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Michigan Mega Millions Jackpot Annuity Payout Schedule for Jul 26, 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 $830,000,000 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, Jul 26, 2022
Jackpot:$830,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,492,691$4,585,251$530,939$7,376,501
2$13,117,326$4,816,366$557,486$7,743,474
3$13,773,192$5,059,036$585,361$8,128,795
4$14,461,852$5,313,840$614,629$8,533,383
5$15,184,944$5,581,384$645,360$8,958,199
6$15,944,191$5,862,306$677,628$9,404,257
7$16,741,401$6,157,273$711,510$9,872,618
8$17,578,471$6,466,989$747,085$10,364,397
9$18,457,395$6,792,191$784,439$10,880,764
10$19,380,264$7,133,653$823,661$11,422,950
11$20,349,278$7,492,188$864,844$11,992,246
12$21,366,741$7,868,649$908,087$12,590,006
13$22,435,078$8,263,934$953,491$13,217,654
14$23,556,833$8,678,983$1,001,165$13,876,684
15$24,734,674$9,114,784$1,051,224$14,568,666
16$25,971,408$9,572,376$1,103,785$15,295,247
17$27,269,978$10,052,847$1,158,974$16,058,157
18$28,633,477$10,557,341$1,216,923$16,859,213
19$30,065,151$11,087,061$1,277,769$17,700,321
20$31,568,408$11,643,266$1,341,657$18,583,485
21$33,146,829$12,227,282$1,408,740$19,510,807
22$34,804,170$12,840,498$1,479,177$20,484,495
23$36,544,379$13,484,375$1,553,136$21,506,868
24$38,371,597$14,160,446$1,630,793$22,580,358
25$40,290,177$14,870,321$1,712,333$23,707,524
26$42,304,687$15,615,689$1,797,949$24,891,048
27$44,419,921$16,398,326$1,887,847$26,133,749
28$46,640,916$17,220,094$1,982,239$27,438,583
29$48,972,962$18,082,951$2,081,351$28,808,660
30$51,421,611$18,988,951$2,185,418$30,247,241
Total$830,000,002$305,988,651$35,275,000$488,736,350

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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.