USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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The tax information provided here is based on 2022 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 $632,600,000 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:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 4.797%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$456,748$5,578,866
2$9,997,615$3,662,072$479,586$5,855,957
3$10,497,495$3,847,028$503,565$6,146,902
4$11,022,371$4,041,232$528,743$6,452,395
5$11,573,488$4,245,146$555,180$6,773,163
6$12,152,163$4,459,255$582,939$7,109,969
7$12,759,772$4,684,071$612,086$7,463,615
8$13,397,760$4,920,126$642,691$7,834,943
9$14,067,648$5,167,985$674,825$8,224,838
10$14,771,030$5,428,236$708,566$8,634,228
11$15,509,582$5,701,500$743,995$9,064,087
12$16,285,061$5,988,428$781,194$9,515,439
13$17,099,314$6,289,701$820,254$9,989,359
14$17,954,280$6,606,039$861,267$10,486,975
15$18,851,994$6,938,193$904,330$11,009,471
16$19,794,594$7,286,955$949,547$11,558,092
17$20,784,323$7,653,154$997,024$12,134,144
18$21,823,539$8,037,664$1,046,875$12,739,000
19$22,914,716$8,441,400$1,099,219$13,374,097
20$24,060,452$8,865,322$1,154,180$14,040,950
21$25,263,474$9,310,441$1,211,889$14,741,145
22$26,526,648$9,777,815$1,272,483$15,476,350
23$27,852,981$10,268,558$1,336,107$16,248,315
24$29,245,629$10,783,838$1,402,913$17,058,879
25$30,707,911$11,324,882$1,473,058$17,909,970
26$32,243,307$11,892,979$1,546,711$18,803,617
27$33,855,472$12,489,480$1,624,047$19,741,946
28$35,548,245$13,115,806$1,705,249$20,727,190
29$37,325,658$13,773,448$1,790,512$21,761,698
30$39,191,941$14,463,973$1,880,037$22,847,930
Total$632,600,001$232,950,651$30,345,820$369,303,530

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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.