USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Jan 17, 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 $101,500,000 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, Jan 17, 2024
Jackpot:$101,500,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,527,721$523,444$53,470$950,806
2$1,604,107$551,707$56,144$996,256
3$1,684,312$581,383$58,951$1,043,978
4$1,768,528$612,543$61,898$1,094,086
5$1,856,954$645,261$64,993$1,146,700
6$1,949,802$679,614$68,243$1,201,944
7$2,047,292$715,686$71,655$1,259,951
8$2,149,656$753,561$75,238$1,320,858
9$2,257,139$793,329$79,000$1,384,810
10$2,369,996$835,086$82,950$1,451,960
11$2,488,496$878,931$87,097$1,522,467
12$2,612,921$924,968$91,452$1,596,500
13$2,743,567$973,307$96,025$1,674,235
14$2,880,745$1,024,063$100,826$1,755,856
15$3,024,782$1,077,357$105,867$1,841,558
16$3,176,022$1,133,316$111,161$1,931,545
17$3,334,823$1,192,072$116,719$2,026,032
18$3,501,564$1,253,766$122,555$2,125,243
19$3,676,642$1,318,545$128,682$2,229,414
20$3,860,474$1,386,563$135,117$2,338,794
21$4,053,498$1,457,982$141,872$2,453,643
22$4,256,173$1,532,972$148,966$2,574,235
23$4,468,981$1,611,711$156,414$2,700,856
24$4,692,430$1,694,387$164,235$2,833,808
25$4,927,052$1,781,197$172,447$2,973,408
26$5,173,404$1,872,347$181,069$3,119,988
27$5,432,075$1,968,055$190,123$3,273,897
28$5,703,678$2,068,549$199,629$3,435,501
29$5,988,862$2,174,067$209,610$3,605,185
30$6,288,305$2,284,861$220,091$3,783,354
Total$101,500,000$36,300,630$3,552,499$61,646,868

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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.