USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 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 $1,337,000,000 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 prize money, as well as deductions claimed.

State:

Michigan

Drawing Date:Fri, Jul 29, 2022
Jackpot:$1,337,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,123,769$7,408,749$855,260$11,859,759
2$21,129,957$7,781,039$898,023$12,450,895
3$22,186,455$8,171,943$942,924$13,071,587
4$23,295,778$8,582,393$990,071$13,723,315
5$24,460,566$9,013,364$1,039,574$14,407,628
6$25,683,595$9,465,885$1,091,553$15,126,157
7$26,967,775$9,941,032$1,146,130$15,880,613
8$28,316,164$10,439,936$1,203,437$16,672,791
9$29,731,972$10,963,785$1,263,609$17,504,579
10$31,218,570$11,513,826$1,326,789$18,377,955
11$32,779,499$12,091,370$1,393,129$19,295,001
12$34,418,474$12,697,790$1,462,785$20,257,898
13$36,139,397$13,334,532$1,535,924$21,268,941
14$37,946,368$14,003,111$1,612,721$22,330,536
15$39,843,686$14,705,119$1,693,357$23,445,210
16$41,835,870$15,442,227$1,778,024$24,615,619
17$43,927,663$16,216,190$1,866,926$25,844,547
18$46,124,047$17,028,852$1,960,272$27,134,922
19$48,430,249$17,882,147$2,058,286$28,489,816
20$50,851,761$18,778,107$2,161,200$29,912,455
21$53,394,349$19,718,864$2,269,260$31,406,225
22$56,064,067$20,706,660$2,382,723$32,974,684
23$58,867,270$21,743,845$2,501,859$34,621,566
24$61,810,633$22,832,889$2,626,952$36,350,792
25$64,901,165$23,976,386$2,758,300$38,166,479
26$68,146,224$25,177,058$2,896,215$40,072,952
27$71,553,535$26,437,763$3,041,025$42,074,747
28$75,131,211$27,761,503$3,193,076$44,176,631
29$78,887,772$29,151,431$3,352,730$46,383,611
30$82,832,161$30,610,855$3,520,367$48,700,940
Total$1,337,000,003$493,578,651$56,822,501$786,598,851

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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.