USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Oct 5, 2011

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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 $60,200,000 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, Oct 5, 2011
Jackpot:$60,200,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,073,372$355,335$37,568$680,469
2$1,116,307$371,221$39,071$706,015
3$1,160,959$387,743$40,634$732,583
4$1,207,397$404,925$42,259$760,214
5$1,255,693$422,794$43,949$788,950
6$1,305,921$441,379$45,707$818,835
7$1,358,158$460,706$47,536$849,916
8$1,412,484$480,807$49,437$882,240
9$1,468,984$501,712$51,414$915,858
10$1,527,743$523,453$53,471$950,819
11$1,588,853$546,063$55,610$987,180
12$1,652,407$569,578$57,834$1,024,994
13$1,718,503$594,034$60,148$1,064,322
14$1,787,243$619,468$62,554$1,105,222
15$1,858,733$645,919$65,056$1,147,758
16$1,933,082$673,428$67,658$1,191,996
17$2,010,406$702,038$70,364$1,238,004
18$2,090,822$731,792$73,179$1,285,851
19$2,174,455$762,736$76,106$1,335,613
20$2,261,433$794,918$79,150$1,387,365
21$2,351,890$828,387$82,316$1,441,187
22$2,445,966$863,195$85,609$1,497,162
23$2,543,804$899,395$89,033$1,555,376
24$2,645,557$937,044$92,594$1,615,918
25$2,751,379$976,198$96,298$1,678,883
26$2,861,434$1,016,918$100,150$1,744,365
27$2,975,891$1,059,268$104,156$1,812,468
28$3,094,927$1,103,311$108,322$1,883,294
29$3,218,724$1,149,116$112,655$1,956,953
30$3,347,473$1,196,753$117,162$2,033,559
Total$60,200,000$21,019,634$2,107,000$37,073,369

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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.