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Michigan Mega Millions Jackpot Annuity Payout Schedule for Aug 30, 2013

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The tax information provided here is based on 2022 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 $77,000,000 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 prize money, as well as deductions claimed.

State:

Michigan

Drawing Date:Fri, Aug 30, 2013
Jackpot:$77,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,158,960$391,770$49,256$717,934
2$1,216,909$413,211$51,719$751,979
3$1,277,754$435,724$54,305$787,725
4$1,341,642$459,362$57,020$825,259
5$1,408,724$484,183$59,871$864,670
6$1,479,160$510,244$62,864$906,051
7$1,553,118$537,609$66,008$949,502
8$1,630,774$566,341$69,308$995,125
9$1,712,313$596,511$72,773$1,043,029
10$1,797,928$628,188$76,412$1,093,328
11$1,887,825$661,450$80,233$1,146,142
12$1,982,216$696,375$84,244$1,201,597
13$2,081,327$733,046$88,456$1,259,824
14$2,185,393$771,550$92,879$1,320,963
15$2,294,663$811,980$97,523$1,385,159
16$2,409,396$854,431$102,399$1,452,565
17$2,529,865$899,005$107,519$1,523,341
18$2,656,359$945,808$112,895$1,597,656
19$2,789,177$994,950$118,540$1,675,686
20$2,928,635$1,046,550$124,467$1,757,618
21$3,075,067$1,100,730$130,690$1,843,647
22$3,228,821$1,157,619$137,225$1,933,977
23$3,390,262$1,217,352$144,086$2,028,824
24$3,559,775$1,280,072$151,290$2,128,413
25$3,737,763$1,345,927$158,855$2,232,981
26$3,924,652$1,415,076$166,798$2,342,778
27$4,120,884$1,487,682$175,138$2,458,064
28$4,326,928$1,563,918$183,894$2,579,115
29$4,543,275$1,643,967$193,089$2,706,219
30$4,770,439$1,728,017$202,744$2,839,678
Total$77,000,000$27,378,648$3,272,500$46,348,849

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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.