USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,107,201$743,737$89,556$1,273,908
2$2,212,561$782,720$94,034$1,335,807
3$2,323,189$823,652$98,736$1,400,801
4$2,439,349$866,631$103,672$1,469,045
5$2,561,316$911,759$108,856$1,540,701
6$2,689,382$959,143$114,299$1,615,939
7$2,823,851$1,008,897$120,014$1,694,940
8$2,965,043$1,061,138$126,014$1,777,891
9$3,113,296$1,115,992$132,315$1,864,989
10$3,268,960$1,173,588$138,931$1,956,442
11$3,432,408$1,234,063$145,877$2,052,468
12$3,604,029$1,297,563$153,171$2,153,295
13$3,784,230$1,364,237$160,830$2,259,163
14$3,973,442$1,434,246$168,871$2,370,325
15$4,172,114$1,507,754$177,315$2,487,045
16$4,380,719$1,584,938$186,181$2,609,600
17$4,599,755$1,665,982$195,490$2,738,284
18$4,829,743$1,751,077$205,264$2,873,402
19$5,071,230$1,840,427$215,527$3,015,276
20$5,324,792$1,934,245$226,304$3,164,243
21$5,591,031$2,032,754$237,619$3,320,659
22$5,870,583$2,136,188$249,500$3,484,895
23$6,164,112$2,244,794$261,975$3,657,344
24$6,472,318$2,358,830$275,073$3,838,414
25$6,795,933$2,478,568$288,827$4,028,539
26$7,135,730$2,604,292$303,269$4,228,169
27$7,492,517$2,736,303$318,432$4,437,781
28$7,867,143$2,874,915$334,354$4,657,874
29$8,260,500$3,020,457$351,071$4,888,971
30$8,673,525$3,173,276$368,625$5,131,624
Total$140,000,000$50,722,166$5,950,002$83,327,834

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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.