USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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 $56,000,000 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, Mar 22, 2002
Jackpot:$56,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$842,880$270,053$35,822$537,004
2$885,024$285,647$37,614$561,764
3$929,276$302,020$39,494$587,762
4$975,739$319,211$41,469$615,059
5$1,024,526$337,262$43,542$643,721
6$1,075,753$356,216$45,719$673,817
7$1,129,540$376,118$48,005$705,417
8$1,186,017$397,014$50,406$738,597
9$1,245,318$418,955$52,926$773,437
10$1,307,584$441,994$55,572$810,018
11$1,372,963$466,184$58,351$848,428
12$1,441,611$491,584$61,268$888,759
13$1,513,692$518,254$64,332$931,106
14$1,589,377$546,257$67,549$975,571
15$1,668,845$575,661$70,926$1,022,259
16$1,752,288$606,534$74,472$1,071,281
17$1,839,902$638,952$78,196$1,122,755
18$1,931,897$672,990$82,106$1,176,802
19$2,028,492$708,730$86,211$1,233,551
20$2,129,917$746,257$90,521$1,293,138
21$2,236,413$785,660$95,048$1,355,705
22$2,348,233$827,034$99,800$1,421,399
23$2,465,645$870,476$104,790$1,490,379
24$2,588,927$916,091$110,029$1,562,807
25$2,718,373$963,986$115,531$1,638,857
26$2,854,292$1,014,276$121,307$1,718,709
27$2,997,007$1,067,080$127,373$1,802,554
28$3,146,857$1,122,525$133,741$1,890,591
29$3,304,200$1,180,742$140,428$1,983,030
30$3,469,410$1,241,869$147,450$2,080,091
Total$56,000,000$19,465,632$2,379,998$34,154,368

◄ 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.