USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Sep 28, 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 $37,100,000 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, Sep 28, 2011
Jackpot:$37,100,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$661,497$202,942$23,152$435,403
2$687,957$212,732$24,078$451,146
3$715,475$222,913$25,042$467,520
4$744,094$233,502$26,043$484,548
5$773,858$244,515$27,085$502,257
6$804,812$255,968$28,168$520,675
7$837,004$267,879$29,295$539,830
8$870,485$280,267$30,467$559,751
9$905,304$293,150$31,686$580,468
10$941,516$306,549$32,953$602,014
11$979,177$320,483$34,271$624,422
12$1,018,344$334,975$35,642$647,727
13$1,059,077$350,046$37,068$671,963
14$1,101,441$365,721$38,550$697,169
15$1,145,498$382,022$40,092$723,384
16$1,191,318$398,975$41,696$750,647
17$1,238,971$416,607$43,364$779,000
18$1,288,530$434,944$45,099$808,487
19$1,340,071$454,014$46,902$839,154
20$1,393,674$473,847$48,779$871,048
21$1,449,421$494,473$50,730$904,218
22$1,507,398$515,925$52,759$938,714
23$1,567,693$538,234$54,869$974,590
24$1,630,401$561,436$57,064$1,011,901
25$1,695,617$585,566$59,347$1,050,704
26$1,763,442$610,661$61,720$1,091,060
27$1,833,980$636,760$64,189$1,133,030
28$1,907,339$663,903$66,757$1,176,679
29$1,983,632$692,132$69,427$1,222,073
30$2,062,978$721,489$72,204$1,269,284
Total$37,100,000$12,472,630$1,298,498$23,328,866

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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.