USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Mar 10, 1998

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $17,000,000 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:Tue, Mar 10, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$10,875$185,069
2$268,668$64,409$11,418$192,841
3$282,102$69,110$11,989$201,002
4$296,207$74,047$12,589$209,571
5$311,017$79,231$13,218$218,568
6$326,568$84,673$13,879$228,015
7$342,896$90,388$14,573$237,935
8$360,041$96,389$15,302$248,350
9$378,043$102,690$16,067$259,286
10$396,945$109,306$16,870$270,769
11$416,792$116,252$17,714$282,827
12$437,632$123,546$18,599$295,487
13$459,514$131,205$19,529$308,780
14$482,489$139,246$20,506$322,738
15$506,614$147,690$21,531$337,393
16$531,945$156,555$22,608$352,782
17$558,542$165,864$23,738$368,939
18$586,469$175,639$24,925$385,905
19$615,792$186,031$26,171$403,590
20$646,582$197,423$27,480$421,679
21$678,911$209,385$28,854$440,672
22$712,856$221,945$30,296$460,615
23$748,499$235,132$31,811$481,556
24$785,924$248,980$33,402$503,543
25$825,220$263,519$35,072$526,629
26$866,482$278,786$36,825$550,870
27$909,806$294,816$38,667$576,323
28$955,296$311,647$40,600$603,049
29$1,003,061$329,320$42,630$631,110
30$1,053,214$347,877$44,762$660,575
Total$17,000,000$5,111,032$722,500$11,166,468

◄ Back to Jackpot Analysis

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.