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Michigan Mega Millions Jackpot Annuity Payout Schedule for Sep 22, 2023

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The tax information provided here is based on 2022 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 $205,000,000 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 money, as well as deductions claimed.

State:

Michigan

Drawing Date:Fri, Sep 22, 2023
Jackpot:$205,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,085,544$1,104,606$131,136$1,849,802
2$3,239,821$1,161,689$137,692$1,940,440
3$3,401,812$1,221,626$144,577$2,035,610
4$3,571,903$1,284,559$151,806$2,135,538
5$3,750,498$1,350,639$159,396$2,240,463
6$3,938,023$1,420,024$167,366$2,350,634
7$4,134,924$1,492,877$175,734$2,466,313
8$4,341,671$1,569,373$184,521$2,587,776
9$4,558,754$1,649,694$193,747$2,715,313
10$4,786,692$1,734,031$203,434$2,849,226
11$5,026,026$1,822,585$213,606$2,989,836
12$5,277,328$1,915,566$224,286$3,137,475
13$5,541,194$2,013,197$235,501$3,292,497
14$5,818,254$2,115,709$247,276$3,455,269
15$6,109,166$2,223,347$259,640$3,626,180
16$6,414,625$2,336,366$272,622$3,805,637
17$6,735,356$2,455,037$286,253$3,994,067
18$7,072,124$2,579,641$300,565$4,191,918
19$7,425,730$2,710,475$315,594$4,399,661
20$7,797,017$2,847,851$331,373$4,617,792
21$8,186,867$2,992,096$347,942$4,846,830
22$8,596,211$3,143,553$365,339$5,087,319
23$9,026,021$3,302,583$383,606$5,339,832
24$9,477,322$3,469,564$402,786$5,604,972
25$9,951,188$3,644,895$422,926$5,883,368
26$10,448,748$3,828,992$444,072$6,175,684
27$10,971,185$4,022,294$466,275$6,482,616
28$11,519,744$4,225,260$489,589$6,804,895
29$12,095,732$4,438,376$514,069$7,143,287
30$12,700,518$4,662,147$539,772$7,498,600
Total$205,000,000$74,738,652$8,712,501$121,548,850

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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.