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Michigan Mega Millions Jackpot Annuity Payout Schedule for Dec 16, 2022

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The tax information provided here is based on 2025 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 $429,000,000 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, Dec 16, 2022
Jackpot:$429,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,457,066$2,346,135$274,425$3,836,506
2$6,779,919$2,465,590$288,147$4,026,182
3$7,118,915$2,591,019$302,554$4,225,342
4$7,474,861$2,722,719$317,682$4,434,460
5$7,848,603$2,861,004$333,566$4,654,034
6$8,241,034$3,006,203$350,244$4,884,587
7$8,653,086$3,158,662$367,756$5,126,668
8$9,085,740$3,318,744$386,144$5,380,852
9$9,540,027$3,486,830$405,451$5,647,746
10$10,017,028$3,663,321$425,724$5,927,984
11$10,517,880$3,848,636$447,010$6,222,234
12$11,043,774$4,043,216$469,360$6,531,197
13$11,595,962$4,247,526$492,828$6,855,608
14$12,175,760$4,462,052$517,470$7,196,239
15$12,784,548$4,687,303$543,343$7,553,902
16$13,423,776$4,923,817$570,510$7,929,448
17$14,094,964$5,172,157$599,036$8,323,771
18$14,799,713$5,432,914$628,988$8,737,811
19$15,539,698$5,706,709$660,437$9,172,553
20$16,316,683$5,994,193$693,459$9,629,031
21$17,132,517$6,296,052$728,132$10,108,334
22$17,989,143$6,613,003$764,539$10,611,601
23$18,888,601$6,945,802$802,766$11,140,033
24$19,833,030$7,295,241$842,904$11,694,885
25$20,824,682$7,662,153$885,049$12,277,480
26$21,865,916$8,047,409$929,301$12,889,206
27$22,959,212$8,451,929$975,767$13,531,517
28$24,107,172$8,876,674$1,024,555$14,205,944
29$25,312,531$9,322,657$1,075,783$14,914,092
30$26,578,158$9,790,939$1,129,572$15,657,648
Total$429,000,001$157,440,609$18,232,502$253,326,895

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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.