USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Mar 2, 2005

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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 $12,300,000 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:Wed, Mar 2, 2005
Jackpot:$12,300,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$219,310$47,866$7,676$163,769
2$228,083$50,673$7,983$169,427
3$237,206$53,592$8,302$175,311
4$246,694$56,718$8,634$181,342
5$256,562$60,171$8,980$187,411
6$266,824$63,763$9,339$193,722
7$277,497$67,499$9,712$200,286
8$288,597$71,384$10,101$207,113
9$300,141$75,424$10,505$214,212
10$312,147$79,626$10,925$221,596
11$324,633$83,996$11,362$229,274
12$337,618$88,541$11,817$237,260
13$351,123$93,268$12,289$245,566
14$365,168$98,183$12,781$254,203
15$379,774$103,296$13,292$263,186
16$394,965$108,613$13,824$272,529
17$410,764$114,142$14,377$282,245
18$427,194$119,893$14,952$292,350
19$444,282$125,874$15,550$302,859
20$462,054$132,093$16,172$313,788
21$480,536$138,562$16,819$325,155
22$499,757$145,290$17,491$336,976
23$519,747$152,286$18,191$349,270
24$540,537$159,563$18,919$362,056
25$562,159$167,130$19,676$375,353
26$584,645$175,001$20,463$389,182
27$608,031$183,186$21,281$403,564
28$632,352$192,158$22,132$418,062
29$657,646$201,517$23,018$433,112
30$683,952$211,250$23,938$448,764
Total$12,300,000$3,420,558$430,501$8,448,943

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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.