USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Nov 16, 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 $76,000,000 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, Nov 16, 2022
Jackpot:$76,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,143,909$381,434$40,037$722,438
2$1,201,105$402,596$42,039$756,469
3$1,261,160$424,817$44,141$792,202
4$1,324,218$448,148$46,348$829,722
5$1,390,429$472,646$48,665$869,117
6$1,459,950$498,369$51,098$910,483
7$1,532,948$525,378$53,653$953,916
8$1,609,595$553,738$56,336$999,521
9$1,690,075$583,515$59,153$1,047,407
10$1,774,578$614,782$62,110$1,097,686
11$1,863,307$647,611$65,216$1,150,480
12$1,956,473$682,083$68,477$1,205,914
13$2,054,296$718,277$71,900$1,264,119
14$2,157,011$756,282$75,495$1,325,234
15$2,264,862$796,187$79,270$1,389,405
16$2,378,105$838,087$83,234$1,456,785
17$2,497,010$882,081$87,395$1,527,533
18$2,621,861$928,276$91,765$1,601,819
19$2,752,954$976,781$96,353$1,679,820
20$2,890,601$1,027,710$101,171$1,761,720
21$3,035,131$1,081,186$106,230$1,847,715
22$3,186,888$1,137,336$111,541$1,938,011
23$3,346,232$1,196,294$117,118$2,032,820
24$3,513,544$1,258,199$122,974$2,132,371
25$3,689,221$1,323,200$129,123$2,236,899
26$3,873,682$1,391,450$135,579$2,346,653
27$4,067,366$1,463,113$142,358$2,461,895
28$4,270,735$1,538,360$149,476$2,582,899
29$4,484,271$1,617,368$156,949$2,709,954
30$4,708,485$1,700,327$164,797$2,843,361
Total$76,000,000$26,865,631$2,660,001$46,474,368

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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.