USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Oct 2, 2023

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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 $1,066,200,000 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, Oct 2, 2023
Jackpot:$1,066,200,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,047,840$5,894,721$561,674$9,591,445
2$16,850,232$6,191,606$589,758$10,068,868
3$17,692,744$6,503,335$619,246$10,570,162
4$18,577,381$6,830,651$650,208$11,096,522
5$19,506,249$7,174,333$682,719$11,649,198
6$20,481,562$7,535,198$716,855$12,229,509
7$21,505,641$7,914,107$752,697$12,838,836
8$22,580,923$8,311,962$790,332$13,478,629
9$23,709,969$8,729,709$829,849$14,150,411
10$24,895,467$9,168,343$871,341$14,855,783
11$26,140,241$9,628,909$914,908$15,596,423
12$27,447,253$10,112,504$960,654$16,374,095
13$28,819,615$10,620,278$1,008,687$17,190,651
14$30,260,596$11,153,441$1,059,121$18,048,035
15$31,773,626$11,713,262$1,112,077$18,948,287
16$33,362,307$12,301,074$1,167,681$19,893,553
17$35,030,422$12,918,276$1,226,065$20,886,081
18$36,781,944$13,566,339$1,287,368$21,928,236
19$38,621,040$14,246,805$1,351,736$23,022,499
20$40,552,093$14,961,295$1,419,323$24,171,475
21$42,579,697$15,711,508$1,490,289$25,377,900
22$44,708,682$16,499,233$1,564,804$26,644,646
23$46,944,116$17,326,343$1,643,044$27,974,729
24$49,291,322$18,194,809$1,725,196$29,371,316
25$51,755,888$19,106,699$1,811,456$30,837,733
26$54,343,683$20,064,183$1,902,029$32,377,471
27$57,060,867$21,069,541$1,997,130$33,994,196
28$59,913,910$22,125,167$2,096,987$35,691,756
29$62,909,605$23,233,574$2,201,836$37,474,195
30$66,055,086$24,397,402$2,311,928$39,345,756
Total$1,066,200,002$393,204,607$37,316,998$635,678,396

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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.