USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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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 $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 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: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,481,157$333,254$5,707,127
2$9,997,615$3,657,305$349,917$5,990,393
3$10,497,495$3,842,261$367,412$6,287,822
4$11,022,371$4,036,465$385,783$6,600,123
5$11,573,488$4,240,378$405,072$6,928,038
6$12,152,163$4,454,488$425,326$7,272,349
7$12,759,772$4,679,303$446,592$7,633,876
8$13,397,760$4,915,359$468,922$8,013,480
9$14,067,648$5,163,218$492,368$8,412,063
10$14,771,030$5,423,469$516,986$8,830,575
11$15,509,582$5,696,733$542,835$9,270,014
12$16,285,061$5,983,660$569,977$9,731,424
13$17,099,314$6,284,934$598,476$10,215,904
14$17,954,280$6,601,271$628,400$10,724,609
15$18,851,994$6,933,425$659,820$11,258,748
16$19,794,594$7,282,187$692,811$11,819,595
17$20,784,323$7,648,387$727,451$12,408,484
18$21,823,539$8,032,897$763,824$13,026,818
19$22,914,716$8,436,633$802,015$13,676,068
20$24,060,452$8,860,555$842,116$14,357,781
21$25,263,474$9,305,673$884,222$15,073,580
22$26,526,648$9,773,048$928,433$15,825,168
23$27,852,981$10,263,791$974,854$16,614,336
24$29,245,629$10,779,071$1,023,597$17,442,962
25$30,707,911$11,320,115$1,074,777$18,313,019
26$32,243,307$11,888,211$1,128,516$19,226,580
27$33,855,472$12,484,712$1,184,942$20,185,818
28$35,548,245$13,111,039$1,244,189$21,193,018
29$37,325,658$13,768,681$1,306,398$22,250,579
30$39,191,941$14,459,206$1,371,718$23,361,017
Total$632,600,001$232,807,632$22,141,003$377,651,368

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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.