USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Sep 22, 2001

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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 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 $42,900,000 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:Sat, Sep 22, 2001
Jackpot:$42,900,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$764,911$241,205$26,772$496,934
2$795,508$252,526$27,843$515,139
3$827,328$264,299$28,956$534,072
4$860,421$276,544$30,115$553,763
5$894,838$289,278$31,319$574,241
6$930,631$302,521$32,572$595,538
7$967,857$316,295$33,875$617,687
8$1,006,571$330,619$35,230$640,722
9$1,046,834$345,516$36,639$664,678
10$1,088,707$361,009$38,105$689,593
11$1,132,256$377,122$39,629$715,504
12$1,177,546$393,880$41,214$742,452
13$1,224,648$411,307$42,863$770,478
14$1,273,633$429,432$44,577$799,624
15$1,324,579$448,282$46,360$829,937
16$1,377,562$467,886$48,215$861,462
17$1,432,664$488,274$50,143$894,248
18$1,489,971$509,477$52,149$928,345
19$1,549,570$531,529$54,235$963,806
20$1,611,553$554,462$56,404$1,000,686
21$1,676,015$578,313$58,661$1,039,041
22$1,743,055$603,118$61,007$1,078,930
23$1,812,778$628,915$63,447$1,120,415
24$1,885,289$655,745$65,985$1,163,559
25$1,960,700$683,647$68,625$1,208,429
26$2,039,128$712,665$71,369$1,255,094
27$2,120,693$742,844$74,224$1,303,625
28$2,205,521$774,231$77,193$1,354,097
29$2,293,742$806,872$80,281$1,406,589
30$2,385,492$840,820$83,492$1,461,180
Total$42,900,000$14,618,633$1,501,499$26,779,868

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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.