USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Jan 22, 1999

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 $35,000,000 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, Jan 22, 1999
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$526,800$154,755$22,389$349,656
2$553,140$163,974$23,508$365,658
3$580,797$173,654$24,684$382,460
4$609,837$183,827$25,918$400,092
5$640,329$195,109$27,214$418,006
6$672,345$206,956$28,575$436,815
7$705,963$219,394$30,003$456,565
8$741,261$232,454$31,504$477,303
9$778,324$246,168$33,079$499,078
10$817,240$260,567$34,733$521,941
11$858,102$275,686$36,469$545,947
12$901,007$291,560$38,293$571,154
13$946,058$308,229$40,207$597,621
14$993,360$325,731$42,218$625,411
15$1,043,028$344,108$44,329$654,591
16$1,095,180$363,404$46,545$685,230
17$1,149,939$383,665$48,872$717,401
18$1,207,436$404,939$51,316$751,181
19$1,267,808$427,277$53,882$786,649
20$1,331,198$450,731$56,576$823,891
21$1,397,758$475,358$59,405$862,995
22$1,467,646$501,217$62,375$904,054
23$1,541,028$528,368$65,494$947,166
24$1,618,079$556,877$68,768$992,434
25$1,698,983$586,812$72,207$1,039,965
26$1,783,933$618,243$75,817$1,089,873
27$1,873,129$651,246$79,608$1,142,276
28$1,966,786$685,898$83,588$1,197,299
29$2,065,125$722,284$87,768$1,255,073
30$2,168,381$760,489$92,156$1,315,736
Total$35,000,000$11,698,980$1,487,500$21,813,521

◄ 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.