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Michigan Mega Millions Jackpot Annuity Payout Schedule for Dec 13, 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 $400,000,000 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, Dec 13, 2022
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$255,874$3,578,899
2$6,321,603$2,297,181$268,668$3,755,754
3$6,637,683$2,414,130$282,102$3,941,451
4$6,969,567$2,536,928$296,207$4,136,433
5$7,318,045$2,665,864$311,017$4,341,164
6$7,683,948$2,801,248$326,568$4,556,131
7$8,068,145$2,943,401$342,896$4,781,848
8$8,471,552$3,092,662$360,041$5,018,849
9$8,895,130$3,249,386$378,043$5,267,701
10$9,339,886$3,413,946$396,945$5,528,996
11$9,806,881$3,586,734$416,792$5,803,355
12$10,297,225$3,768,161$437,632$6,091,432
13$10,812,086$3,958,660$459,514$6,393,913
14$11,352,690$4,158,683$482,489$6,711,518
15$11,920,325$4,368,708$506,614$7,045,003
16$12,516,341$4,589,234$531,945$7,395,163
17$13,142,158$4,820,786$558,542$7,762,830
18$13,799,266$5,063,916$586,469$8,148,881
19$14,489,229$5,319,203$615,792$8,554,234
20$15,213,691$5,587,253$646,582$8,979,856
21$15,974,375$5,868,707$678,911$9,426,758
22$16,773,094$6,164,233$712,856$9,896,005
23$17,611,749$6,474,535$748,499$10,388,715
24$18,492,336$6,800,352$785,924$10,906,060
25$19,416,953$7,142,460$825,220$11,449,272
26$20,387,801$7,501,674$866,482$12,019,645
27$21,407,191$7,878,848$909,806$12,618,537
28$22,477,550$8,274,881$955,296$13,247,373
29$23,601,428$8,690,716$1,003,061$13,907,651
30$24,781,499$9,127,342$1,053,214$14,600,943
Total$400,000,001$146,745,632$17,000,001$236,254,370

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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.