USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Oct 15, 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 $464,800,000 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:Sat, Oct 15, 2022
Jackpot:$464,800,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,995,907$2,546,673$244,857$4,204,377
2$7,345,702$2,676,098$257,100$4,412,505
3$7,712,987$2,811,993$269,955$4,631,040
4$8,098,637$2,954,683$283,452$4,860,501
5$8,503,569$3,104,508$297,625$5,101,436
6$8,928,747$3,261,824$312,506$5,354,417
7$9,375,185$3,427,006$328,131$5,620,047
8$9,843,944$3,600,447$344,538$5,898,959
9$10,336,141$3,782,560$361,765$6,191,816
10$10,852,948$3,973,779$379,853$6,499,316
11$11,395,595$4,174,558$398,846$6,822,192
12$11,965,375$4,385,377$418,788$7,161,211
13$12,563,644$4,606,736$439,728$7,517,180
14$13,191,826$4,839,163$461,714$7,890,949
15$13,851,417$5,083,212$484,800$8,283,406
16$14,543,988$5,339,463$509,040$8,695,485
17$15,271,188$5,608,527$534,492$9,128,169
18$16,034,747$5,891,044$561,216$9,582,487
19$16,836,484$6,187,687$589,277$10,059,520
20$17,678,309$6,499,162$618,741$10,560,406
21$18,562,224$6,826,211$649,678$11,086,336
22$19,490,335$7,169,612$682,162$11,638,562
23$20,464,852$7,530,183$716,270$12,218,399
24$21,488,094$7,908,783$752,083$12,827,228
25$22,562,499$8,306,312$789,687$13,466,499
26$23,690,625$8,723,719$829,172$14,137,734
27$24,875,156$9,161,995$870,630$14,842,530
28$26,118,913$9,622,186$914,162$15,582,566
29$27,424,859$10,105,386$959,870$16,359,603
30$28,796,102$10,612,746$1,007,864$17,175,493
Total$464,800,001$170,721,633$16,268,002$277,810,369

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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.