USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Nov 21, 2022

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The tax information provided here is based on 2025 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 $20,000,000 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:Mon, Nov 21, 2022
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$74,907$10,536$215,585
2$316,080$80,175$11,063$224,842
3$331,884$85,707$11,616$234,561
4$348,478$91,515$12,197$244,767
5$365,902$97,613$12,807$255,483
6$384,197$104,016$13,447$266,734
7$403,407$110,740$14,119$278,548
8$423,578$117,799$14,825$290,953
9$444,757$125,212$15,566$303,978
10$466,994$132,995$16,345$317,654
11$490,344$141,168$17,162$332,014
12$514,861$149,749$18,020$347,092
13$540,604$158,759$18,921$362,924
14$567,635$168,219$19,867$379,548
15$596,016$178,153$20,861$397,003
16$625,817$188,583$21,904$415,330
17$657,108$200,150$22,999$433,959
18$689,963$212,307$24,149$453,508
19$724,461$225,071$25,356$474,034
20$760,685$238,474$26,624$495,587
21$798,719$252,546$27,955$518,217
22$838,655$267,322$29,353$541,979
23$880,587$282,838$30,821$566,929
24$924,617$299,128$32,362$593,127
25$970,848$316,234$33,980$620,634
26$1,019,390$334,195$35,679$649,517
27$1,070,360$353,053$37,463$679,844
28$1,123,878$372,855$39,336$711,687
29$1,180,071$393,647$41,302$745,122
30$1,239,075$415,478$43,368$780,229
Total$20,000,000$6,168,608$700,003$13,131,389

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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.