USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Nov 28, 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 $54,800,000 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 prize money, as well as deductions claimed.

State:

Ohio

Drawing Date:Mon, Nov 28, 2022
Jackpot:$54,800,000
Federal Tax:37% marginal rate
State Tax: 3.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$824,819$268,138$32,910$523,770
2$866,060$283,397$34,556$548,107
3$909,363$299,419$36,284$573,660
4$954,831$316,242$38,098$600,491
5$1,002,572$333,907$40,003$628,663
6$1,052,701$352,454$42,003$658,244
7$1,105,336$371,929$44,103$689,304
8$1,160,603$392,378$46,308$721,917
9$1,218,633$413,849$48,623$756,160
10$1,279,564$436,394$51,055$792,116
11$1,343,543$460,066$53,607$829,870
12$1,410,720$484,921$56,288$869,511
13$1,481,256$511,020$59,102$911,134
14$1,555,319$538,423$62,057$954,838
15$1,633,084$567,196$65,160$1,000,728
16$1,714,739$597,408$68,418$1,048,912
17$1,800,476$629,131$71,839$1,099,506
18$1,890,499$662,440$75,431$1,152,629
19$1,985,024$697,414$79,202$1,208,408
20$2,084,276$734,137$83,163$1,266,976
21$2,188,489$772,696$87,321$1,328,473
22$2,297,914$813,183$91,687$1,393,044
23$2,412,810$855,695$96,271$1,460,844
24$2,533,450$900,332$101,085$1,532,034
25$2,660,123$947,200$106,139$1,606,783
26$2,793,129$996,413$111,446$1,685,270
27$2,932,785$1,048,086$117,018$1,767,682
28$3,079,424$1,102,342$122,869$1,854,213
29$3,233,396$1,159,311$129,012$1,945,072
30$3,395,065$1,219,129$135,463$2,040,473
Total$54,800,000$19,164,650$2,186,521$33,448,832

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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.