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Michigan Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 2014

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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 $105,000,000 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, Sep 30, 2014
Jackpot:$105,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,580,401$542,936$67,167$970,298
2$1,659,421$572,173$70,525$1,016,722
3$1,742,392$602,873$74,052$1,065,467
4$1,829,511$635,107$77,754$1,116,650
5$1,920,987$668,953$81,642$1,170,392
6$2,017,036$704,491$85,724$1,226,821
7$2,117,888$741,806$90,010$1,286,072
8$2,223,783$780,987$94,511$1,348,284
9$2,334,972$822,127$99,236$1,413,608
10$2,451,720$865,324$104,198$1,482,198
11$2,574,306$910,681$109,408$1,554,217
12$2,703,022$958,306$114,878$1,629,837
13$2,838,173$1,008,312$120,622$1,709,239
14$2,980,081$1,060,818$126,653$1,792,610
15$3,129,085$1,115,949$132,986$1,880,150
16$3,285,540$1,173,837$139,635$1,972,067
17$3,449,816$1,234,620$146,617$2,068,579
18$3,622,307$1,298,441$153,948$2,169,918
19$3,803,423$1,365,454$161,645$2,276,323
20$3,993,594$1,435,817$169,728$2,388,049
21$4,193,273$1,509,699$178,214$2,505,360
22$4,402,937$1,587,275$187,125$2,628,538
23$4,623,084$1,668,729$196,481$2,757,874
24$4,854,238$1,754,256$206,305$2,893,677
25$5,096,950$1,844,059$216,620$3,036,270
26$5,351,798$1,938,353$227,451$3,185,993
27$5,619,388$2,037,361$238,824$3,343,202
28$5,900,357$2,141,320$250,765$3,508,272
29$6,195,375$2,250,476$263,303$3,681,595
30$6,505,144$2,365,091$276,469$3,863,584
Total$105,000,000$37,595,631$4,462,496$62,941,866

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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.