USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Dec 6, 1996

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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 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 $9,000,000 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, Dec 6, 1996
Jackpot:$9,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$135,463$25,554$5,757$104,152
2$142,236$27,179$6,045$109,012
3$149,348$28,886$6,347$114,115
4$156,815$30,678$6,665$119,472
5$164,656$32,560$6,998$125,098
6$172,889$34,536$7,348$131,005
7$181,533$36,610$7,715$137,208
8$190,610$38,789$8,101$143,720
9$200,140$41,731$8,506$149,903
10$210,147$44,934$8,931$156,282
11$220,655$48,296$9,378$162,981
12$231,688$51,827$9,847$170,014
13$243,272$55,534$10,339$177,399
14$255,436$59,777$10,856$184,802
15$268,207$64,247$11,399$192,561
16$281,618$68,941$11,969$200,708
17$295,699$73,869$12,567$209,262
18$310,483$79,044$13,196$218,244
19$326,008$84,477$13,855$227,675
20$342,308$90,183$14,548$237,577
21$359,423$96,173$15,275$247,975
22$377,395$102,463$16,039$258,892
23$396,264$109,067$16,841$270,356
24$416,078$116,002$17,683$282,392
25$436,881$123,283$18,567$295,031
26$458,726$130,929$19,496$308,301
27$481,662$138,956$20,471$322,235
28$505,745$147,385$21,494$336,865
29$531,032$156,236$22,569$352,227
30$557,584$165,529$23,697$368,357
Total$9,000,000$2,303,675$382,499$6,313,821

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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.