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Michigan Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 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 $355,000,000 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, Sep 30, 2022
Jackpot:$355,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,343,259$1,939,961$227,089$3,176,210
2$5,610,422$2,038,811$238,443$3,333,168
3$5,890,943$2,142,604$250,365$3,497,974
4$6,185,491$2,251,587$262,883$3,671,021
5$6,494,765$2,366,018$276,028$3,852,720
6$6,819,503$2,486,171$289,829$4,043,503
7$7,160,479$2,612,332$304,320$4,243,826
8$7,518,503$2,744,801$319,536$4,454,165
9$7,894,428$2,883,893$335,513$4,675,021
10$8,289,149$3,029,940$352,289$4,906,920
11$8,703,607$3,183,289$369,903$5,150,414
12$9,138,787$3,344,306$388,398$5,406,082
13$9,595,726$3,513,374$407,818$5,674,534
14$10,075,513$3,690,895$428,209$5,956,409
15$10,579,288$3,877,292$449,620$6,252,377
16$11,108,253$4,073,009$472,101$6,563,144
17$11,663,665$4,278,511$495,706$6,889,448
18$12,246,849$4,494,289$520,491$7,232,069
19$12,859,191$4,720,856$546,516$7,591,820
20$13,502,151$4,958,751$573,841$7,969,558
21$14,177,258$5,208,540$602,533$8,366,184
22$14,886,121$5,470,820$632,660$8,782,641
23$15,630,427$5,746,213$664,293$9,219,921
24$16,411,948$6,035,376$697,508$9,679,065
25$17,232,546$6,338,997$732,383$10,161,166
26$18,094,173$6,657,799$769,002$10,667,372
27$18,998,882$6,992,541$807,452$11,198,888
28$19,948,826$7,344,020$847,825$11,756,980
29$20,946,267$7,713,074$890,216$12,342,977
30$21,993,581$8,100,580$934,727$12,958,274
Total$355,000,001$130,238,650$15,087,497$209,673,851

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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.