USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Dec 7, 2004

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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 $10,000,000 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, Dec 7, 2004
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$6,397$114,952
2$158,040$30,972$6,717$120,351
3$165,942$32,869$7,053$126,021
4$174,239$34,860$7,405$131,974
5$182,951$36,951$7,775$138,225
6$192,099$39,158$8,164$144,776
7$201,704$42,232$8,572$150,900
8$211,789$45,459$9,001$157,329
9$222,378$48,848$9,451$164,080
10$233,497$52,406$9,924$171,168
11$245,172$56,185$10,420$178,567
12$257,431$60,475$10,941$186,014
13$270,302$64,981$11,488$193,834
14$283,817$69,711$12,062$202,044
15$298,008$74,678$12,665$210,665
16$312,909$79,893$13,299$219,717
17$328,554$85,369$13,964$229,222
18$344,982$91,118$14,662$239,202
19$362,231$97,156$15,395$249,680
20$380,342$103,495$16,165$260,683
21$399,359$110,151$16,973$272,236
22$419,327$117,139$17,821$284,367
23$440,294$124,478$18,712$297,104
24$462,308$132,183$19,648$310,478
25$485,424$140,273$20,631$324,520
26$509,695$148,768$21,662$339,265
27$535,180$157,688$22,745$354,747
28$561,939$167,053$23,882$371,003
29$590,036$176,887$25,077$388,072
30$619,537$187,417$26,330$405,791
Total$10,000,000$2,638,019$425,001$6,936,987

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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.