14,754,789$1,595,119$23,628,021
28$41,976,825$15,494,380$1,674,875$24,807,569
29$44,075,666$16,270,951$1,758,619$26,046,096
30$46,279,450$17,086,351$1,846,550$27,346,548
Total$747,000,001$275,278,650$29,805,301$441,916,053

◄ Back to Jackpot Analysis

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.