USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Nov 7, 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 $2,040,100,000 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 7, 2022
Jackpot:$2,040,100,000
Federal Tax:37% marginal rate
State Tax: 3.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$30,706,433$11,324,335$1,151,491$18,230,606
2$32,241,755$11,892,404$1,209,066$19,140,285
3$33,853,842$12,488,876$1,269,519$20,095,446
4$35,546,535$13,115,173$1,332,995$21,098,367
5$37,323,860$13,772,783$1,399,645$22,151,432
6$39,190,054$14,463,275$1,469,627$23,257,152
7$41,149,558$15,188,291$1,543,108$24,418,158
8$43,207,035$15,949,558$1,620,264$25,637,213
9$45,367,387$16,748,888$1,701,277$26,917,222
10$47,635,756$17,588,185$1,786,341$28,261,230
11$50,017,544$18,469,446$1,875,658$29,672,440
12$52,518,421$19,394,771$1,969,441$31,154,209
13$55,144,342$20,366,361$2,067,913$32,710,067
14$57,901,559$21,386,532$2,171,308$34,343,719
15$60,796,637$22,457,711$2,279,874$36,059,052
16$63,836,469$23,582,449$2,393,868$37,860,153
17$67,028,291$24,763,423$2,513,561$39,751,308
18$70,379,706$26,003,446$2,639,239$41,737,021
19$73,898,691$27,305,471$2,771,201$43,822,020
20$77,593,627$28,672,597$2,909,761$46,011,269
21$81,473,307$30,108,079$3,055,249$48,309,979
22$85,546,973$31,615,335$3,208,011$50,723,626
23$89,824,322$33,197,954$3,368,412$53,257,956
24$94,315,537$34,859,704$3,536,833$55,919,000
25$99,031,314$36,604,541$3,713,674$58,713,098
26$103,982,881$38,436,621$3,899,358$61,646,902
27$109,182,025$40,360,304$4,094,326$64,727,395
28$114,641,124$42,380,171$4,299,042$67,961,911
29$120,373,181$44,501,032$4,513,994$71,358,155
30$126,391,841$46,727,936$4,739,694$74,924,211
Total$2,040,100,004$753,725,652$76,503,750$1,209,870,602

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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.