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Michigan Mega Millions Jackpot Annuity Payout Schedule for Nov 25, 2022

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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 $284,000,000 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:Fri, Nov 25, 2022
Jackpot:$284,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,274,608$1,539,793$181,671$2,553,144
2$4,488,338$1,618,873$190,754$2,678,711
3$4,712,755$1,701,907$200,292$2,810,556
4$4,948,393$1,789,093$210,307$2,948,993
5$5,195,812$1,880,638$220,822$3,094,352
6$5,455,603$1,976,761$231,863$3,246,979
7$5,728,383$2,077,689$243,456$3,407,237
8$6,014,802$2,183,665$255,629$3,575,509
9$6,315,542$2,294,938$268,411$3,752,193
10$6,631,319$2,411,776$281,831$3,937,712
11$6,962,885$2,534,455$295,923$4,132,507
12$7,311,030$2,663,269$310,719$4,337,042
13$7,676,581$2,798,523$326,255$4,551,804
14$8,060,410$2,940,540$342,567$4,777,303
15$8,463,431$3,089,657$359,696$5,014,078
16$8,886,602$3,246,231$377,681$5,262,691
17$9,330,932$3,410,633$396,565$5,523,735
18$9,797,479$3,583,255$416,393$5,797,831
19$10,287,353$3,764,508$437,212$6,085,632
20$10,801,720$3,954,824$459,073$6,387,823
21$11,341,806$4,154,656$482,027$6,705,124
22$11,908,897$4,364,480$506,128$7,038,289
23$12,504,342$4,584,794$531,435$7,388,113
24$13,129,559$4,816,124$558,006$7,755,428
25$13,786,036$5,059,021$585,907$8,141,109
26$14,475,339$5,314,063$615,202$8,546,074
27$15,199,105$5,581,857$645,962$8,971,287
28$15,959,061$5,863,040$678,260$9,417,760
29$16,757,014$6,158,283$712,173$9,886,558
30$17,594,864$6,468,288$747,782$10,378,795
Total$284,000,001$103,825,634$12,070,002$168,104,369

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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.