USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Jan 13, 2024

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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 $78,400,000 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, Jan 13, 2024
Jackpot:$78,400,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,180,033$394,800$41,301$743,932
2$1,239,034$416,630$43,366$779,038
3$1,300,986$439,553$45,535$815,899
4$1,366,035$463,621$47,811$854,603
5$1,434,337$488,892$50,202$895,243
6$1,506,054$515,428$52,712$937,914
7$1,581,356$543,290$55,347$982,719
8$1,660,424$572,545$58,115$1,029,765
9$1,743,445$603,263$61,021$1,079,162
10$1,830,618$635,516$64,072$1,131,030
11$1,922,149$669,383$67,275$1,185,491
12$2,018,256$704,942$70,639$1,242,675
13$2,119,169$742,280$74,171$1,302,718
14$2,225,127$781,485$77,879$1,365,763
15$2,336,384$822,650$81,773$1,431,961
16$2,453,203$865,873$85,862$1,501,468
17$2,575,863$911,257$90,155$1,574,451
18$2,704,656$958,911$94,663$1,651,083
19$2,839,889$1,008,947$99,396$1,731,546
20$2,981,883$1,061,485$104,366$1,816,033
21$3,130,978$1,116,649$109,584$1,904,744
22$3,287,526$1,174,573$115,063$1,997,890
23$3,451,903$1,235,392$120,817$2,095,694
24$3,624,498$1,299,252$126,857$2,198,388
25$3,805,723$1,366,305$133,200$2,306,217
26$3,996,009$1,436,711$139,860$2,419,438
27$4,195,809$1,510,637$146,853$2,538,319
28$4,405,600$1,588,260$154,196$2,663,144
29$4,625,880$1,669,763$161,906$2,794,211
30$4,857,174$1,755,342$170,001$2,931,831
Total$78,400,000$27,753,635$2,743,998$47,902,370

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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.