USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Feb 24, 2024

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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 $375,900,000 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, Feb 24, 2024
Jackpot:$375,900,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,657,834$2,050,419$198,024$3,409,391
2$5,940,726$2,155,089$207,925$3,577,712
3$6,237,762$2,264,992$218,322$3,754,448
4$6,549,651$2,380,391$229,238$3,940,022
5$6,877,133$2,501,559$240,700$4,134,874
6$7,220,990$2,628,786$252,735$4,339,469
7$7,582,039$2,762,375$265,371$4,554,293
8$7,961,141$2,902,643$278,640$4,779,859
9$8,359,198$3,049,924$292,572$5,016,703
10$8,777,158$3,204,569$307,201$5,265,389
11$9,216,016$3,366,946$322,561$5,526,509
12$9,676,817$3,537,443$338,689$5,800,686
13$10,160,658$3,716,464$355,623$6,088,571
14$10,668,691$3,904,436$373,404$6,390,851
15$11,202,125$4,101,807$392,074$6,708,244
16$11,762,232$4,309,046$411,678$7,041,508
17$12,350,343$4,526,647$432,262$7,391,434
18$12,967,860$4,755,129$453,875$7,758,857
19$13,616,253$4,995,034$476,569$8,144,650
20$14,297,066$5,246,935$500,397$8,549,734
21$15,011,919$5,511,430$525,417$8,975,072
22$15,762,515$5,789,151$551,688$9,421,676
23$16,550,641$6,080,757$579,272$9,890,611
24$17,378,173$6,386,944$608,236$10,382,993
25$18,247,081$6,708,440$638,648$10,899,993
26$19,159,436$7,046,011$670,580$11,442,844
27$20,117,408$7,400,461$704,109$12,012,837
28$21,123,278$7,772,633$739,315$12,611,330
29$22,179,442$8,163,414$776,280$13,239,747
30$23,288,414$8,573,733$815,094$13,899,586
Total$375,900,001$137,793,608$13,156,499$224,949,893

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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.