ohio classic lotto payout calculator

Ohio Powerball Jackpot Annuity Payout Schedule for Jan 23, 2021

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The tax information provided here is based on 2021 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 $20,000,000 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 prize money, as well as deductions claimed.

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $301,029 $79,904 $14,440 $206,684
2 $316,080 $85,172 $15,162 $215,745
3 $331,884 $90,704 $15,920 $225,260
4 $348,478 $96,512 $16,717 $235,250
5 $365,902 $102,610 $17,552 $245,740
6 $384,197 $109,013 $18,430 $256,754
7 $403,407 $115,737 $19,351 $268,319
8 $423,578 $122,796 $20,319 $280,462
9 $444,757 $130,209 $21,335 $293,213
10 $466,994 $137,992 $22,402 $306,600
11 $490,344 $146,165 $23,522 $320,658
12 $514,861 $154,746 $24,698 $335,418
13 $540,604 $164,096 $25,933 $350,576
14 $567,635 $174,097 $27,229 $366,308
15 $596,016 $184,598 $28,591 $382,827
16 $625,817 $195,625 $30,020 $400,172
17 $657,108 $207,202 $31,521 $418,384
18 $689,963 $219,359 $33,098 $437,507
19 $724,461 $232,123 $34,752 $457,586
20 $760,685 $245,526 $36,490 $478,669
21 $798,719 $259,598 $38,315 $500,806
22 $838,655 $274,374 $40,230 $524,050
23 $880,587 $289,890 $42,242 $548,456
24 $924,617 $306,180 $44,354 $574,082
25 $970,848 $323,286 $46,572 $600,990
26 $1,019,390 $341,247 $48,900 $629,243
27 $1,070,360 $360,105 $51,345 $658,909
28 $1,123,878 $379,907 $53,912 $690,058
29 $1,180,071 $400,699 $56,608 $722,765
30 $1,239,075 $422,530 $59,438 $757,107
Total $20,000,000 $6,352,002 $959,398 $12,688,598

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.

Powerball annuity chart shows the annual net payout a Ohio jackpot winner would get after federal and state taxes.

Ohio Classic Lottery Payout Calculator

Ohio Classic Lottery Payout Calculator

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