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Michigan Mega Millions Jackpot Annuity Payout Schedule for Jan 29, 1999

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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 $50,000,000 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 29, 1999
Jackpot:$50,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,572$236,639$31,984$483,948
2$790,200$250,562$33,584$506,055
3$829,710$265,181$35,263$529,267
4$871,196$280,530$37,026$553,640
5$914,756$296,647$38,877$579,231
6$960,493$313,570$40,821$606,102
7$1,008,518$331,339$42,862$634,317
8$1,058,944$349,997$45,005$663,942
9$1,111,891$369,588$47,255$695,048
10$1,167,486$390,157$49,618$727,710
11$1,225,860$411,756$52,099$762,005
12$1,287,153$434,434$54,704$798,015
13$1,351,511$458,247$57,439$835,825
14$1,419,086$483,250$60,311$875,525
15$1,490,041$509,503$63,327$917,211
16$1,564,543$537,069$66,493$960,981
17$1,642,770$566,013$69,818$1,006,939
18$1,724,908$596,404$73,309$1,055,196
19$1,811,154$628,315$76,974$1,105,865
20$1,901,711$661,821$80,823$1,159,068
21$1,996,797$697,003$84,864$1,214,930
22$2,096,637$733,943$89,107$1,273,586
23$2,201,469$772,731$93,562$1,335,175
24$2,311,542$813,458$98,241$1,399,843
25$2,427,119$856,222$103,153$1,467,745
26$2,548,475$901,124$108,310$1,539,041
27$2,675,899$948,270$113,726$1,613,903
28$2,809,694$997,774$119,412$1,692,507
29$2,950,178$1,049,754$125,383$1,775,042
30$3,097,687$1,104,332$131,652$1,861,704
Total$50,000,000$17,245,633$2,125,002$30,629,366

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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.