USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Mar 4, 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 $462,700,000 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, Mar 4, 2024
Jackpot:$462,700,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,964,299$2,534,978$243,750$4,185,570
2$7,312,514$2,663,818$255,938$4,392,758
3$7,678,140$2,799,099$268,735$4,610,305
4$8,062,047$2,941,145$282,172$4,838,730
5$8,465,149$3,090,293$296,280$5,078,576
6$8,888,406$3,246,898$311,094$5,330,414
7$9,332,827$3,411,334$326,649$5,594,844
8$9,799,468$3,583,991$342,981$5,872,496
9$10,289,442$3,765,281$360,130$6,164,030
10$10,803,914$3,955,636$378,137$6,470,141
11$11,344,109$4,155,508$397,044$6,791,557
12$11,911,315$4,365,374$416,896$7,129,045
13$12,506,880$4,585,734$437,741$7,483,406
14$13,132,225$4,817,111$459,628$7,855,486
15$13,788,836$5,060,057$482,609$8,246,169
16$14,478,278$5,315,150$506,740$8,656,387
17$15,202,191$5,582,999$532,077$9,087,116
18$15,962,301$5,864,239$558,681$9,539,381
19$16,760,416$6,159,542$586,615$10,014,260
20$17,598,437$6,469,609$615,945$10,512,882
21$18,478,359$6,795,180$646,743$11,036,436
22$19,402,276$7,137,030$679,080$11,586,167
23$20,372,390$7,495,972$713,034$12,163,385
24$21,391,010$7,872,861$748,685$12,769,463
25$22,460,560$8,268,595$786,120$13,405,846
26$23,583,589$8,684,116$825,426$14,074,047
27$24,762,768$9,120,412$866,697$14,775,659
28$26,000,906$9,578,523$910,032$15,512,351
29$27,300,951$10,059,540$955,533$16,285,878
30$28,665,999$10,564,607$1,003,310$17,098,082
Total$462,700,001$169,944,632$16,194,502$276,560,867

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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.