USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Aug 31, 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 $76,500,000 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, Aug 31, 2011
Jackpot:$76,500,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,364,003$462,869$47,740$853,394
2$1,418,563$483,056$49,650$885,857
3$1,475,305$504,051$51,636$919,619
4$1,534,317$525,885$53,701$954,731
5$1,595,690$548,593$55,849$991,248
6$1,659,518$572,209$58,083$1,029,225
7$1,725,898$596,770$60,406$1,068,722
8$1,794,934$622,313$62,823$1,109,798
9$1,866,732$648,878$65,336$1,152,518
10$1,941,401$676,506$67,949$1,196,946
11$2,019,057$705,239$70,667$1,243,151
12$2,099,819$735,121$73,494$1,291,205
13$2,183,812$766,198$76,433$1,341,180
14$2,271,165$798,519$79,491$1,393,155
15$2,362,011$832,132$82,670$1,447,209
16$2,456,492$867,090$85,977$1,503,425
17$2,554,751$903,446$89,416$1,561,889
18$2,656,941$941,256$92,993$1,622,692
19$2,763,219$980,579$96,713$1,685,928
20$2,873,748$1,021,474$100,581$1,751,692
21$2,988,698$1,064,006$104,604$1,820,087
22$3,108,246$1,108,239$108,789$1,891,218
23$3,232,575$1,154,241$113,140$1,965,195
24$3,361,878$1,202,083$117,666$2,042,130
25$3,496,354$1,251,839$122,372$2,122,143
26$3,636,208$1,303,585$127,267$2,205,356
27$3,781,656$1,357,400$132,358$2,291,898
28$3,932,922$1,413,369$137,652$2,381,901
29$4,090,239$1,471,576$143,158$2,475,504
30$4,253,849$1,532,112$148,885$2,572,852
Total$76,500,000$27,050,634$2,677,499$46,771,868

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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.