USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Jul 6, 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 $20,900,000 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, Jul 6, 2002
Jackpot:$20,900,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$372,649$100,802$13,043$258,804
2$387,555$106,019$13,564$267,972
3$403,057$111,445$14,107$277,505
4$419,180$117,088$14,671$287,421
5$435,947$122,956$15,258$297,732
6$453,385$129,059$15,868$308,457
7$471,520$135,407$16,503$319,610
8$490,381$142,008$17,163$331,209
9$509,996$148,873$17,850$343,273
10$530,396$156,013$18,564$355,819
11$551,612$163,439$19,306$368,866
12$573,676$171,161$20,079$382,436
13$596,623$179,193$20,882$396,548
14$620,488$187,768$21,717$411,003
15$645,308$196,952$22,586$425,770
16$671,120$206,502$23,489$441,129
17$697,965$216,435$24,429$457,101
18$725,883$226,765$25,406$473,713
19$754,919$237,508$26,422$490,989
20$785,115$248,680$27,479$508,956
21$816,520$260,300$28,578$527,642
22$849,181$272,385$29,721$547,075
23$883,148$284,953$30,910$567,285
24$918,474$298,023$32,147$588,304
25$955,213$311,617$33,432$610,164
26$993,421$325,754$34,770$632,898
27$1,033,158$340,456$36,161$656,541
28$1,074,485$355,747$37,607$681,131
29$1,117,464$371,649$39,111$706,703
30$1,162,163$388,188$40,676$733,299
Total$20,900,000$6,513,145$731,499$13,655,355

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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.