USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Nov 23, 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 $32,200,000 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, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 3.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$19,338$321,936
2$508,889$151,864$20,305$336,720
3$534,333$160,770$21,320$352,244
4$561,050$170,544$22,386$368,121
5$589,103$180,923$23,505$384,674
6$618,558$191,821$24,680$402,056
7$649,486$203,265$25,914$420,307
8$681,960$215,280$27,210$439,470
9$716,058$227,896$28,571$459,591
10$751,861$241,144$29,999$480,718
11$789,454$255,053$31,499$502,902
12$828,927$269,658$33,074$526,195
13$870,373$284,993$34,728$550,652
14$913,892$301,095$36,464$576,332
15$959,586$318,002$38,287$603,297
16$1,007,565$335,754$40,202$631,609
17$1,057,944$354,394$42,212$661,338
18$1,110,841$373,966$44,323$692,552
19$1,166,383$394,517$46,539$725,328
20$1,224,702$416,095$48,866$759,742
21$1,285,937$438,752$51,309$795,877
22$1,350,234$462,542$53,874$833,818
23$1,417,746$487,521$56,568$873,657
24$1,488,633$513,749$59,396$915,487
25$1,563,065$541,289$62,366$959,409
26$1,641,218$570,206$65,485$1,005,528
27$1,723,279$600,568$68,759$1,053,952
28$1,809,443$632,449$72,197$1,104,797
29$1,899,915$665,924$75,807$1,158,185
30$1,994,911$701,072$79,597$1,214,242
Total$32,200,000$10,804,489$1,284,780$20,110,736

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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.