USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Nov 28, 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 $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 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: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$824,819$262,203$28,869$533,747
2$866,060$277,462$30,312$558,285
3$909,363$293,484$31,828$584,050
4$954,831$310,308$33,419$611,104
5$1,002,572$327,972$35,090$639,510
6$1,052,701$346,520$36,845$669,337
7$1,105,336$365,995$38,687$700,655
8$1,160,603$386,443$40,621$733,538
9$1,218,633$407,914$42,652$768,066
10$1,279,564$430,459$44,785$804,321
11$1,343,543$454,131$47,024$842,388
12$1,410,720$478,987$49,375$882,358
13$1,481,256$505,085$51,844$924,327
14$1,555,319$532,488$54,436$968,394
15$1,633,084$561,262$57,158$1,014,665
16$1,714,739$591,474$60,016$1,063,249
17$1,800,476$623,196$63,017$1,114,263
18$1,890,499$656,505$66,167$1,167,827
19$1,985,024$691,479$69,476$1,224,069
20$2,084,276$728,202$72,950$1,283,124
21$2,188,489$766,761$76,597$1,345,131
22$2,297,914$807,248$80,427$1,410,239
23$2,412,810$849,760$84,448$1,478,601
24$2,533,450$894,397$88,671$1,550,383
25$2,660,123$941,266$93,104$1,625,753
26$2,793,129$990,478$97,760$1,704,891
27$2,932,785$1,042,151$102,647$1,787,987
28$3,079,424$1,096,407$107,780$1,875,237
29$3,233,396$1,153,377$113,169$1,966,850
30$3,395,065$1,213,194$118,827$2,063,044
Total$54,800,000$18,986,608$1,918,001$33,895,393

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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.