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Michigan Mega Millions Jackpot Annuity Payout Schedule for Dec 23, 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 $510,000,000 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 23, 2022
Jackpot:$510,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,676,232$2,798,394$326,240$4,551,598
2$8,060,044$2,940,404$342,552$4,777,088
3$8,463,046$3,089,515$359,679$5,013,852
4$8,886,198$3,246,081$377,663$5,262,454
5$9,330,508$3,410,476$396,547$5,523,485
6$9,797,033$3,583,090$416,374$5,797,569
7$10,286,885$3,764,335$437,193$6,085,357
8$10,801,229$3,954,643$459,052$6,387,534
9$11,341,291$4,154,465$482,005$6,704,821
10$11,908,355$4,364,279$506,105$7,037,971
11$12,503,773$4,584,584$531,410$7,387,779
12$13,128,962$4,815,904$557,981$7,755,077
13$13,785,410$5,058,789$585,880$8,140,740
14$14,474,680$5,313,819$615,174$8,545,687
15$15,198,414$5,581,601$645,933$8,970,881
16$15,958,335$5,862,772$678,229$9,417,334
17$16,756,251$6,158,001$712,141$9,886,110
18$17,594,064$6,467,991$747,748$10,378,325
19$18,473,767$6,793,482$785,135$10,895,150
20$19,397,456$7,135,246$824,392$11,437,818
21$20,367,328$7,494,099$865,611$12,007,618
22$21,385,695$7,870,895$908,892$12,605,908
23$22,454,980$8,266,530$954,337$13,234,113
24$23,577,728$8,681,947$1,002,053$13,893,728
25$24,756,615$9,118,135$1,052,156$14,586,323
26$25,994,446$9,576,133$1,104,764$15,313,549
27$27,294,168$10,057,030$1,160,002$16,077,136
28$28,658,876$10,561,972$1,218,002$16,878,902
29$30,091,820$11,092,161$1,278,902$17,720,757
30$31,596,411$11,648,860$1,342,847$18,604,704
Total$510,000,001$187,445,633$21,674,999$300,879,368

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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.