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Michigan Mega Millions Jackpot Annuity Payout Schedule for Jan 19, 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 Mega Millions 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 $850,000,000 for a ticket purchased in Michigan, 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.

State:

Michigan

Drawing Date:Tue, Jan 19, 2021
Jackpot:$850,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,793,720$4,697,749$543,733$7,552,238
2$13,433,406$4,934,432$570,920$7,928,054
3$14,105,076$5,182,950$599,466$8,322,660
4$14,810,330$5,443,894$629,439$8,736,997
5$15,550,846$5,717,885$660,911$9,172,050
6$16,328,389$6,005,576$693,957$9,628,856
7$17,144,809$6,307,651$728,654$10,108,503
8$18,002,049$6,624,830$765,087$10,612,131
9$18,902,151$6,957,868$803,341$11,140,942
10$19,847,259$7,307,558$843,508$11,696,192
11$20,839,622$7,674,732$885,684$12,279,205
12$21,881,603$8,060,265$929,968$12,891,369
13$22,975,683$8,465,075$976,467$13,534,141
14$24,124,467$8,890,125$1,025,290$14,209,052
15$25,330,690$9,336,428$1,076,554$14,917,708
16$26,597,225$9,805,046$1,130,382$15,661,797
17$27,927,086$10,297,094$1,186,901$16,443,091
18$29,323,440$10,813,745$1,246,246$17,263,449
19$30,789,612$11,356,229$1,308,559$18,124,825
20$32,329,093$11,925,837$1,373,986$19,029,270
21$33,945,547$12,523,925$1,442,686$19,978,937
22$35,642,825$13,151,917$1,514,820$20,976,087
23$37,424,966$13,811,310$1,590,561$22,023,095
24$39,296,214$14,503,671$1,670,089$23,122,453
25$41,261,025$15,230,651$1,753,594$24,276,780
26$43,324,077$15,993,981$1,841,273$25,488,823
27$45,490,280$16,795,476$1,933,337$26,761,468
28$47,764,794$17,637,046$2,030,004$28,097,744
29$50,153,034$18,520,695$2,131,504$29,500,835
30$52,660,686$19,448,526$2,238,079$30,974,081
Total$850,000,002$313,422,167$36,125,000$500,452,833

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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.