USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Mar 25, 2014

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The tax information provided here is based on 2021 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 $20,000,000 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:Tue, Mar 25, 2014
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$12,794$208,331
2$316,080$85,172$13,433$217,474
3$331,884$90,704$14,105$227,075
4$348,478$96,512$14,810$237,156
5$365,902$102,610$15,551$247,741
6$384,197$109,013$16,328$258,856
7$403,407$115,737$17,145$270,526
8$423,578$122,796$18,002$282,779
9$444,757$130,209$18,902$295,645
10$466,994$137,992$19,847$309,155
11$490,344$146,165$20,840$323,340
12$514,861$154,746$21,882$338,234
13$540,604$164,096$22,976$353,533
14$567,635$174,097$24,124$369,413
15$596,016$184,598$25,331$386,087
16$625,817$195,625$26,597$403,595
17$657,108$207,202$27,927$421,979
18$689,963$219,359$29,323$441,281
19$724,461$232,123$30,790$461,549
20$760,685$245,526$32,329$482,830
21$798,719$259,598$33,946$505,175
22$838,655$274,374$35,643$528,637
23$880,587$289,890$37,425$553,273
24$924,617$306,180$39,296$579,140
25$970,848$323,286$41,261$606,301
26$1,019,390$341,247$43,324$634,819
27$1,070,360$360,105$45,490$664,764
28$1,123,878$379,907$47,765$696,206
29$1,180,071$400,699$50,153$729,220
30$1,239,075$422,530$52,661$763,884
Total$20,000,000$6,352,002$850,000$12,797,998

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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.