USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Dec 3, 2022

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The tax information provided here is based on 2024 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 $79,900,000 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:Sat, Dec 3, 2022
Jackpot:$79,900,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,202,610$403,153$42,091$757,365
2$1,262,740$425,402$44,196$793,143
3$1,325,877$448,762$46,406$830,709
4$1,392,171$473,291$48,726$870,154
5$1,461,780$499,046$51,162$911,571
6$1,534,869$526,089$53,720$955,059
7$1,611,612$554,484$56,406$1,000,721
8$1,692,193$584,299$59,227$1,048,667
9$1,776,802$615,605$62,188$1,099,010
10$1,865,642$648,475$65,297$1,151,869
11$1,958,924$682,990$68,562$1,207,372
12$2,056,871$719,230$71,990$1,265,650
13$2,159,714$757,282$75,590$1,326,842
14$2,267,700$797,237$79,369$1,391,094
15$2,381,085$839,189$83,338$1,458,558
16$2,500,139$883,239$87,505$1,529,395
17$2,625,146$929,492$91,880$1,603,774
18$2,756,403$978,057$96,474$1,681,872
19$2,894,224$1,029,050$101,298$1,763,875
20$3,038,935$1,082,594$106,363$1,849,978
21$3,190,881$1,138,814$111,681$1,940,387
22$3,350,426$1,197,845$117,265$2,035,315
23$3,517,947$1,259,828$123,128$2,134,991
24$3,693,844$1,324,910$129,285$2,239,649
25$3,878,536$1,393,246$135,749$2,349,541
26$4,072,463$1,464,999$142,536$2,464,928
27$4,276,086$1,540,340$149,663$2,586,084
28$4,489,891$1,619,447$157,146$2,713,297
29$4,714,385$1,702,510$165,003$2,846,871
30$4,950,104$1,789,726$173,254$2,987,124
Total$79,900,000$28,308,631$2,796,498$48,794,865

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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.