USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Dec 5, 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 $89,200,000 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 money, as well as deductions claimed.

State:

Ohio

Drawing Date:Mon, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$454,945$46,991$840,652
2$1,409,717$479,783$49,340$880,594
3$1,480,203$505,863$51,807$922,533
4$1,554,213$533,247$54,397$966,569
5$1,631,924$562,000$57,117$1,012,807
6$1,713,520$592,190$59,973$1,061,357
7$1,799,196$623,890$62,972$1,112,334
8$1,889,156$657,176$66,120$1,165,860
9$1,983,614$692,125$69,426$1,222,063
10$2,082,795$728,822$72,898$1,281,075
11$2,186,934$767,353$76,543$1,343,038
12$2,296,281$807,812$80,370$1,408,100
13$2,411,095$850,293$84,388$1,476,414
14$2,531,650$894,898$88,608$1,548,144
15$2,658,232$941,734$93,038$1,623,461
16$2,791,144$990,911$97,690$1,702,543
17$2,930,701$1,042,547$102,575$1,785,579
18$3,077,236$1,096,765$107,703$1,872,768
19$3,231,098$1,153,694$113,088$1,964,316
20$3,392,653$1,213,469$118,743$2,060,441
21$3,562,286$1,276,233$124,680$2,161,372
22$3,740,400$1,342,136$130,914$2,267,350
23$3,927,420$1,411,333$137,460$2,378,627
24$4,123,791$1,483,990$144,333$2,495,468
25$4,329,980$1,560,281$151,549$2,618,151
26$4,546,480$1,640,385$159,127$2,746,968
27$4,773,804$1,724,495$167,083$2,882,225
28$5,012,494$1,812,810$175,437$3,024,246
29$5,263,118$1,905,542$184,209$3,173,368
30$5,526,274$2,002,909$193,420$3,329,945
Total$89,200,000$31,749,631$3,121,999$54,328,368

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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.