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Michigan Mega Millions Jackpot Annuity Payout Schedule for Dec 2, 2022

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The tax information provided here is based on 2022 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 $333,000,000 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 2, 2022
Jackpot:$333,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,012,128$1,817,442$213,015$2,981,670
2$5,262,734$1,910,167$223,666$3,128,901
3$5,525,871$2,007,527$234,850$3,283,494
4$5,802,165$2,109,756$246,592$3,445,817
5$6,092,273$2,217,096$258,922$3,616,255
6$6,396,886$2,329,803$271,868$3,795,216
7$6,716,731$2,448,145$285,461$3,983,124
8$7,052,567$2,572,405$299,734$4,180,428
9$7,405,196$2,702,877$314,721$4,387,597
10$7,775,455$2,839,874$330,457$4,605,125
11$8,164,228$2,983,719$346,980$4,833,529
12$8,572,440$3,134,758$364,329$5,073,353
13$9,001,062$3,293,348$382,545$5,325,169
14$9,451,115$3,459,867$401,672$5,589,575
15$9,923,670$3,634,713$421,756$5,867,201
16$10,419,854$3,818,301$442,844$6,158,709
17$10,940,847$4,011,068$464,986$6,464,792
18$11,487,889$4,213,474$488,235$6,786,180
19$12,062,283$4,426,000$512,647$7,123,636
20$12,665,398$4,649,152$538,279$7,477,966
21$13,298,667$4,883,462$565,193$7,850,012
22$13,963,601$5,129,487$593,453$8,240,660
23$14,661,781$5,387,814$623,126$8,650,841
24$15,394,870$5,659,057$654,282$9,081,531
25$16,164,613$5,943,862$686,996$9,533,755
26$16,972,844$6,242,907$721,346$10,008,591
27$17,821,486$6,556,905$757,413$10,507,168
28$18,712,560$6,886,602$795,284$11,030,674
29$19,648,188$7,232,785$835,048$11,580,356
30$20,630,598$7,596,276$876,800$12,157,521
Total$333,000,001$122,098,649$14,152,500$196,748,846

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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.