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Michigan Mega Millions Jackpot Annuity Payout Schedule for Jul 22, 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 $660,000,000 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, Jul 22, 2022
Jackpot:$660,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,933,947$3,633,748$422,193$5,878,006
2$10,430,645$3,817,526$443,302$6,169,816
3$10,952,177$4,010,493$465,468$6,476,216
4$11,499,786$4,213,109$488,741$6,797,936
5$12,074,775$4,425,854$513,178$7,135,742
6$12,678,514$4,649,238$538,837$7,490,439
7$13,312,440$4,883,790$565,779$7,862,871
8$13,978,061$5,130,070$594,068$8,253,923
9$14,676,965$5,388,665$623,771$8,664,529
10$15,410,813$5,660,188$654,960$9,095,665
11$16,181,353$5,945,288$687,708$9,548,357
12$16,990,421$6,244,643$722,093$10,023,685
13$17,839,942$6,558,966$758,198$10,522,778
14$18,731,939$6,889,005$796,107$11,046,827
15$19,668,536$7,235,546$835,913$11,597,077
16$20,651,963$7,599,414$877,708$12,174,841
17$21,684,561$7,981,475$921,594$12,781,492
18$22,768,789$8,382,640$967,674$13,418,476
19$23,907,228$8,803,862$1,016,057$14,087,309
20$25,102,590$9,246,146$1,066,860$14,789,584
21$26,357,719$9,710,544$1,120,203$15,526,972
22$27,675,605$10,198,162$1,176,213$16,301,230
23$29,059,386$10,710,160$1,235,024$17,114,201
24$30,512,354$11,247,759$1,296,775$17,967,820
25$32,037,972$11,812,237$1,361,614$18,864,121
26$33,639,871$12,404,940$1,429,695$19,805,237
27$35,321,865$13,027,278$1,501,179$20,793,408
28$37,087,958$13,680,732$1,576,238$21,830,987
29$38,942,356$14,366,859$1,655,050$22,920,446
30$40,889,474$15,087,293$1,737,803$24,064,378
Total$660,000,001$242,945,630$28,050,003$389,004,369

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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.