USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Jul 27, 2002

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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 $12,000,000 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:Sat, Jul 27, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$7,489$160,318
2$222,520$48,893$7,788$165,839
3$231,420$51,741$8,100$171,580
4$240,677$54,703$8,424$177,550
5$250,304$57,981$8,761$183,562
6$260,317$61,486$9,111$189,720
7$270,729$65,130$9,476$196,124
8$281,558$68,920$9,855$202,784
9$292,821$72,862$10,249$209,710
10$304,533$76,961$10,659$216,913
11$316,715$81,225$11,085$224,405
12$329,383$85,659$11,528$232,196
13$342,559$90,270$11,990$240,299
14$356,261$95,066$12,469$248,726
15$370,512$100,054$12,968$257,490
16$385,332$105,241$13,487$266,604
17$400,745$110,636$14,026$276,084
18$416,775$116,246$14,587$285,942
19$433,446$122,081$15,171$296,195
20$450,784$128,149$15,777$306,857
21$468,815$134,460$16,409$317,947
22$487,568$141,024$17,065$329,480
23$507,071$147,849$17,747$341,474
24$527,353$154,948$18,457$353,948
25$548,448$162,331$19,196$366,921
26$570,386$170,010$19,963$380,412
27$593,201$177,995$20,762$394,444
28$616,929$186,451$21,593$408,885
29$641,606$195,582$22,456$423,568
30$667,270$205,078$23,354$438,838
Total$12,000,000$3,315,186$420,002$8,264,815

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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.