USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Jul 11, 2020

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The tax information provided here is based on 2021 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 $78,300,000 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 prize money, as well as deductions claimed.

State:

Ohio

Drawing Date:Sat, Jul 11, 2020
Jackpot:$78,300,000
Federal Tax:37% marginal rate
State Tax: 4.797%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,178,527$400,127$56,534$721,866
2$1,237,454$421,930$59,361$756,163
3$1,299,326$444,823$62,329$792,175
4$1,364,293$468,861$65,445$829,987
5$1,432,507$494,100$68,717$869,690
6$1,504,133$520,601$72,153$911,378
7$1,579,339$548,428$75,761$955,151
8$1,658,306$577,646$79,549$1,001,112
9$1,741,222$608,324$83,526$1,049,371
10$1,828,283$640,537$87,703$1,100,043
11$1,919,697$674,360$92,088$1,153,249
12$2,015,682$709,874$96,692$1,209,115
13$2,116,466$747,165$101,527$1,267,774
14$2,222,289$786,319$106,603$1,329,367
15$2,333,404$827,432$111,933$1,394,039
16$2,450,074$870,600$117,530$1,461,944
17$2,572,577$915,926$123,407$1,533,245
18$2,701,206$963,519$129,577$1,608,111
19$2,836,267$1,013,491$136,056$1,686,720
20$2,978,080$1,065,962$142,858$1,769,260
21$3,126,984$1,121,056$150,001$1,855,926
22$3,283,333$1,178,906$157,501$1,946,926
23$3,447,500$1,239,647$165,377$2,042,476
24$3,619,875$1,303,426$173,645$2,142,803
25$3,800,869$1,370,394$182,328$2,248,147
26$3,990,912$1,440,710$191,444$2,358,758
27$4,190,458$1,514,542$201,016$2,474,900
28$4,399,980$1,592,065$211,067$2,596,848
29$4,619,979$1,673,465$221,620$2,724,894
30$4,850,978$1,758,934$232,701$2,859,343
Total$78,300,000$27,893,170$3,756,049$46,650,781

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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.