USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Sep 20, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $677,100,000 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:Wed, Sep 20, 2023
Jackpot:$677,100,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,191,327$3,728,979$356,696$6,105,652
2$10,700,893$3,917,518$374,531$6,408,844
3$11,235,938$4,115,485$393,258$6,727,195
4$11,797,735$4,323,350$412,921$7,061,465
5$12,387,621$4,541,608$433,567$7,412,447
6$13,007,002$4,770,779$455,245$7,780,979
7$13,657,353$5,011,408$478,007$8,167,937
8$14,340,220$5,264,069$501,908$8,574,243
9$15,057,231$5,529,363$527,003$9,000,865
10$15,810,093$5,807,922$553,353$9,448,817
11$16,600,597$6,100,409$581,021$9,919,168
12$17,430,627$6,407,520$610,072$10,413,035
13$18,302,159$6,729,986$640,576$10,931,597
14$19,217,267$7,068,576$672,604$11,476,086
15$20,178,130$7,424,096$706,235$12,047,799
16$21,187,037$7,797,391$741,546$12,648,099
17$22,246,388$8,189,351$778,624$13,278,413
18$23,358,708$8,600,910$817,555$13,940,243
19$24,526,643$9,033,046$858,432$14,635,165
20$25,752,975$9,486,789$901,354$15,364,832
21$27,040,624$9,963,218$946,422$16,130,983
22$28,392,655$10,463,470$993,743$16,935,442
23$29,812,288$10,988,734$1,043,430$17,780,123
24$31,302,902$11,540,261$1,095,602$18,667,039
25$32,868,047$12,119,365$1,150,382$19,598,300
26$34,511,450$12,727,424$1,207,901$20,576,125
27$36,237,022$13,365,886$1,268,296$21,602,840
28$38,048,873$14,036,271$1,331,711$22,680,892
29$39,951,317$14,740,175$1,398,296$23,812,846
30$41,948,883$15,479,274$1,468,211$25,001,397
Total$677,100,001$249,272,633$23,698,502$404,128,868

◄ Back to Jackpot Analysis

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.